ELS Equity LifeStyle Properties (ELS) Q2 FY26 earnings call
Equity LifeStyle Properties delivered a strong second quarter, driven by robust core portfolio performance and effective expense management, leading to a raised full-year FFO per share guidance. While the MH and annual RV segments showed consistent demand and occupancy gains, the transient RV business faced headwinds from weather and booking volatility. The company continues to focus on long-term revenue streams and strategic MH expansions, supported by favorable demographics and recent legislative changes.
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ELS operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Occupancy rate Manufactured housing portfolio | 94%Our manufactured housing portfolio represents approximately 60% of our total revenue, and these properties are currently 94% occupied.Source: earnings call transcript | 94%Our MH core portfolio represents approximately 60% of our total revenue with occupancy of 94%.Source: earnings call transcript | 0 pt |
| Occupancy rate | 93.9%Occupied sites increased 54% during the first quarter, resulting in occupancy of 93.9%.Source: earnings call transcript | 93.7%During that same period, we added 140 expansion sites, resulting in occupancy of 93.7% as of the end of June.Source: earnings call transcript | -0.2 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.