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Sunoco (SUN) Gears Up for Q4 Earnings: What's in Store?
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Sunoco LP (SUN - Free Report) is set to report fourth-quarter 2023 earnings on Feb 14, before the opening bell.
In the last reported quarter, the company’s earnings of $2.95 per unit beat the Zacks Consensus Estimate of $1.11 due to a rise in the volume of fuel gallons sold, coupled with a decrease in the total cost of sales and operating expenses. Sunoco’s earnings missed the Zacks Consensus Estimate in two of the trailing four quarters and beat the same twice, delivering an average surprise of 28.3%. This is depicted in the graph below.
The Zacks Consensus Estimate for fourth-quarter earnings per unit of 96 cents has witnessed no revisions over the past 30 days. The estimated figure suggests a significant improvement from the year-ago quarter’s reported number.
The Zacks Consensus Estimate for fourth-quarter revenues of $5.4 billion indicates an 8.4% decline from the year-ago reported figure.
Factors to Consider
Demand for motor fuels may have decreased due to factors such as remote work arrangements and the increasing popularity of electric vehicles. The Zacks Consensus Estimate for the company’s motor fuel sold for the December quarter is pegged at 1,889 gallons, suggesting a decline from 1,979 gallons in the year-ago quarter.
Since Sunoco is a leading distributor of motor fuel to convenience stores and independent dealers, lower demand for the fuel is likely to have hurt the bottom line.
Earnings Whispers
Our proven model does not indicate an earnings beat for Sunoco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: SUN’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are three firms that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
The partnership is scheduled to release fourth-quarter earnings on Feb 21. The Zacks Consensus Estimate for WES’s earnings is pegged at 78 cents per share, suggesting a decline from the year-ago figure.
Cheniere Energy, Inc. (LNG - Free Report) currently has an Earnings ESP of +5.55% and a Zacks Rank #3.
Cheniere Energy is scheduled to release fourth-quarter earnings on Feb 22. The Zacks Consensus Estimate for LNG’s earnings is pegged at $2.70 per share.
Energy Transfer LP (ET - Free Report) has an Earnings ESP of +0.69% and is a Zacks #1 Ranked player at present.
ET is scheduled to release fourth-quarter results on Feb 14. The Zacks Consensus Estimate for Energy Transfer’s earnings is pegged at 29 cents per share, suggesting a year-over-year decline.
Image: Shutterstock
Sunoco (SUN) Gears Up for Q4 Earnings: What's in Store?
Sunoco LP (SUN - Free Report) is set to report fourth-quarter 2023 earnings on Feb 14, before the opening bell.
In the last reported quarter, the company’s earnings of $2.95 per unit beat the Zacks Consensus Estimate of $1.11 due to a rise in the volume of fuel gallons sold, coupled with a decrease in the total cost of sales and operating expenses. Sunoco’s earnings missed the Zacks Consensus Estimate in two of the trailing four quarters and beat the same twice, delivering an average surprise of 28.3%. This is depicted in the graph below.
Sunoco LP Price and EPS Surprise
Sunoco LP price-eps-surprise | Sunoco LP Quote
Estimate Trend
The Zacks Consensus Estimate for fourth-quarter earnings per unit of 96 cents has witnessed no revisions over the past 30 days. The estimated figure suggests a significant improvement from the year-ago quarter’s reported number.
The Zacks Consensus Estimate for fourth-quarter revenues of $5.4 billion indicates an 8.4% decline from the year-ago reported figure.
Factors to Consider
Demand for motor fuels may have decreased due to factors such as remote work arrangements and the increasing popularity of electric vehicles. The Zacks Consensus Estimate for the company’s motor fuel sold for the December quarter is pegged at 1,889 gallons, suggesting a decline from 1,979 gallons in the year-ago quarter.
Since Sunoco is a leading distributor of motor fuel to convenience stores and independent dealers, lower demand for the fuel is likely to have hurt the bottom line.
Earnings Whispers
Our proven model does not indicate an earnings beat for Sunoco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: SUN’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are three firms that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Western Midstream Partners LP (WES - Free Report) currently has an Earnings ESP of +4.01% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The partnership is scheduled to release fourth-quarter earnings on Feb 21. The Zacks Consensus Estimate for WES’s earnings is pegged at 78 cents per share, suggesting a decline from the year-ago figure.
Cheniere Energy, Inc. (LNG - Free Report) currently has an Earnings ESP of +5.55% and a Zacks Rank #3.
Cheniere Energy is scheduled to release fourth-quarter earnings on Feb 22. The Zacks Consensus Estimate for LNG’s earnings is pegged at $2.70 per share.
Energy Transfer LP (ET - Free Report) has an Earnings ESP of +0.69% and is a Zacks #1 Ranked player at present.
ET is scheduled to release fourth-quarter results on Feb 14. The Zacks Consensus Estimate for Energy Transfer’s earnings is pegged at 29 cents per share, suggesting a year-over-year decline.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.