Sunoco LP Common Units (NYSE:SUN) Q3 2024 Earnings Conference Call November 6, 2024 10:00 AM ET
Company Participants
Scott Grischow – SVP, Finance and Treasurer
Karl Fails – COO
Joe Kim – President and CEO
Austin Harkness – Chief Commercial Officer
Conference Call Participants
Theresa Chen – Barclays
Noah Katz – JPMorgan Chase & Co.
Gabriel Moreen – Mizuho
Ned Baramov – Wells Fargo
Operator
Greetings and welcome to the Sunoco LP’s Third Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Scott Grischow, Senior Vice President, Finance and Treasurer. Thank you. You may begin.
Scott Grischow
Thank you and good morning, everyone. On the call with me this morning are Joe Kim, Sunoco LP’s President and Chief Executive Officer; Karl Fails, Chief Operations Officer; Austin Harkness, Chief Commercial Officer; Brian Hand, Chief Sales Officer; and Dylan Bramhall, Chief Financial Officer.
Today’s call will contain forward-looking statements that include expectations and assumptions regarding the partnership’s future operations and financial performance. Actual results could differ materially, and the partnership undertakes no obligation to update these statements based on subsequent events. Please refer to our earnings release as well as our filings with the SEC for a list of these factors.
During today’s call, we will also discuss certain non-GAAP financial measures, including adjusted EBITDA and distributable cash flow as adjusted. Please refer to the Sunoco LP website for reconciliation of each financial measure.
The third quarter brought a continuation of Sunoco’s strong financial and operational performance throughout 2024. The partnership delivered record third quarter adjusted EBITDA of $470 million, excluding approximately $14 million of one-time transaction expenses. In the third quarter, we spent $67 million
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