Sunoco reports $101 million loss in first quarter

    Sunoco Inc. has reported a $101 million loss in the first quarter of 2011 — far more than last year’s first quarter loss and more than analysts predicted.

    As the Philadelphia Business Journal reports, the 84 cents per diluted share loss is 12 times more than the average estimate by analysts. Last year’s first quater loss was $63 million.

    The loss is attributed to the rise in crude oil prices and operational reliability issues at two of it refineries.

    • WHYY thanks our sponsors — become a WHYY sponsor

    WHYY is your source for fact-based, in-depth journalism and information. As a nonprofit organization, we rely on financial support from readers like you. Please give today.

    Want a digest of WHYY’s programs, events & stories? Sign up for our weekly newsletter.

    Together we can reach 100% of WHYY’s fiscal year goal