Sunoco LP: 2Q Earnings Snapshot
DALLAS (AP) _ Sunoco LP (SUN) on Wednesday reported second-quarter net income of $68 million, after reporting a loss in the same period a year earlier.
The Dallas-based company said it had profit of 58 cents per share. Earnings, adjusted to account for discontinued operations, came to 90 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The master limited partnership posted revenue of $4.61 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $4.2 billion.
Sunoco LP shares have dropped nearly 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.95, a drop of 14 percent in the last 12 months.