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Equity LifeStyle Properties Reports First Quarter 2026 Results

CHICAGO, April 21, 2026 - Equity LifeStyle Properties, Inc. (NYSE: ELS) outlines its financial outcomes for the quarter ending March 31, 2026. The reported figures reflect a robust performance in various revenue segments, showcasing their continuous growth despite slight fluctuations in specific areas.

Financial Highlights

In the first quarter of 2026, the company reported:

• - Net Income per Common Share: $0.56, a decline of 2.6% from $0.57 in 2025.
• - Funds from Operations (FFO): Remained steady at $0.83 per common share with minimal change from the prior year.
• - Normalized FFO: Increased 0.3% year-on-year to $0.84, aligning with the company's projections which predicted a stable range between $0.81 to $0.87.

These results indicate a minor dip in net income, but the funds from operations remain consistent, demonstrating the company’s resilience amidst market fluctuations.

Operational Insights

Revenue Breakdown

• - Core Property Operating Revenues: Welcomed a 3.7% increase, reflecting the strength of their property operations.
• - Core Operating Expenses: Increased moderately by 1.8%, while the Core Income from property operations rose by 4.9%, indicating effective management of operational expenditures.

Manufactured Homes and Rental Income

The revenue generated from manufactured homes saw a notable 5.7% growth, underscoring the demand and value in this segment. In contrast, rental income from RV and marina services experienced a slight decrease of 1.4% compared to the previous year. However, the annual base rental income for these sectors improved by 4.2%.

Future Expectations

As part of their forward-looking strategy, Equity LifeStyle Properties has defined its second quarter and full year guidance:

• - Net Income per Common Shares Expected: Ranges from $0.42 to $0.48 for Q2 and projected at $2.02 to $2.12 for the full year 2026.
• - FFO Estimates: Aimed between $0.69 to $0.75 quarterly and $3.11 to $3.21 for the full year.
• - Normalized FFO Guidance: Matches FFO projections at $0.69 to $0.75 for Q2, increasing to $3.12 to $3.22 for the complete fiscal year.

Management stresses that these estimates are forecasts, as actual results may differ based on unforeseen market conditions or operational challenges.

Conclusion

Equity LifeStyle Properties continues to navigate the real estate landscape effectively. The slight adjustments in income have not deterred their growth trajectory as evidenced by the consistency in funds from operations. The focus moving forward will center on maintaining operational efficiency and capitalizing on the demand within the manufactured home market while adapting to shifts within RV and marina segments. Stakeholders are encouraged to monitor updates released during the forthcoming conference call, further detailing these outcomes and strategies ahead.

For further inquiries or information, contact Equity LifeStyle’s Investor Relations at (800) 247-5279 or visit www.equitylifestyleproperties.com.