Sunoco (SUN) Reports Q1 Miss on EPS, Revenues Above Estimates
Sunoco (NYSE: SUN) reported Q1 EPS of ($1.11), versus $0.54 reported last year. Revenue for the quarter came in at $3.7 billion versus the consensus estimate of $2.8 billion.
- Revenue totaled $3.7 billion, an increase of 33.5 percent, compared to $2.8 billion in the first quarter of 2017. The increase was the result of the average selling price of fuel being higher than last year.
- Total gross profit increased to $296 million, compared to $256 million in the first quarter of 2017, as a result of higher motor fuel gross profits.
- Loss from continuing operations was $78 million, including a $109 million loss on extinguishment of debt and other, versus income of $12 million in the first quarter of 2017.
- Loss from discontinued operations, net of income taxes, was $237 million versus a loss from discontinued operations, net of income taxes, of $11 million in the first quarter of 2017.
- Net loss was $315 million, or ($3.74) per diluted unit, versus a net income of $1 million, or ($0.22) per diluted unit, in the first quarter of 2017.
- Adjusted EBITDA for the quarter totaled $109 million, compared with $155 million in the first quarter of 2017.
- Distributable Cash Flow, as adjusted, was $85 million, compared to $77 million a year ago. This year-over-year increase reflects lower cash interest expense and a decrease in maintenance capital spend.
For earnings history and earnings-related data on Sunoco (SUN) click here.
