Sunoco Earnings: These Numbers Beat Wall Street Expectations

S&P 500 (NYSE:SPY) component Sunoco Inc. (NYSE:SUN) climbed to a profit in the second quarter and beat Wall Street’s expectations in the process. Sunoco, through its subsidiaries, is a petroleum refiner and marketer and chemicals manufacturer.

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Sunoco Inc. Earnings Cheat Sheet

Results: Reported a profit of $248 million ($2.35 per diluted share) in the quarter. Sunoco Inc. had a net loss of $125 million or a loss $1.03 per share in the year-earlier quarter.

Actual vs. Wall St. Expectations: Sunoco Inc. beat the mean analyst estimate of 47 cents per share.

Quoting Management: “Sunoco had a solid quarter thanks to excellent results in its logistics and retail segments which contributed pretax income of $82 and $73 million, respectively. These businesses continue to provide steady, ratable cash flows we can count on,” said Brian P. MacDonald, Sunoco’s chairman, chief executive officer and president.

Key Stats:

The company topped expectations last quarter after falling short of forecasts in the first quarter with a loss of 49 cents versus a mean estimate of a loss of 6 cents per share.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the third quarter has moved up from 37 cents a share to 39 cents over the last sixty days. For the fiscal year, the average estimate has moved up from 83 cents a share to $1.04 over the last sixty days.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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