SUN - Sunoco indicated higher after Q4 earnings revenues top estimates

Sunoco (NYSE:SUN) +0.8% pre-market after Q4 earnings beat expectations, and revenues jumped 94% Y/Y to $4.95B. Q4 net income increased to $100M from $83M in the year-earlier quarter, and adjusted EBITDA improved to $198M compared with $159M a year ago. For the full year, adjusted distributable cash flow rose to $542M from $517M; current quarter cash coverage was 1.65x, and trailing 12-months coverage was 1.56x. For the full year, Sunoco said it generated record adjusted EBITDA of $754, in the upper half of its guidance range. Sunoco said it sold ~1.9B gallons of fuel in the quarter, up 3.1% Y/Y, and fuel margin for all gallons sold was $0.12/gallon compared to $0.092/gallon a year ago. For FY 2022, Sunoco expects full-year adjusted EBITDA of $770M-$810M, fuel volumes of 7.7B-8.1B gallons, fuel margins of $0.105-$0.115/gallon, operating expenses of $490M-$500M, and growth capital spending of at least $150M. The 2022 guidance does

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Sunoco indicated higher after Q4 earnings, revenues top estimates