Equity Lifestyle Properties FFO of $0.77 beats by $0.02, revenue of $393.3M beats by $3.91M

* Equity Lifestyle Properties press release [https://seekingalpha.com/pr/20276327-els-reports-third-quarter-results] (NYSE:ELS [https://seekingalpha.com/symbol/ELS]): Q3 FFO of $0.77 beats by $0.02.
* Revenue of $393.3M (+1.6% Y/Y) beats by $3.91M.
*
Guidance Update (1)

($ in millions, except per share data)

2025

Fourth Quarter

Full Year

Net Income per Common Share

$0.49 to $0.55

$1.96 to $2.06

FFO per Common Share and OP Unit

$0.75 to $0.81

$3.03 to $3.13

Normalized FFO per Common Share and OP Unit

$0.75 to $0.81

$3.01 to $3.11

2024 Actual

2025 Growth Rates

Core Portfolio:

Fourth Quarter

Full Year

Fourth Quarter

Full Year

MH base rental income

$ 179.9

$ 709.4

5.2% to 5.8%

5.0% to 6.0%

RV and marina base rental income (2)

$ 98.9

$ 426.9

0.3% to 0.9%

-0.2% to 0.8%

Property operating revenues

$ 335.8

$ 1,361.8

3.0% to 3.6%

2.7% to 3.7%

Property operating expenses, excluding property management

$ 133.4

$ 577.6

1.3% to 1.9%

0.4% to 1.4%

Income from property operations, excluding property management

$ 202.4

$ 784.2

4.1% to 4.7%

4.4% to 5.4%

Non-Core Portfolio:

2025 Full Year

Income from property operations, excluding property management

$7.2 to $11.2

Other Guidance Assumptions:

2025 Full Year

Property management and general administrative

$115.1 to $121.1

Other income and expenses

$26.2 to $32.2

Debt assumptions:

Weighted average debt outstanding

$3,170 to $3,370

Interest and related amortization

$128.5 to $134.5

*

Q4 FFO consensus of $0.79
Q4 Revenue consensus of $394.80M

FY FFO consensus is $3.06
FY Revenue consensus is $1.54B

MORE ON EQUITY LIFESTYLE PROPERTIES

* Equity LifeStyle: Buy This Durable REIT For An Overhyped Market [https://seekingalpha.com/article/4828078-equity-lifestyle-buy-durable-reit-for-overhyped-market]
* Equity LifeStyle Properties, Inc. (ELS) Presents At BofA Securities 2025 Global Real Estate Conference Transcript [https://seekingalpha.com/article/4821690-equity-lifestyle-properties-inc-els-presents-at-bofa-securities-2025-global-real-estate]
* Equity Lifestyle Properties Q3 2025 Earnings Preview [https://seekingalpha.com/news/4506298-equity-lifestyle-properties-q3-2025-earnings-preview]
* Equity Lifestyle Properties declares $0.515 dividend [https://seekingalpha.com/news/4473996-equity-lifestyle-properties-declares-0515-dividend]
* Seeking Alpha’s Quant Rating on Equity Lifestyle Properties [https://seekingalpha.com/symbol/ELS/ratings/quant-ratings]