Equity Lifestyle Properties, Inc. (ELS) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, everyone, and thank you all for joining us to discuss Equity Lifestyle Properties third quarter 2025 results. Our featured speakers today are Marguerite Nader, our CEO, Patrick Waite, our president and COO, and Paul Seavey, our executive vice president and CFO. In advance of today's call, management released earnings. Today's call will consist of opening remarks and a question and answer 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 two questions 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 the federal security laws. Our forward-looking statements are subject to certain economic risk 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 filing. At this time, I would like to turn the call over to Marguerite Nader, our President and CEO. Please go ahead. Good morning and thank you for joining us today. I am pleased to discuss our third quarter results and will provide some insights into the strengths we see in 2026. Turning to the results for the third quarter, we delivered strong normalized FFO growth in line with our expectations of 4.6%. Our full year guidance shows conti...