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