SUN - Sunoco LP reports mixed Q2 earnings; reaffirms FY23 capex outlook

2023-08-02 07:32:01 ET

• Sunoco LP press release ( NYSE: SUN ): Q2 GAAP EPS of $0.78 misses by $0.47 .
• Revenue of $5.75B (-26.5% Y/Y) beats by $30M .

• Adjusted EBITDA for the second quarter of 2023 was $250 million compared with $214 million in the second quarter of 2022.

  Distributable Cash Flow, as adjusted, for the second quarter of 2023 was $175 million, compared to $159 million in the second quarter of 2022.

• SUN's leverage ratio of net debt to Adjusted EBITDA, calculated in accordance with its credit facility, was 3.6 times at the end of the second quarter of 2023.

• SUN's total capital expenditures for the second quarter of 2023 were $50 million, which included $35 million for growth capital and $15 million for maintenance capital.

• For the full-year 2023, SUN continues to expect growth capital expenditures of at least $150 million and maintenance capital expenditures of approximately $65 million.

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