Sun Communities, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 25, 2022 at 04:59 pm EDT
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Sun Communities, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 487.7 million compared to USD 405.3 million a year ago. Revenue was USD 814.3 million compared to USD 603.9 million a year ago. Net income was USD 74 million compared to USD 110.8 million a year ago. Basic earnings per share from continuing operations was USD 0.61 compared to USD 0.98 a year ago. Diluted earnings per share from continuing operations was USD 0.61 compared to USD 0.98 a year ago.
For the six months, sales was USD 875.9 million compared to USD 735.8 million a year ago. Revenue was USD 1,362.8 million compared to USD 1,045.9 million a year ago. Net income was USD 74.7 million compared to USD 135.6 million a year ago. Basic earnings per share from continuing operations was USD 0.63 compared to USD 1.22 a year ago. Diluted earnings per share from continuing operations was USD 0.63 compared to USD 1.22 a year ago.
Sun Communities, Inc. is a fully integrated real estate investment trust (REIT). The Company owns manufactures housing (MH) and recreational vehicle (RV) communities and marinas in the United States, the United Kingdom, and Canada. The Company operates through three segments: MH communities, RV communities, and Marinas. The MH communities segment offers affordable housing to individuals and families, while also providing certain amenities. The RV communities offers affordable vacation opportunities to individuals and families with various amenities. The Marinas offers wet slip and dry storage space leases, end-to-end services, fuel sales and other amenities. The Company owns and operates, directly or indirectly, or had an interest in, a portfolio of 667 developed properties located in the United States, the United Kingdom, and Canada, including 353 MH communities, 179 RV communities and 135 marinas. The Companyâs properties contained an aggregate of 227,340 developed sites.