Question · Q4 2025
David Siegel asked if the MH portfolio guidance, which implies most growth from rent and a small bump from other income, combined with higher expansion sites, suggests a further dip in occupancy for the year. He also questioned why RV performance in Q4 landed below guidance, specifically what factors in December caused the lag.
Answer
Paul Seavey (EVP and CFO) clarified that the company's practice is not to make specific occupancy gain assumptions in guidance. Marguerite Nader (CEO) explained that the Q4 RV performance lagged due to a 'weather effect' in December, with moderate temperatures in the north leading to fewer bookings compared to previous years, which was the opposite of the positive weather-driven bookings seen in January.
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