Filing Flows › Equity Lifestyle Properties (ELS) › Q2 2026
Equity Lifestyle Properties (ELS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 28, 2026
Equity Lifestyle Properties (ELS) reported revenue of $398M for the second quarter 2026 (Q2 2026), +6% from a year earlier and 0% from the quarter before. Operating margin was 25.0%, net earnings $99.5M (25.0% of revenue).
Equity Lifestyle Properties, Q2 2026: revenue $398M (+6% year over year), operating margin 25.0%, net earnings $99.5M, operating cash flow $148M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $398M | 0% | +6% |
| Operating profit | $99.4M | -12% | +18% |
| Net earnings | $99.5M | -11% | +19% |
| Operating cash flow | $148M | -24% | +13% |
| Free cash flow | $83.8M | -44% | +17% |
What changed
Revenue was $397.8M in Q2 2026, up 6% year over year and roughly flat from the previous quarter.
Operating profit was $99.4M, a 25.0% margin (up 2.6 points year over year). Of the extra revenue versus Q2 2025, 72% reached operating profit, above the 22% margin then. Total costs grew 2% against revenue growth of 6%. The fastest-growing cost line was General & admin (+14%). Net earnings were $99.5M, up 19% year over year. The effective tax rate was 0.0%.
Operating cash flow was $147.9M (up 13% year over year), 149% of net earnings. Non-cash charges added back $53.6M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items used $7.4M. Capital expenditures of $64.2M left free cash flow of $83.8M.
Questions
What was Equity Lifestyle Properties' revenue in the second quarter 2026?
Equity Lifestyle Properties (ELS) reported revenue of $398M for the second quarter 2026 (Q2 2026), +6% from a year earlier and 0% from the quarter before.
Was Equity Lifestyle Properties profitable in the second quarter 2026?
Operating profit was $99.4M (25.0% of revenue) and net earnings $99.5M.