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Sunoco LP: 1Q Earnings Snapshot

DALLAS (AP) _ Sunoco LP (SUN) on Wednesday reported first-quarter net income of $109 million, after reporting a loss in the same period a year earlier.

The Dallas-based company said it had profit of $1.07 per share. Earnings, adjusted for non-recurring gains, came to 52 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The master limited partnership posted revenue of $3.69 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $3.73 billion.

Sunoco LP shares have increased almost 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.52, a climb of 12% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SUN at https://www.zacks.com/ap/SUN