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Sun Communities (SUI)
NYSE:SUI
Earnings Data
Report Date
Apr 27, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.25Last Year’s EPS
-0.34Same Quarter Last Year
Strong Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational execution, beat-to-guidance results, meaningful balance sheet improvement, sizable capital returns, and continued strategic investments in technology and operations. These positives are tempered by near-term challenges in the RV transient business, UK expense/macro pressures (including minimum wage impacts), and conservative 2026 guidance that excludes incremental acquisitions or buybacks. Overall, management presents a constructive, disciplined growth strategy with clear remediation plans for underperforming areas.Company Guidance
FFO Per Share Beats Guidance
Core FFO per share was $1.40 for Q4 (beat the high end of guidance by $0.10) and $6.68 for full-year 2025 (beat the high end by $0.01). 2026 full-year core FFO per share guidance midpoint is $6.93 (range $6.83–$7.03) with Q1 2026 guided to $1.28.
Strong Same-Property NOI and Revenue Growth in North America
North American same property NOI grew 7.9% in Q4 and 5.7% for the full year 2025. Q4 growth was driven by 5.9% revenue growth and only 2.0% expense growth. Manufactured housing same-property NOI increased 8.8% in Q4 (revenue +7.3%, operating expenses +3.2%) and delivered ~8.9% same-property NOI for the full year, exceeding guidance. MH occupancy is very high at ~98.1% (same-property) with blended occupancy over 99%.
RV Operational Improvements and Annual Conversions
RV same-property NOI increased 5.0% in Q4 (revenue +2.7%, operating expenses up ~60 bps). The company converted roughly 600 transient sites to annual RV in 2025 and reported strong annual RV growth (referenced ~9.8% previously), with initiatives to stabilize booking trends and expand booking channels.
Material Balance Sheet Strengthening and Liquidity
Sun repaid over $3.3 billion of total debt in 2025, ended the year at 3.4x net debt to trailing-12-month EBITDA, no floating-rate exposure, weighted average interest rate 3.4%, weighted average maturity 7.1 years, and $636 million cash. Company closed a $2.0 billion undrawn five-year credit facility.
Capital Return and Shareholder Actions
Returned over $1.5 billion to shareholders in 2025: repurchased ~4.3 million shares for ~$539 million and an additional 456,000 shares (~$57.3 million) after year-end. Board approved an ~8% increase to the quarterly distribution (~$0.08 per share).
Credit Rating Upgrades and Portfolio Simplification
Received two credit rating upgrades in 2025 (S&P to BBB+ and Moody's to Baa2). Executed simplification strategy: sold over $200 million of non-strategic assets/land, used 1031 proceeds to acquire 14 MH/annual RV communities totaling $457 million, and purchased titles to 32 UK properties for ~$387 million to convert ground leases to freehold.
Forward-Focused Operational and Technology Strategy
Management emphasized a unified digital backbone built on NetSuite, plans for centralized contact center/customer-journey improvements, data-driven revenue management, OTA and digital booking expansions for RV, and targeted investments to sharpen execution and improve margins.
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
SUI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $132.59 | $135.78 | +2.41% |
Oct 29, 2025 | $119.53 | $122.87 | +2.79% |
Jul 30, 2025 | $115.66 | $123.03 | +6.37% |
May 05, 2025 | $124.16 | $118.70 | -4.39% |
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.
FAQ
When does Sun Communities (SUI) report earnings?
Sun Communities (SUI) is schdueled to report earning on Apr 27, 2026, After Close (Confirmed).
What is Sun Communities (SUI) earnings time?
Sun Communities (SUI) earnings time is at Apr 27, 2026, After Close (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 2026 (Q1) is 0.25.