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Sunoco Turns To Profit In Q2

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Sunoco Inc. (SUN) reported second-quarter net income attributable to shareholders of $248 million or $2.35 per share, compared to a net loss of $125 million or $1.03 per share in the comparable quarter last year.

Excluding special items, Sunoco reported a net income of $129 million or $1.22 per share, compared to $20 million or $0.17 per share in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.48 per share. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $12.23 billion from $11.32 billion in the prior year quarter. Two analysts had consensus revenue estimate of $5.96 billion for the quarter.

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