---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-066614"
form_type: "8-K"
ticker: "ELS"
cik: "0000895417"
company_name: "EQUITY LIFESTYLE PROPERTIES INC"
filed_at: "2026-10-21T13:15:23+00:00"
generated_at: "2026-10-21T13:16:08.428259+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# ELS Q3 normalized FFO $0.79, up 4.6%; net income falls on $12.1M tax valuation allowance

## Summary
- Normalized FFO per share/OP unit $0.79 vs $0.75, +4.6% YoY, at midpoint of prior $0.76-$0.82 guidance.
- Net income per share $0.45 vs $0.50 (-11.1%); FFO per share $0.72 vs $0.77 (-6.1%), reflecting a $12.1M deferred tax valuation allowance.
- Core property revenue +4.4%, expenses +1.3%, and core property operating income +6.7% YoY for Q3 2026.
- MH core base rent +5.7%; occupied sites rose 99 and home sales totaled 244 in Q3. RV/marina base rent +2.1%, annual base rent +5.3%, memberships +8.4%.
- Preliminary 2027 assumptions: Core MH base rent growth ~5.1% and Core RV annual rent growth ~4.7%.

## SEC filing metadata
- accession: 0001628280-26-066614
- form_type: 8-K
- ticker: ELS
- cik: 0000895417
- company_name: EQUITY LIFESTYLE PROPERTIES INC
- filed_at: 2026-10-21T13:15:23+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/895417/000162828026066614/0001628280-26-066614-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/895417/000162828026066614/els-20261020.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-066614
- JSON: https://secwatch.observer/filing/0001628280-26-066614.json
- Plain text: https://secwatch.observer/filing/0001628280-26-066614.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.