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Sun Communities (SUI)
NYSE:SUI
Earnings Data
Report Date
Apr 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.02Last Year’s EPS
-0.22Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 26, 2025
|% Change Since: -1.95%
|Next Earnings Date:Apr 23, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant strategic moves that improved financial metrics and set the company on a path for future growth, particularly with the successful sale of Safe Harbor Marinas. While there were some challenges noted in the U.K. operations and RV segment, the overall sentiment was positive, driven by strategic asset disposals, improved leverage, and strong core property performance.Company Guidance
During the Sun Communities Fourth Quarter and Year-End 2024 Earnings Conference Call, management provided detailed guidance for 2025, including a strategic repositioning through the sale of Safe Harbor Marinas to Blackstone Infrastructure for $5.65 billion, which is expected to significantly enhance the company's financial metrics. This transaction is anticipated to improve Sun's net debt-to-EBITDA ratio from 6x to between 2.5 and 3x post-sale. The sale, representing a 21x multiple on Safe Harbor's 2024 FFO, will refocus Sun on its core manufactured housing (MH) and recreational vehicle (RV) segments, increasing these segments' contribution to over 90% of total NOI. For 2025, the company projects North American same-property NOI growth of 5%, driven by a 4.2% revenue increase and a 3% expense growth, while core FFO per share guidance is yet to be finalized pending the transaction's closing. The company is also implementing a $15 million to $20 million restructuring plan, having already realized $11 million in G&A savings, and plans to continue seeking efficiencies in operations.Strategic Asset Disposal Success
Successfully disposed of approximately $570 million of nonstrategic assets and announced the sale of Safe Harbor Marinas for $5.65 billion, representing a 21x multiple on 2024 FFO and a $1.3 billion gain.
Improved Leverage Profile
Improved net debt-to-EBITDA ratio to 6x by year-end 2024, with an expected post-sale net debt-to-EBITDA ratio between 2.5 and 3x.
Strong Core Property Performance
North American same-property NOI growth was 4.1% for the year, with manufactured housing segment same-property NOI increasing by 7.1%.
Record FFO Per Share
Core FFO per share was $6.81 for the full year, a 5.2% increase from the prior year.
Cost Savings Achievements
Captured approximately $11 million of G&A savings and $4 million in operating expense savings in the fourth quarter, with expectations to expand savings by an additional $3 million to $5 million.
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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 |
|---|---|---|---|
| Feb 26, 2025 | $133.97 | $133.21 | -0.57% |
| 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% |
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 Apr 23, 2025, TBA Not Confirmed.
What is Sun Communities (SUI) earnings time?
Sun Communities (SUI) earnings time is at Apr 23, 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 2025 (Q1) is -0.02.
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