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Sunoco posts loss in Q3
Monday, November 09, 2009 5:54 AM


(Source: Datamonitor)trackingUS-based petroleum refiner and marketer Sunoco has reported a net loss of $312 million, or $2.67 per diluted share, for the third quarter of 2009, compared to a net income of $549 million, or $4.70 per diluted share, for the same period of 2008.

The company has reported revenues of $8.69 billion for the third quarter of 2009, compared to $15.15 billion for the same period of 2008.

Sunoco has reported a net loss of $355 million, or $3.04 per diluted share, for the first nine months of 2009, compared to a net income of $572 million, or $4.88 per diluted share, for the corresponding period of 2008.

Year-to-date revenues were $$22.34 billion, compared to $42.43 billion for the first nine months of 2008.

Lynn Elsenhans, chairman and CEO of Sunoco, said: "During the third quarter, refining and chemicals results continued to be impacted by weak demand, but our other businesses continued to generate steady earnings.

"The earnings contribution from our non-refining businesses improved to $102 million in the third quarter, up from $78 million in the second quarter. Retail marketing benefited from stable wholesale prices, earning $49 million, while logistics earned $19 million and our coke business earned $35 million."

A service of YellowBrix, Inc.



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