---
schema_version: "secwatch.filing_event.v1"
accession: "0000912593-24-000066"
form_type: "8-K"
ticker: "SUI"
cik: "0000912593"
company_name: "SUN COMMUNITIES INC"
filed_at: "2024-02-20T23:59:59+00:00"
generated_at: "2026-06-05T23:41:23.996866+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Sun Communities restates 2023 quarterly financials; goodwill impairment errors up to $370M

## Summary
- Non-reliance on Q1-Q3 2023 unaudited financials due to goodwill impairment errors at Park Holidays.
- Goodwill impairment adjustments: Q1 net loss +$15.4M; Q2 net income to net loss -$309.7M; Q3 net income -$44.8M.
- Material weakness identified in internal controls over goodwill impairment assessments.
- Restatement to be included in 2023 10-K; no impact on cash flows, Core FFO, NOI, or Recurring EBITDA.
- Q4 and full-year 2023 earnings release issued; specific financial results not detailed in the filing.

## SEC filing metadata
- accession: 0000912593-24-000066
- form_type: 8-K
- ticker: SUI
- cik: 0000912593
- company_name: SUN COMMUNITIES INC
- filed_at: 2024-02-20T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 4.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/912593/000091259324000066/0000912593-24-000066-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/912593/000091259324000066/sui-20240215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000912593-24-000066
- JSON: https://secwatch.observer/filing/0000912593-24-000066.json
- Plain text: https://secwatch.observer/filing/0000912593-24-000066.txt

## Key facts
- Auditor Changes
  SUN COMMUNITIES INC reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On February 15, 2024, the Audit Committee of the Board of Directors (the “Audit Committee”) of the Company, after discussion with the management of the Company, concluded that the Interim Financial Statements should no longer be relied upon due to errors in such financial statements. Similarly, any previously furnished or filed reports, related earnings releases, investor presentations or similar communications of the Company describing the Interim Financial Statements should no longer be relied upon. The Company determined that each of the Interim Financial Statements contained an error relating to non-cash goodwill impairment and that a restatement of the Interim Financial Statements is required. The non-cash goodwill impairments result in the following negative adjustments to net income / (loss) in the Interim Financial Statements: • For the three months ended March 31, 2023, non-cash
  evidence_url: https://www.sec.gov/Archives/edgar/data/912593/000091259324000066/0000912593-24-000066-index.htm
- Earnings Releases
  SUN COMMUNITIES INC reported financial results for the period ended December 31, 2023.
  - Period: the period ended December 31, 2023
  - Result: reported results
  source text: announcing its financial results for the period ended December 31, 2023, and certain other information
  evidence_url: https://www.sec.gov/Archives/edgar/data/912593/000091259324000066/0000912593-24-000066-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.