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Sun Communities (SUI)
NYSE:SUI
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.11Last Year’s EPS
-0.65Same Quarter Last Year
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2018
|% Change Since: -7.27%
|Next Earnings Date:Jul 25, 2018
Earnings Call Sentiment|Neutral
The earnings call reflected a mix of strategic progress in asset sales, debt reduction, and rental rate increases, but was overshadowed by disappointing financial performance, revised guidance, and high operating expenses. The company is focused on restructuring to improve future performance.Company Guidance
During the Sun Communities Third Quarter 2024 Earnings Conference Call, Gary Shiffman, the Chairman and CEO, expressed disappointment in the quarterly results and adjusted 2024 guidance, highlighting several key metrics and strategic initiatives. The company sold 8 manufactured housing communities for $300 million and 2 land parcels for $37 million, achieving $392 million in asset sale proceeds year-to-date. Total debt decreased by approximately $450 million to $7.36 billion as of September 30, 2024, with a shift in the floating-to-fixed rate mix from 21% to 6% over two years. Despite underperforming expectations with a core FFO per share of $2.34, same-property NOI in North America grew by 0.5%, driven by a revenue increase of 2.8% but offset by a 7.7% expense rise. The company identified annualized savings of $15 to $20 million, or $0.11 to $0.15 per share, for 2025. Updated guidance reduced core FFO per share for 2024 to $6.76 to $6.84, reflecting continued headwinds in transient RV revenue and higher expenses. The company remains focused on strategic initiatives, including reducing debt and increasing annual income streams, in anticipation of strong rental rate increases and restructuring for efficient growth in 2025.Asset Sales and Debt Reduction
Sun Communities disposed of 8 manufactured housing communities and 2 land parcels, raising $392 million year-to-date. Total debt reduced by approximately $450 million from the end of 2023.
Strong Rental Rate Increases
For 2025, manufactured housing rent increases average 5.2%, annual RV sites 5.1%, and U.K. and marina segments 3.7%.
Annual RV Site Conversions
Nearly 900 RV sites were converted from transient to annual in Q3, totaling almost 2,000 conversions year-to-date, increasing long-term revenue stability.
Marina Segment Growth
Same-property NOI increased by 2.5% for the quarter and 5% year-to-date in the marina segment.
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SUI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SUI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $130.75 | $122.28 | -6.48% |
| Jul 31, 2024 | $124.89 | $131.26 | +5.10% |
| Apr 29, 2024 | $117.63 | $108.84 | -7.47% |
| Feb 20, 2024 | $126.98 | $129.12 | +1.69% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Sun Communities (SUI) report earnings?
Sun Communities (SUI) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Sun Communities (SUI) earnings time?
Sun Communities (SUI) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SUI EPS forecast?
SUI EPS forecast for the fiscal quarter 2024 (Q4) is 0.11.
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