Sun Communities (SUI) Tops Q1 EPS by 13c, Revenues Beat; Offers 2Q & FY19 EPS Guidance Above Consensus

Sun Communities (NYSE: SUI) reported Q1 EPS of $0.40, $0.13 better than the analyst estimate of $0.27. Revenue for the quarter came in at $287.3 million versus the consensus estimate of $179.4 million.

Gary Shiffman, Chief Executive Officer of Sun Communities, stated, “Our solid momentum has continued as we started the year with strong operating results and numerous investments. We delivered another quarter of robust same community NOI growth, which along with our recent investments and expansions, contributed to our outperformance. Our extensive history of providing first-rate amenities and a focus on customer service continues to draw sustained demand. We remain confident in our outlook, maintain an attractive growth pipeline and anticipate the continued realization of the benefits of our developments and expansion opportunities as we bring them online over time.”

GUIDANCE:

Sun Communities sees Q2 2019 EPS of $0.31-$0.35, versus the consensus of $0.25.

Sun Communities sees FY2019 EPS of $1.61-$1.71, versus the consensus of $1.22.

For earnings history and earnings-related data on Sun Communities (SUI) click here.

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