Sunoco’s first-quarter 2026 earnings triple year-over-year as M&A strategy accelerates
Sunoco LP reports its first-quarter 2026 earnings. | Shutterstock
Sunoco LP is stronger than it has ever been.
That was the message from Sunoco President and CEO Joe Kim Tuesday on the Dallas-based fuel distributor and convenience-store operator’s first-quarter 2026 earnings call.
Sunoco’s net income for the first quarter of the year was $644 million compared to $207 million in the first quarter of 2025. Its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $858 million compared to $458 million a year ago.
The company also completed three acquisitions—picking up 56 Duck Thru Food Stores from Jernigan Oil Co. Inc., 36 c-stores from Pops Mart Fuel and 48 retail and fuel sites from Capitol Petroleum Group.
“We’re on track to complete over $500 million of bolt-on acquisitions in 2026,” Kim said, according to a transcript from AlphaSense. “Separately, and in totality, these are immediately accretive while maintaining our balance sheet target. When you combine our ongoing accretive growth with the resilient base business, we’re stronger than any point since the establishment of Sunoco LP.”
Kim said that this year, Sunoco has almost $200 million of bolt-on M&A deals that are either closed or are going to be closed soon. It was not clear if that included the three previously mentioned acquisitions.
- Sunoco LP is No. 33 on CSP’s 2026 Top 40 update to the 2025 Top 202 ranking of U.S. c-store chains by store count. Watch for the full 2026 Top 202 ranking in June.
It has also been six months since Sunoco closed on its acquisition of Parkland, adding about 275 U.S. stores to Sunoco’s c-store footprint, plus others in Canada and the Caribbean. The company is seeing positive results from this acquisition, too.
“Our results this quarter continue the trend of accretive and sustainable growth for Sunoco, as we benefited from a full quarter of operations from Parkland and the closing of our TanQuid acquisition in Europe,” Executive Vice President and COO Karl Fails said, according to the AlphaSense transcript. “Each of our segments delivered strong performance in the first quarter, and they are all well-positioned to contribute meaningfully toward achieving our 2026 EBITDA guidance.”
Parkland closed on TanQuid, a terminal operator in Germany and Poland, in the first quarter of 2026.
“If you take a step back and you look at all the recent acquisitions that we’ve done, we’ve greatly expanded our scale and our geographic footprint,” Kim said. “And it wasn’t too long ago that we were a U.S.-only business, predominantly on the East Coast and in the South. Now we have investment opportunities in the U.S., Canada, Latin America, greater Caribbean and Europe.”
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