SOURCE: Industrial Info Resources

November 10, 2008 07:00 ET

Sunoco Reports Solid Third-Quarter Earnings in a Challenging Financial Year, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - November 10, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Sunoco Incorporated (NYSE:SUN) (Philadelphia, Pennsylvania), a petroleum refiner and chemicals manufacturer, released its third-quarter 2008 earnings report on November 5. The company operates in five business sectors, with petroleum refining being the most important sector. Profits from all sectors were up from 3Q07. Net income for the quarter was $549 million, compared with $216 million last year. As Lynn Elsenhans, Sunoco's CEO, said, the company faced "an extremely challenging market environment in the first half of 2008," and year-to-date net income stands at $572 million, compared with $900 million in the same period in 2007. Industrial Info is currently tracking more than $620 million of current and planned Sunoco projects.

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