Sunoco LP (NYSE: SUN) reported fourth-quarter earnings that fell well short of analyst expectations, even as revenue exceeded forecasts.
The fuel distributor recorded net income of $97 million and adjusted earnings per share of $0.09, far below the $1.52 consensus estimate. Revenue reached $8.6 billion, surpassing the $5.93 billion forecast.
Adjusted EBITDA totaled $646 million for the quarter, or $706 million excluding one-time transaction-related costs.
The results reflected the impact of Sunoco’s acquisition of Parkland Corporation, which closed on October 31, 2025. During the quarter, the company sold approximately 3.3 billion gallons of fuel at a margin of 17.7 cents per gallon.
Sunoco stated it ended 2025 at its long-term leverage target of approximately four times and delivered its eighth consecutive year of growth in Distributable Cash Flow per common unit.
Adjusted Distributable Cash Flow rose to $442 million, compared to $261 million in the fourth quarter of 2024. The company raised its quarterly distribution by 1.25% to $0.9317 per common unit and continues to target annual distribution growth of at least 5% in 2026.
