Equity Lifestyle Properities (ELS) Reports In-Line Q3 EPS, Revenues Beat
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Revenue Growth %: -100.0%
Financial Fact:
Equity in income of unconsolidated joint ventures: 496K
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Equity Lifestyle Properities (NYSE: ELS) reported Q3 EPS of $0.28, in-line with the analyst estimate of $0.28. Revenue for the quarter came in at $285 million versus the consensus estimate of $143.43 million.
Financial Results for the Quarter and Nine Months Ended September 30, 2020
For the quarter ended September 30, 2020, total revenues increased $13.8 million, or 5.1 percent, to $285.0 million compared to $271.2 million for the same period in 2019. For the quarter ended September 30, 2020, net income available for Common Stockholders decreased $13.9 million, or $0.07 per Common Share, to $50.6 million, or $0.28 per Common Share, compared to $64.5 million, or $0.35 per Common Share, for the same period in 2019.
For the nine months ended September 30, 2020, total revenues increased $41.0 million, or 5.3 percent, to $819.6 million compared to $778.6 million for the same period in 2019. For the nine months ended September 30, 2020, net income available for Common Stockholders decreased $60.6 million, or $0.34 per Common Share, to $163.6 million, or $0.90 per Common Share, compared to $224.2 million, or $1.24 per Common Share, for the same period in 2019. The financial results for 2019 included a gain of $52.5 million on the sale of five all-age MH communities.
For earnings history and earnings-related data on Equity Lifestyle Properities (ELS) click here.
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