The move underscores MUSA’s sound financial position and commitment to rewarding its shareholders. As part of this initiative, the fuel retailer recently approved a repurchase authorization of up to $1.5 billion following the completion of the existing $1-billion mandate. MUSA has been committed to returning excess cash to its shareholders through continued share buyback programs. The outperformance can be attributed to higher volumes and retail fuel contribution.

Sunoco Lubricants is announcing a total re-design of. Whatever your industry and however specialized your equipment, our commitment to quality assures you a supply of premium lubricants that you can trust. MUSA announced first-quarter 2023 earnings per share of $4.80, which beat the Zacks Consensus Estimate of $4.06. We are a premier blender of automotive, heavy-duty diesel, industrial, commercial, metalworking, electrical insulating, and process oils. DRQ’s first-quarter backlog rose 6% year over year due to the increase in product bookings following improvement in market conditions. Dril-Quip reported net bookings of $53.5 million for the first quarter. Strong quarterly results were supported by improved performance of key offshore markets and some reemerging areas.įor 2023, Dril-Quip expects product bookings to increase 10-20% year over year. DRQ reported a first-quarter adjusted loss of 1 cent per share, narrower than the Zacks Consensus Estimate of a loss of 2 cents. In the first quarter, Cheniere generated an operating net cash flow of $847 million, higher than the year-ago quarter’s $800 million.ĭril-Quip, Inc. Investors interested in the energy sector might look at the following companies that presently carry a Zacks Rank #2 (Buy).Ĭheniere Energy Partners, L.P.’s CQP recorded first-quarter 2023 earnings per unit of $1.43, beating the Zacks Consensus Estimate of 70 cents. Strong quarterly earnings resulted from a rise in the volumes of LNG delivered and a lower cost of sales.įor 2023, the partnership stated its guidance for distribution per unit at $4-$4.25. Thus, the Sunoco stock appears to be a solid bet now, based on the strong fundamentals and compelling business prospects. Higher fuel volumes are expected to increase the company’s profitability.įor 2023, the fundamental outlook for the oil and gas refining sector is positive. For 2023, the company expects fuel volumes of 7.8 billion gallons, indicating an increase from the 7.7 billion gallons reported in 2022. Moreover, Sunoco expects year-over-year continuous volume improvements.

The partnership is also focusing on reducing costs and expenses, which are expected to benefit its bottom line. For 2023, the company revised its adjusted EBITDA guidance upward to $865-$915 million from the prior stated $850-$900 million.

In 2022, Sunoco generated adjusted EBITDA of $919 million, which increased 22% from $754 million reported a year ago. This will boost the partnership’s profits. Sunoco is expected to benefit from recovering gasoline demand and rising diesel fuel consumption. Higher fuel consumption and refining production in the domestic market will likely drive the demand for wholesale fuel distribution businesses. The partnership continues to generate stable cash flows by distributing more than 10 fuel brands under its long-term distribution contracts, with about 10,000 convenience stores. Sunoco is among the largest motor fuel distributors in the U.S.

Sunoco diesel