Sunoco LP (NYSE:SUN) Q3 2023 Earnings Call Transcript

Selman Akyol: Okay, thank you very much.

Operator: Our final question comes from Ned Baramov with Wells Fargo. Please proceed with your question.

Ned Baramov: Hey guys, good morning. Thanks for taking the question. Given the resilience of your business and the well-documented interplay between volumes and margins, is there a thought to provide a longer-term base forecast on EBITDA and/or distribution growth as opposed to your typical one-year forward update that you provide in December?

Joseph Kim: Yes, it’s Joe. Good question. We have — we’re going to put out a December investor presentation. And I tried to highlight a few of the themes that — in the prepared remarks, but let me try to be even clearer on this one. If you look at our business and you look year-over-year for the last five years, you’ve seen our balance sheet get better. You’ve seen our coverage grow, you’ve seen our EBITDA grow. And every time we’ve done a formal guidance in December has been a growth. What we haven’t done and what we plan to do in December is really talk about our confidence in 2024, but go even further and talk even longer term about industry fundamentals and how Sunoco could position ourselves to thrive in those fundamentals on a far perspective. So if you — with a little bit of patience, we’re in December is right around the corner, we’ll give some good insightful thought about 2024 and beyond.

Ned Baramov: That’s great. Thanks for that. I’m looking forward to the update in December.

Operator: We’ve reached the end of the question-and-answer session. I’d now like to turn the call back over to Scott Grischow for closing comments.

Scott Grischow: Well, thanks, everyone for joining us on the call this morning. Please feel free to reach out with any follow-up questions, and we’ll talk to everyone soon. Have a great day.

Operator: This concludes today’s conference. You may disconnect your lines at this time. And we thank you for your participation.