Sunoco CEO Expects $500 Million Acquisition Benchmark to Be a Modest Bar in 2027

Sunoco LP expects to finish 2026 with roughly $1.5 billion in bolt-on acquisitions, while President and CEO Joe Kim expects the company’s $500 million annual benchmark to be a modest bar in 2027 and beyond.

On Tuesday’s third-quarter earnings call, Kim said Sunoco had exceeded that benchmark in 2026. “We exceeded this amount in 2026, and we expect this to be a modest bar in 2027 and beyond,” he said. The $500 million figure was part of an existing multiyear acquisition plan, not a new target specifically for 2027.

Kim also said Sunoco was “very well positioned for 2027 to be another record year, even if refining cracks are closer to the mid-cycle levels.” The company has not issued a specific earnings forecast for 2027.

Sunoco expects to exceed its 2026 adjusted EBITDA guidance range of $3.5 billion to $3.7 billion. It completed its acquisition of Offen Petroleum on Oct. 27.

For the quarter ended Sept. 30, adjusted EBITDA was $1.049 billion, including $11 million in transaction-related expenses. Excluding those expenses, adjusted EBITDA was $1.060 billion. Adjusted distributable cash flow totaled $588 million.