Q4: 2026-01-28 Earnings Summary

EPS of $0.50 misses by $0.00

| Revenue of $373.87M (0.41% Y/Y) misses by $8.40M

Equity LifeStyle Properties, Inc. (ELS) Q4 2025 Earnings Call January 29, 2026 11:00 AM EST

Company Participants

Marguerite Nader - CEO & Non-Independent Vice Chairman Patrick Waite - President & COO Paul Seavey - Executive VP & CFO

Conference Call Participants

Michael Goldsmith - UBS Investment Bank, Research Division Jana Galan - BofA Securities, Research Division James Feldman - Wells Fargo Securities, LLC, Research Division Eric Wolfe - Citigroup Inc., Research Division Wesley Golladay - Robert W. Baird & Co. Incorporated, Research Division John Kim - BMO Capital Markets Equity Research Jason Wayne - Barclays Bank PLC, Research Division David Segall Omotayo Okusanya - Deutsche Bank AG, Research Division

Presentation

Operator

Good day, everyone, and thank you all for joining us to discuss Equity LifeStyle Properties Fourth 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.

[Operator Instructions]

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 securities laws. Our forward-looking statements are subject to certain economic risks and uncertainty. The company assumes no obligation to update or supplement any statement that becomes 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 would like to turn the call over to Marguerite Nader, our CEO.

Marguerite Nader CEO & Non-Independent Vice Chairman

Good morning, and thank you for joining us today. I am pleased to report the final results for 2025. We continued our record of strong