Equity Lifestyle Properties reported results for the second quarter of 2026 with revenue of $397.8M, net income attributable to common stockholders of $96.3M and diluted EPS of $0.5, each up versus the year-ago quarter.
Financial Highlights
- Revenue was $397.8M, compared with $376.9M in the prior-year quarter; YoY change 5.6%.
- Net income was $96.3M, compared with $79.7M in the prior-year quarter; YoY change 20.8%.
- Diluted EPS was $0.5, compared with $0.42 in the prior-year quarter; YoY change 19%.
Business Highlights
- Core portfolio property operating revenue grew about 4.9% quarter-over-quarter, contributing to a 6.5% increase in income from property operations excluding management.
- Channel shifts were evident: annual RV and marina base rents rose roughly 5.4%, while seasonal and transient RV income declined due to mix and occupancy changes.
- New home sales volumes fell to 98 units from 117 in the prior-year quarter, but rental operations revenue increased about 13% with occupied rental units up roughly 8%.
- Capital investment continued, with approximately $109M of capex year-to-date focused on preservation, upgrades, site development and hurricane restorations.
- Core manufactured home occupancy remained around 93.8%, with an emphasis on converting renters to homeowners and growing membership subscription revenue.
Original SEC Filing:
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