Sunoco to Report Q3 Earnings: Here's What You Need to Know

Sunoco LP SUN is set to report third-quarter 2024 results on Nov. 6, before the opening bell.In the last reported quarter, Sunoco’s earnings of $3.85 per share beat the Zacks Consensus Estimate of $1.79, driven by a boost in fuel sales and positive contributions from its NuStar acquisition.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The company beat on earnings in two of the trailing four quarters, met once and missed in the other, delivering an average surprise of 8.09%. This is depicted in the graph below: Sunoco LP Price and EPS Surprise Sunoco LP price-eps-surprise | Sunoco LP Quote Estimate TrendThe Zacks Consensus Estimate for third-quarter earnings per share of $1.53 has witnessed one downward revision and no upward revision in the past 30 days. The estimated figure suggests a decline of 48.14% from the prior-year reported number.The Zacks Consensus Estimate for revenues of $5.97 billion indicates a decline of 5.56% year over year.Factors to ConsiderSunoco LP is a major fuel distributor across the United States. The partnership is anticipated to have sustained stable earnings in the third quarter, supported by its long-term fuel supply contracts and extensive fuel distribution network across North America. The demand for motor fuel is likely to have remained stable compared to the prior-year level. Our estimate for Sunoco’s total motor fuel gallons sold is pinned at 2,045 million compared with 2,124 million in the year-ago quarter.Additionally, the partnership is expected to have generated stable revenues from its extensive pipeline network and 113 terminal and storage facilities, which came with the NuStar Energy L.P. acquisition. The pipeline business is least exposed to commodity price fluctuations and is known to generate stable earnings backed by long-term contracts.These factors are anticipated to have influenced demand and pricing dynamics, potentially aiding Sunoco’s financial performance in the quarter.Earnings WhispersOur proven model predicts 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 the case here, as you will see below.Earnings ESP: Sunoco has an Earnings ESP of +13.44%. 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.Other Stocks to ConsiderHere are some other stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.TC Energy Corporation TRP has an Earnings ESP of +3.07% and a Zacks Rank #3 at present. The firm is scheduled to release earnings on Nov. 7.TC Energy has a trailing four-quarter earnings surprise of 12%, on average.Helmerich & Payne HP has an Earnings ESP of +2.90% and a Zacks Rank #3 at present. The firm is scheduled to release earnings on Nov. 13.Helmerich & Payne has a trailing four-quarter earnings surprise of 14.8%, on average.Energy Transfer ET has an Earnings ESP of +7.29% and a Zacks Rank #3 at present. The company is set to report third-quarter results on Nov. 6.The company delivered a trailing four-quarter average earnings surprise of 5.15%.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Helmerich & Payne, Inc. (HP): Free Stock Analysis Report Sunoco LP (SUN): Free Stock Analysis Report TC Energy Corporation (TRP): Free Stock Analysis Report Energy Transfer LP (ET): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks