Equity LifeStyle Properties Q3 Normalized Funds From Operations Rise, Revenue Declines

MT Newswires Live

2024-10-22

Equity LifeStyle Properties (ELS) reported Q3 normalized funds from operations late Monday of $0.72 per diluted share, up from $0.68 a year earlier.

Analysts surveyed by Capital IQ expected $0.72.

Revenue for the quarter ended Sept. 30 was $387.3 million, down from $388.8 million a year earlier.

Analysts polled by Capital IQ expected $397.8 million.

The company said it expects Q4 normalized funds from operations of $0.73 to $0.79. Analysts surveyed by Capital IQ are expecting $0.74.

Equity Lifestyle expects fiscal 2024 normalized funds from operations of $2.89 to $2.95, compared with the previous guidance of $2.86 to $2.96. Analysts polled by Capital IQ are looking for $2.89.

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