Sunoco Lp · NYSE:SUN
Sunoco Lp — Investor Presentation (June 2024)
14 slides from Sunoco Lp's investor presentation, June 2024
Slide 1: Investor Presentation
Investor Presentation June 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Some of the statements in this presentation constitute “forward-looking statements” about Sunoco LP (“SUN”, “we”, “our,” and “us”) that involve risks, uncertainties and assumptions, including, without limitation, the expected future performance of SUN (including expected r
Slide 3: 2024 Updates and Outlook
2024 Updates and Outlook Increased NuStar Synergies with Accelerated Timing • Increased commercial and expense synergies to ~$200MM annually by 2026 • ~$50MM will be realized in 2024 • Financial synergies increased to ~$60MM annually • Completed all refinancing activities in the second quarter of 20
Slide 4: NuStar Acquisition
NuStar Acquisition Transaction Synergies 2024 Capital Financial Costs • ~$200MM in • Total transaction • Revised 2024 capital • Issued $1.5B of commercial and costs of ~$100MM guidance to include Senior Notes to expense synergies • Majority of costs impact from redeem NuStar annually related to NuSt
Slide 5: North America's Largest Independent Fuel Distributor
Leading Operator of Critical Energy Infrastructure and North America’s Largest Independent Fuel Distributor * * * * *Includes Joint Ventures Ireland Netherlands Hawaii Puerto Rico • Distribute over 8.5B gallons of • ~10,000 miles of pipeline • 113 terminals across the U.S., fuel annually transportin
Slide 6: A Compelling Investment
A Compelling Investment Diverse and Stable Income Streams • Diverse business with significant operating scale • Vertical integration improves stability and asset utilization • Significant portion of income backed by long-term, fee-based contracts Strong Financial Foundation • Successful capital allo
Slide 7: Diverse and Stable Income Streams
Diverse and Stable Income Streams Fuel Distribution Pipeline Systems Terminals • Largest independent fuel • ~10,000 miles of pipeline with • 58 independent storage distributor in North America 55 connected terminals terminals across the United • Significant scale with over transporting refined produ
Slide 8: Strong Financial Foundation
Strong Financial Foundation Capital Allocation Strategy Strong Balance Sheet and History of Expense Drives Value Liquidity Position Discipline • Strong Balance Sheet • Ample liquidity under $1.5B • Expense management is a • Leverage target of 4.0x unsecured revolving credit competitive advantage • S
Slide 9: Platform For Continued Growth
Platform For Continued Growth Disciplined Capital Proven History of Allocation Policy Continued Strong Accretive Growth • Balance growth with Expanded Scale Free Cash Flow • Since 2019, SUN a secure and and Operations • Stable and ratable has invested ~$1.5B growing distribution business generates i
Slide 10: Appendix
SUNOCO LP Appendix
Slide 11: Fuel Distribution
Fuel Distribution Fuel Distribution Locations Segment Overview • Supply over 8.5B gallons of fuel to retail and wholesale locations throughout the United States and the Caribbean • Long-term take-or-pay fuel supply agreement with 7-Eleven • 850+ real estate assets provide stable lease income • Fuel
Slide 12: Pipeline Systems
Pipeline Systems Pipeline Systems Segment Overview • ~6,000 miles of refined product pipelines and 38 terminals serving key markets in the Southwest, MidCon, and northern Mexico • ~2,000 miles of crude oil pipelines and 16 terminals providing Permian and Eagle Ford gathering, refinery supply, and ma
Slide 13: Terminals
Terminals Terminals Segment Overview • Critical midstream infrastructure serving both domestic and international customers • Includes 58 independent storage terminals • Revenues generated by storage leases, throughput arrangements, gains, and ancillary fees • Largest transmix processor in Ireland No
Slide 14: Financial Overview
Financial Overview Sunoco LP (NYSE:SUN) Leverage and Coverage • Market Capitalization: ~$7B(1) Since 2017, SUN has 2.00x 5.50x • Enterprise Value: ~$14B(1) reduced leverage and 5.00x increased coverage 1.80x • Credit Ratings: Moody’s - Ba1 | S&P - BB+ | 4.50x Fitch - BB+ Coverage Leverage 4.00x 1.60