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Equity Lifestyle Properities (ELS) Reports In-Line Q3 EPS

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October 17, 2016 4:19 PM EDT

Equity Lifestyle Properities (NYSE: ELS) reported Q3 EPS of $0.83, in-line with the analyst estimate of $0.83. Revenue for the quarter came in at $226.2 million versus the consensus estimate of $116.42 million.

Quarter Ended Year Ended
December 31, 2016 December 31, 2016
Income from property operations, excluding deferrals and property management - 2016 Core (2) $116.3 $473.3
Income from property operations - Acquisitions (3) 1.6 4.8
Property management and general and administrative (19.1) (77.1)
Other income and expenses 1.6 14.2
Financing costs and other (27.6) (111.2)
Normalized FFO available for Common Stock and OP Unit holders (4) 72.8 304.0
Transaction costs — (0.9)
FFO available for Common Stock and OP Unit holders (4) 72.8 303.1
Depreciation on real estate and other (28.0) (110.3)
Depreciation on rental homes (2.7) (10.7)
Deferral of right-to-use contract sales revenue and commission, net (0.6) (2.8)
Income allocated to non-controlling interest-Common OP Units (3.2) (14.0)
Net income available for Common Stockholders $38.3 $165.3
Net income per Common Share - fully diluted (5) $0.42 - $0.48 $1.91 - $1.97
FFO per Common Share - fully diluted $0.75 - $0.81 $3.25 - $3.31
Normalized FFO per Common Share - fully diluted $0.75 - $0.81 $3.26 - $3.32
Weighted average Common Stock outstanding - fully diluted 92.8 92.5

(Streets sees Q4 FFO of $0.80 and FY FFO of $3.30)

For earnings history and earnings-related data on Equity Lifestyle Properities (ELS) click here.


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