Filing Flows › Sunoco LP (SUN) › Q4 2025
Sunoco LP (SUN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 19, 2026
Sunoco LP (SUN) reported revenue of $8.6B for the fourth quarter 2025 (Q4 2025), +63% from a year earlier and +43% from the quarter before. Operating margin was 2.1%, net earnings $97.0M (1.1% of revenue).
Sunoco LP, Q4 2025: revenue $8.6B (+63% year over year), operating margin 2.1%, net earnings $97.0M, operating cash flow $392M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.6B | +43% | +63% |
| Operating profit | $184M | -27% | -22% |
| Net earnings | $97.0M | -29% | -31% |
| Operating cash flow | $392M | -2% | +219% |
| Free cash flow | $233M | -5% | — |
What changed
Revenue was $8.6B in Q4 2025, up 63% year over year and up 43% from the previous quarter. Sales revenue was the largest line at 94% of revenue.
Operating profit was $0.18B, a 2.1% margin (down 2.4 points year over year). Operating profit fell $0.05B even though revenue rose $3.3B versus a year earlier, so costs grew faster than sales. Total costs grew 67% against revenue growth of 63%. The fastest-growing cost line was General & admin (+200%). Net earnings were $0.10B, down 28% year over year. The effective tax rate was 32.2%.
Operating cash flow was $0.39B (up 219% year over year), 404% of net income including minority interests. Non-cash charges added back $0.22B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.07B. Capital expenditures of $0.16B left free cash flow of $0.23B.
Questions
What was Sunoco LP's revenue in the fourth quarter 2025?
Sunoco LP (SUN) reported revenue of $8.6B for the fourth quarter 2025 (Q4 2025), +63% from a year earlier and +43% from the quarter before.
Was Sunoco LP profitable in the fourth quarter 2025?
Operating profit was $184M (2.1% of revenue) and net earnings $97.0M.
Source: Sunoco LP 10-K on SEC EDGAR.