SUN COMMUNITIES INC reported results for the second quarter of 2026 with revenue of $484.6M and a net loss attributable to common shareholders of $992.7M, or diluted loss per share of $(8.08), versus revenue of $495.9M, net income of $1273.6M and diluted EPS of $10.02 in the year‑ago quarter.
Financial Highlights
- Revenue was $484.6M for Q2 2026, down from $495.9M in Q2 2025 (YoY change (2.3%)).
- Net income attributable to SUI common shareholders was $(992.7)M for Q2 2026, versus $1,273.6M in Q2 2025.
- Diluted earnings per share was $(8.08) for Q2 2026, versus $10.02 in Q2 2025.
Business Highlights
- Portfolio shift: The sale of Park Holidays refocused the company on core North American manufactured home (MH) and RV operations; assets related to Park Holidays are classified as held for sale and reported as discontinued operations.
- Same-property performance: Same-property NOI increased about 6% year over year, driven by MH gains (MH NOI up 8.8% in Q2 and 7.5% year to date) supported by rental rate increases and occupancy improvements.
- Seasonality in RV business: RV revenues are strongly seasonal (April–September), with transient RV revenue concentrated in Q2, supporting higher quarterly RV performance.
- Home sales pullback: Home sales NOI declined about 51% in Q2 and about 56% year to date due to fewer units sold and reduced expansion/development activity.
- Operational focus: Management continues to emphasize rental program outperformance, expense management, and selective acquisitions and developments.
Original SEC Filing:
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