Sunoco LP (NYSE: SUN) has announced the maintenance of its quarterly distribution for the fourth quarter of 2023, with a payment of $0.8420 per common unit or $3.368 per common unit on an annualized basis. This distribution is set to be paid on February 20, 2024, to common unitholders of record on February 7, 2024.
Sunoco LP is a master limited partnership engaged in the distribution of motor fuel to approximately 10,000 convenience stores, independent dealers, commercial customers, and distributors across more than 40 U.S. states and territories, as well as in refined product transportation and terminalling assets.
The company's shares have experienced a slight movement, increasing by 0.2% and are currently trading at a price of $56.57.
Scott Grischow, Treasurer and Senior Vice President of Investor Relations and Mergers & Acquisitions at Sunoco LP, stated, "We are pleased to maintain our quarterly distribution, reflecting the strength of our business and our commitment to delivering value to our unitholders."
Regarding market outlook, Sunoco LP has not provided any specific forward-looking statements in the press release.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $16,994 | $16,596 | $10,710 | $17,596 | $25,729 | $23,345 |
| Revenue Growth | n/a | -2.34% | -35.47% | 64.3% | 46.22% | -9.27% |
| Operating Margins | 2% | 3% | 4% | 4% | 3% | 3% |
| Net Margins | -1% | 2% | 2% | 3% | 2% | 2% |
| Net Income (MM) | -$207 | $313 | $212 | $524 | $475 | $555 |
| Net Interest Expense (MM) | $144 | $173 | $175 | $163 | $182 | $209 |
| Depreciation & Amort. (MM) | $182 | $183 | $189 | $177 | $193 | $183 |
| Earnings Per Share | -$2.49 | $3.74 | $2.53 | $6.2 | $0.56 | $0.65 |
| EPS Growth | n/a | 250.2% | -32.35% | 145.06% | -90.97% | 16.07% |
| Diluted Shares (MM) | 83 | 84 | 84 | 85 | 848 | 850 |
| Current Ratio | 1.05 | 1.24 | 1.3 | 1.34 | 1.41 | 1.68 |
| Total Debt (MM) | $2,285 | $2,909 | $3,112 | $2,674 | $3,600 | $3,800 |
| Net Debt / EBITDA | 4.23 | 4.46 | 4.98 | 2.86 | 4.04 | 3.7 |
