Completion of Parkland Acquisition
Sunoco successfully completed the acquisition of Parkland Corporation, creating the largest independent fuel distributor in the Americas. The acquisition is valued at approximately $9 billion and is expected to be immediately accretive to distributable cash flow per common unit.
Record Third Quarter Financial Performance
Sunoco delivered a record third quarter with adjusted EBITDA of $496 million, up from $470 million a year ago, excluding onetime transaction-related expenses.
Increase in Fuel Distribution Volumes
Fuel distribution volumes increased to 2.3 billion gallons during the quarter, up 5% from last quarter and up 7% compared to the third quarter of last year.
Increase in Distribution
Sunoco declared a distribution for the third quarter of $0.9202 per common unit, representing an increase of 1.25% compared with the previous quarter.
Strong Pipeline Systems and Terminals Performance
Pipeline Systems segment adjusted EBITDA for the quarter was $182 million, and Terminals segment adjusted EBITDA was $76 million, both showing year-over-year growth.