Sunoco LP (NYSE:SUN) announced its financial guidance for 2026 on January 6, 2026. The company projects a full-year adjusted EBITDA ranging from $3.1 billion to $3.3 billion.
This outlook accounts for approximately $125 million in expected synergies from the Parkland acquisition. It also includes a planned 50-day maintenance turnaround at the Burnaby Refinery, scheduled to begin in late January. The guidance anticipates the first-quarter closing of the TanQuid acquisition.
The forecast assumes growth capital expenditures of at least $600 million. Maintenance capital expenditures are expected to be between $400 million and $450 million.
Sunoco LP outlined its capital allocation strategy. This involves a multi-year pipeline of bolt-on acquisitions totaling no less than $500 million annually. The company aims to return to its long-term leverage target of four times during the year.
The strategy targets a distribution growth rate of at least 5%, supported by quarterly increases. Sunoco LP expects to increase distributable cash flow per common unit for the ninth consecutive year. It plans to provide equal dividend equivalents to its investors.
On January 5, Raymond James upgraded the company's stock. Analyst Justin Jenkins raised the rating from Outperform to Strong Buy. He maintained a price target of $70.
This upgrade is part of a broader rating adjustment in the midstream supplier sector for 2026.