Equity Lifestyle posts Q2 results: Revenue $397.8M, Normalized FFO $0.74/sh
ELS
Equity Lifestyle reported second-quarter 2026 results with total revenues of $397.8 million and consolidated net income of $99.5 million. Normalized FFO per common share and OP unit was $0.74 for the quarter and $1.58 for the six months, and the company updated full-year 2026 Normalized FFO guidance to a $3.13–$3.23 range. Management highlighted Core portfolio same-period operating strength, including growth in MH base rental income and controlled property operating expense increases
- Total revenues: $397.8 million for Q2 2026 (quarter ended June 30, 2026).
- Consolidated net income: $99.5 million for Q2 2026; net income available for common stockholders: $96.3 million.
- Normalized FFO per common share and OP unit: $0.74 for Q2 2026 and $1.58 for the six months ended June 30, 2026.
- FFO per common share and OP unit: $0.77 for Q2 2026; FFO available for common stock and OP unit holders: $154.5 million for Q2 2026.
- Balance sheet and capital metrics as of June 30, 2026: total assets $5,800.7 million; total debt $3,336 million; total market capitalization $16,252 million.
Business Highlights
- Core portfolio performance: Core income from property operations, excluding property management, grew 6.5% in the quarter versus Q2 2025 and 5.7% for the six-month period.
- MH segment: Core manufactured-home (MH) base rental income rose 5.8% for the quarter and 5.7% for the six months; occupied MH sites increased by 13 in the quarter and 67 year-to-date, with 235 home sales in Q2 and 463 in the six months.
- RV and marina segment: Core RV and marina base rental income increased 1.8% in the quarter; annual RV and marina base rental income showed stronger growth (5.4% quarter-over-quarter and 4.8% year-to-date on an annualized basis).
- Operational expense control: Core property operating expenses excluding property management rose 2.9% in the quarter and 2.3% year-to-date versus prior year, below property operating revenue growth rates.
- Strategic actions and portfolio changes: On April 30, 2026 the company acquired remaining ownership interests in certain joint ventures, resulting in consolidation of seven RV properties and one land parcel, increasing net investment in real estate.
Original SEC Filing:EQUITY LIFESTYLE PROPERTIES INC [ ELS ] – 8-K – Jul. 23, 2026
DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.
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