SUN - Sunoco LP reports Q4 earnings miss; reaffirms FY23 Adjusted EBITDA outlook

• Sunoco LP press release ( NYSE: SUN ): Q4 GAAP EPS of $0.42 misses by $0.35 .
• Revenue of $5.92M (-99.9% Y/Y) misses by $4.94B .
• Adjusted EBITDA of $238M and Distributable Cash Flow, as adjusted of $153M.
• SUN's total capital expenditures for the fourth quarter were $89 million, which included $56 million for growth capital and $33 million for maintenance capital.
• Outlook: Reaffirms full-year 2023 Adjusted EBITDA of $850 to $900 million.
• SUN expects 2023 fuel volumes to be approximately 7.8 billion gallons, fuel margins to be approximately 12.0 cents per gallon, operating expenses in a range of $525 to $535 million, growth capital expenditures of at least $150 million, and maintenance capital expenditures of approximately $60 million.

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