ELS Q1 2020 Earnings Report
Key Takeaways
Equity LifeStyle Properties reported an increase in total revenues by $21.4 million, reaching $280.5 million for the quarter ended March 31, 2020. Net income available for Common Stockholders decreased by $46.4 million to $66.9 million, or $0.37 per Common Share.
Total revenues increased $21.4 million, or 8.3 percent, to $280.5 million compared to the same period in 2019.
Net income available for Common Stockholders decreased $46.4 million, or $0.26 per Common Share, to $66.9 million, or $0.37 per Common Share, compared to the same period in 2019.
Funds from Operations (“FFO”) available for Common Stock and OP Unit holders increased $4.3 million, or $0.02 per Common Share, to $112.3 million, or $0.58 per Common Share, compared to the same period in 2019.
Normalized Funds from Operations (“Normalized FFO”) available for Common Stock and OP Unit holders increased $5.6 million, or $0.03 per Common Share, to $113.3 million, or $0.59 per Common Share, compared to the same period in 2019.
ELS
ELS
Forward Guidance
Given the uncertainty surrounding the economic impact of the COVID-19 pandemic and the impact of operational changes we have and may implement in response to the pandemic, we are withdrawing our full year 2020 guidance.