0001552275-20-000009.txt : 20200324 0001552275-20-000009.hdr.sgml : 20200324 20200324165505 ACCESSION NUMBER: 0001552275-20-000009 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20200324 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200324 DATE AS OF CHANGE: 20200324 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Sunoco LP CENTRAL INDEX KEY: 0001552275 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] IRS NUMBER: 300740483 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35653 FILM NUMBER: 20739036 BUSINESS ADDRESS: STREET 1: 8111 WESTCHESTER DR., SUITE 400 CITY: DALLAS STATE: TX ZIP: 75225 BUSINESS PHONE: (832) 234-3600 MAIL ADDRESS: STREET 1: 8111 WESTCHESTER DR., SUITE 400 CITY: DALLAS STATE: TX ZIP: 75225 FORMER COMPANY: FORMER CONFORMED NAME: Susser Petroleum Partners LP DATE OF NAME CHANGE: 20120614 8-K 1 covid-19update8k.htm 8-K Document
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Act of 1934

March 24, 2020
Date of Report (Date of earliest event reported)

SUNOCO LP
(Exact name of registrant as specified in its charter)
Delaware
001-35653
30-0740483
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
8111 Westchester Drive, Suite 400
Dallas
,
Texas
75225
(Address of principal executive offices, including zip code)
(214) 981-0700
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Units Representing Limited Partner Interests
SUN
New York Stock Exchange





Item 7.01. Regulation FD Disclosure.
On March 24, 2020, Sunoco LP issued a press release providing revised capital guidance and an operational update regarding the COVID-19 pandemic.
A copy of the press release is set forth in Exhibit 99.1 and is incorporated herein by reference. In accordance with General Instruction B.2 of Form 8-K, the information set forth in the attached Exhibit 99.1 is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number
 
Exhibit Description
 
 
 
99.1
 
 
 
 
104
 
Cover Page Interactive Data File (embedded within the Inline XBRL document)






SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
SUNOCO LP
 
 
By:
Sunoco GP LLC, its general partner
Date:
March 24, 2020
By:
/s/ Camilla A. Harris
 
 
 
Camilla A. Harris
 
 
 
Vice President, Controller and Principal Accounting Officer



EX-99.1 2 ex99120200324pressrele.htm EXHIBIT 99.1 Exhibit
Exhibit 99.1

sunocolpa05.jpg
News Release
Sunoco LP Announces Revised Capital Guidance and Provides an Operational Update

DALLAS, March 24, 2020 - Sunoco LP (NYSE: SUN) (“SUN” or the “Partnership”) today provided revised capital guidance and an operational update in response to the COVID-19 pandemic.

“Our products are critical to United States infrastructure and SUN is committed to responding with actions that will ensure that there is continuity of supply,” said Joe Kim, CEO of Sunoco LP. “Furthermore, the Partnership is undertaking immediate action to ensure continued financial stability.”

SUN is taking the following proactive measures:

Reduce full year 2020 growth capital expenditures to approximately $75 million from its previous guidance of approximately $130 million, a decrease of over 40%
Reduce full year 2020 maintenance capital expenditures to $30 million from its previous guidance of $45 million, a decrease of over 30%
Reduce operating costs, particularly targeting general and administrative and other operating expenses
Maintain ample liquidity under its $1.5 billion revolving credit facility that matures in July 2023. The Partnership has no debt maturities prior to 2023
Take appropriate actions to maintain a safe working environment for its employees and partners
Enact policies and prepare contingency plans to support business and supply chain continuity

SUN plans to provide a more comprehensive update as part of its first quarter earnings release in May.

Sunoco LP (NYSE: SUN) is a master limited partnership with core operations that include the distribution of motor fuel to approximately 10,000 convenience stores, independent dealers, commercial customers and distributors located in more than 30 states as well as refined product transportation and terminalling assets. SUN's general partner is owned by Energy Transfer Operating, L.P., a wholly owned subsidiary of Energy Transfer LP (NYSE: ET).
Forward-Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
The information contained in this press release is available on our website at www.SunocoLP.com

Contacts

Investors:
Scott Grischow, Vice President - Investor Relations and Treasury
(214) 840-5660, scott.grischow@sunoco.com

Derek Rabe, CFA, Manager - Investor Relations, Growth and Strategy
(214) 840-5553, derek.rabe@sunoco.com

Media:
Alexis Daniel, Manager - Communications
(214) 981-0739, alexis.daniel@sunoco.com



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Document and Entity Information Document
Mar. 24, 2020
Document And Entity Information [Abstract]  
Amendment Flag false
Document Type 8-K
Written Communications false
Title of 12(b) Security Common Units Representing Limited Partner Interests
Entity Address, Address Line One 8111 Westchester Drive, Suite 400
Entity Incorporation, State or Country Code DE
Document Period End Date Mar. 24, 2020
Entity File Number 001-35653
Entity Tax Identification Number 30-0740483
Entity Address, City or Town Dallas
Entity Address, State or Province TX
Entity Address, Postal Zip Code 75225
Trading Symbol SUN
Security Exchange Name NYSE
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Registrant Name SUNOCO LP
City Area Code 214
Local Phone Number 981-0700
Entity Central Index Key 0001552275
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