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Sun Communities (SUI) Q3 FY26 earnings results (third quarter fiscal 2026)
10-K filed Feb 25, 2026
Sun Communities (SUI) reported revenue of $515M for the third quarter fiscal 2026 (Q3 FY26), +0.1% from a year earlier and -26% from the quarter before. Operating margin was 1.0%, net earnings $122M (23.7% of revenue).
Sun Communities, Q3 FY26: revenue $515M (+0.1% year over year), operating margin 1.0%, net earnings $122M, operating cash flow $166M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $515M | -26% | +0.1% |
| Operating profit | $5.3M | — | — |
| Net earnings | $122M | +907% | — |
| Operating cash flow | $166M | -16% | +41% |
What changed
Revenue was $515.2M in Q3 FY26, roughly flat year over year and down 26% from the previous quarter.
Operating profit was $5.3M, a 1.0% margin (up 45.5 points year over year). Total costs fell 31% while revenue was flat. Net earnings were $121.9M. The effective tax rate was 0.0%. Non-operating items added $125.3M, 96% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $166.5M (up 41% year over year), 127% of net income including minority interests. Non-cash charges added back $130.6M of depreciation and amortization and $13.2M of share-based compensation. Working capital and other items used $107.9M.
Questions
What was Sun Communities' revenue in the third quarter fiscal 2026?
Sun Communities (SUI) reported revenue of $515M for the third quarter fiscal 2026 (Q3 FY26), +0.1% from a year earlier and -26% from the quarter before.
Was Sun Communities profitable in the third quarter fiscal 2026?
Operating profit was $5.3M (1.0% of revenue) and net earnings $122M.
Source: Sun Communities 10-K on SEC EDGAR.