Quarterly ResultApr 28, 2026, 05:12 PM
ELS Q1 Revenue +2.7% to $397.6M; Net Income -2.5% to $111.5M
AI Summary
Equity Lifestyle Properties reported Q1 2026 total revenues of $397.6 million, a 2.7% increase year-over-year, while consolidated net income decreased by 2.5% to $111.5 million. Basic EPS also saw a slight decline to $0.56. The company increased its quarterly distribution per share to $0.5425 and reduced its unsecured line of credit balance. An antitrust litigation regarding manufactured home lot rents is ongoing.
Key Highlights
- Total revenues increased 2.7% to $397.6 million for Q1 2026.
- Consolidated net income decreased 2.5% to $111.5 million for Q1 2026.
- Basic Earnings per Common Share was $0.56, down from $0.57 in Q1 2025.
- Net cash provided by operating activities rose 0.4% to $194.2 million.
- Quarterly distribution per share increased to $0.5425 for Q1 2026.
- Unsecured line of credit balance reduced to $89.5 million from $105.0 million.
- Property Operations segment NOI was $207.2 million in Q1 2026.
- Ongoing Datacomp Litigation, with defendants filing a motion to dismiss on March 31, 2026.