Sun Communities, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 24, 2022 at 04:47 pm EDT
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Sun Communities, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 585.7 million compared to USD 478.1 million a year ago. Revenue was USD 932.6 million compared to USD 684.3 million a year ago. Net income was USD 162.6 million compared to USD 231.7 million a year ago. Basic earnings per share from continuing operations was USD 1.32 compared to USD 2 a year ago. Diluted earnings per share from continuing operations was USD 1.32 compared to USD 2 a year ago.
For the nine months, sales was USD 1,461.6 million compared to USD 1,213.9 million a year ago. Revenue was USD 2,295.4 million compared to USD 1,730.2 million a year ago. Net income was USD 237.3 million compared to USD 367.3 million a year ago. Basic earnings per share from continuing operations was USD 1.98 compared to USD 3.27 a year ago. Diluted earnings per share from continuing operations was USD 1.97 compared to USD 3.27 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.
SUN COMMUNITIES, INC. 
