Benchmark Comments On Weak 2Q Results For Sunoco

According to Benchmark, Sunoco

adjusted second quarter earnings of $0.40 per share were well below both its $0.64 estimate as well as the prevailing consensus forecast of $0.55 per share. Benchmark said that the variance was driven primarily by weaker retail fuels marketing results, attributable to both higher than expected operating costs as well as lower gasoline margin capture. “Sunoco's overall financial position has improved significantly despite the comparatively weak earnings performance over the last several years primarily attributable to the Company's divestiture program, including the recent initial public offering of a