Sunoco (NYSE: SUN) reported Q1 EPS of $1.07, $0.52 better than the analyst estimate of $0.55. Revenue for the quarter came in at $3.69 billion versus the consensus estimate of $3.61 billion.

• Net income was $109 million versus net loss of $315 million in the first quarter of 2018. Results include a non-cash $47 million write-down on assets held for sale offset by $93 million of non-cash inventory adjustments.
• Adjusted EBITDA(1) totaled $153 million compared with $109 million in the first quarter of 2018. Results were supported by an increase in the Partnership\'s fuel volumes and lower operating expenses.
• Distributable Cash Flow, as adjusted(1), was $99 million, compared to $85 million a year ago. This year-over-year increase reflects higher Adjusted EBITDA partially offset by higher cash interest expense and current income tax expense.

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