Earnings Preview: Sunoco

Aug. 6.08 | About: Sunoco LP (SUN)

Sunoco (NYSE:SUN) is expected to report Q2 earnings after market close today (Aug. 6) with a conference call scheduled for 3:00 pm ET Thursday Aug. 7.


Analysts are looking for a profit of 30c on revenue of $12.47B. The consensus range is (15c) to 55c for EPS, and $12.0B to $12.94B for revenue, according to First Call.

Analyst Views

On July 18, Bernstein downgraded the entire refining sector to Market Weight based on weakening earnings outlook for the group, and also downgraded Sunoco to Market Perform from Outperform, lowering its price target to $32 from $51.

Note this is the last quarter with John G. Drosdick as the CEO and president, as he is retiring effective August 8, giving the reins to new CEO and president Lynn Laverty Elsenhans.