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# Sun Communities Won't Say If 2027 Earnings Grow, Citing UK Sale And $10 Million Of Lost Hurricane Income
- URL: https://www.bullished.co/sun-communities-wont-say-if-2027-earnings-grow-citing-uk-sale-and-10-million-of-lost-b685d711/
- Published: 2026-10-27T16:26:05.000Z
- Updated: 2026-10-27T16:26:05.000Z
- Description: CFO Bob Garachana said the core business is growing well, but full 2027 guidance waits until fourth-quarter results in February.
- Author: Matteo Parrino
- Tags: Earnings, SUI, Industry: Real Estate

[Sun Communities](https://www.bullished.co/tag/sui/)' new chief financial officer, Bob Garachana, declined on the company's third-quarter earnings call to say whether earnings will grow in 2027, pointing to the UK sale, the end of about $10 million in Hurricane Ian business interruption income and a weaker Australian venture. Sun, which owns manufactured housing communities and RV resorts, reported [core FFO per share of $2.35](https://www.globenewswire.com/news-release/2026/10/26/3388554/0/en/sun-communities-reports-results-for-the-third-quarter-of-2026.html?ref=bullished.co), two cents above the high end of its guidance.

## Pressed on 2027 growth

An RBC Capital Markets analyst asked whether to expect growth next year given the many moving pieces. Garachana said "we're not going to give guidance yet," and called it "a little bit too early" to discuss the overall proposition.

He offered a counterweight: "our core business is very durable and growing really well." He described "some noise just with the portfolio transformation." Full 2027 guidance will come with fourth-quarter results in February.

Core FFO is the funds-from-operations measure REITs use in place of earnings. Sun's updated 2026 range is $6.97 to $7.05 per share. Garachana said that range is not comparable to the prior one, because the earlier guidance assumed a full year of UK income and the UK sale closed September 22.

## Three items that cut 2027 income

Garachana listed the offsets. The sold Fort Myers RV communities produced about $10 million of business interruption income in 2026, which along with their net operating income will not recur. Redeploying the sale proceeds, he said, "only partially offsets" that loss.

The UK business sold for net proceeds of about $1 billion. Sun says it has spent about $544 million on share repurchases this year and repaid nearly $450 million of debt. The three Fort Myers communities sold for $127 million, and Garachana said that sale funded the two Pacific Northwest manufactured housing purchases that closed after quarter end.

The Australian joint venture, a small part of the business, earns mostly from home sales. With three of its four communities largely filled, he expects fewer sales and a lower contribution in 2027.

## Rent increases lead the core case

Garachana pointed to 2027 rent increases [averaging about 5.4%](https://www.globenewswire.com/news-release/2026/10/26/3388554/0/en/sun-communities-reports-results-for-the-third-quarter-of-2026.html?ref=bullished.co) for manufactured housing and 4.4% for annual RV, both above this year's levels. President and Chief Operating Officer John McClaren said about half of manufactured housing residents had received their notices through the end of September.

Third-quarter same-property net operating income for manufactured housing rose 6.9%, with occupancy of about 98%. In RV it fell 1.3%. Rent is one input, Garachana said, and in February Sun will give more color on other levers such as occupancy, other income and the rental home program.

Sun will lay out its full 2027 outlook in February, with fourth-quarter results.

### Sources

- [Sun Communities FFO of $2.35 beats by $0.07, revenue of $558.2M misses by $16.82M (NYSE:SUI) | Seeking Alpha](https://seekingalpha.com/news/4657569-sun-communities-ffo-of-2%5F35-beats-by-0%5F07-revenue-of-558%5F2m-misses-by-16%5F82m?ref=bullished.co) — seekingalpha.com
- [sui-20261026](https://www.sec.gov/Archives/edgar/data/912593/000091259326000272/sui-20261026.htm?ref=bullished.co) — sec.gov
- [Sun Communities Reports Results for the Third Quarter of](https://www.globenewswire.com/news-release/2026/10/26/3388554/0/en/sun-communities-reports-results-for-the-third-quarter-of-2026.html?ref=bullished.co) — globenewswire.com

### More on Sun Communities

- [Sun Communities CEO Sees Rental Homes As Ripe For 'Optimization' In 2027](https://www.bullished.co/sun-communities-ceo-sees-rental-homes-as-ripe-for-optimization-in-2027-b4c2206d/)
- [Sun Communities Earns $137.1 Million From Continuing Operations After UK Sale, Raises Rent Outlook](https://www.bullished.co/sun-communities-earns-137-1-million-from-continuing-operations-after-uk-sale-raises-rent-ce6a2fb5/)
- [Sun Communities Pays For Eugene, Oregon Property With $28.3 Million In Newly Created Preferred Units](https://www.bullished.co/sun-communities-pays-for-eugene-oregon-property-with-28-3-million-in-newly-created-673f240d/)

[All Sun Communities (SUI) coverage →](https://www.bullished.co/tag/sui/)