Equity Lifestyle Properties, Inc. (ELS) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, everyone, and thank you all for joining us to discuss Equity Lifestyle Properties second quarter 2026 results. Our featured speakers today are Marguerite Nader, our vice chairman and CEO, Patrick Waite, our president and CEO, and Paul Seavey, our executive vice president and CFO. In advance of today's call, Management Release Earnings, today's call will consist of opening remarks and questions and answers session with management relating to the company's earnings release. For those who would like to participate in the question and answer session, management asks that you limit yourself to one question, so everyone who would like to participate has ample opportunity. As a reminder, this call is being recorded. Certain matters discussed during this conference call may contain forward-looking statements in the meanings of federal security laws. Our forward-looking statements are subject to certain economic risks and uncertainty. The company assumes no obligation to update or supplement any statements that become untrue because of subsequent events. In addition, during today's call, we will discuss non-GAAP financial measures as defined by SEC Regulation G, Reconciliations of these non-GAAP financial measures to the comparable GAAP financial measures are included in our earnings release, our supplemental information, and our historical SEC filings. At this time, I'll now turn the call over to Marguerite Nader, our Vice Chairman and CEO. Good morning, and thank you for joining us today. I am pleased to discuss our operating results. For the quarter, our NOI increased 6.5% as compared to last year. We focus on translating NOI growth to normalized FFO growth driven by continued strength in our annual revenue streams and managed expenses throughout our portfolio. O...