Sunoco Inc., which announced plans this week to merge with Energy Transfer Partners L.P., reported first-quarter net income on Wednesday of $248 million, or $2.32 per share, compared to a net loss of $101million or 84 cents per share a year ago.
When special items were excluded, the company lost $53 million for the quarter. Special items included gains on inventory and a $104 million gain related to the participation payment received in April in connection with the sale of its Toledo refinery in March 2011.
