Equity Lifestyle Properties (ELS) has reported 11.92 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $59.18 million, or $0.65 a share in the quarter, compared with $52.88 million, or $0.60 a share for the same period last year.
Revenue during the quarter grew 5.56 percent to $232.39 million from $220.15 million in the previous year period.
Cost of revenue rose 5.73 percent or $5.60 million during the quarter to $103.32 million. Gross margin for the quarter contracted 7 basis points over the previous year period to 55.54 percent.
Total expenses were $145.58 million for the quarter, up 5.34 percent or $7.38 million from year-ago period. Operating margin for the quarter expanded 13 basis points over the previous year period to 37.35 percent.
Operating income for the quarter was $86.80 million, compared with $81.94 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $118.90 million compared with $111.30 million in the prior year period. At the same time, adjusted EBITDA margin improved 61 basis points in the quarter to 51.16 percent from 50.56 percent in the last year period.
Revenue from real estate activities during the quarter declined 4.77 percent or $0.51 million to $10.23 million. Revenue from sale of real estate was $7.03 million for the quarter, down 14.45 percent or $1.19 million from year-ago period.
Revenue from other real estate activities during the quarter was $3.21 million, up 26.62 percent or $0.67 million from year-ago period.
Other income during the quarter was $101.46 million, up 6.44 percent or $6.14 million from year-ago period.
Net receivables were almost stable over the past one year at $34.24 million on Mar. 31, 2017.
Total assets went up marginally by 1.64 percent or $55.92 million to $3,471.04 million on Mar. 31, 2017. On the other hand, total liabilities were at $2,371.30 million as on Mar. 31, 2017, down 1.19 percent or $28.67 million from year-ago.
Return on assets moved up 11 basis points to 2.53 percent in the quarter. At the same time, return on equity moved up 19 basis points to 5.17 percent in the quarter.
Debt comes down marginally Total debt was at $2,059.32 million as on Mar. 31, 2017, down 2.23 percent or $46.98 million from year-ago. Shareholders equity stood at $1,099.75 million as on Mar. 31, 2017, up 8.33 percent or $84.59 million from year-ago. As a result, debt to equity ratio went down 20 basis points to 1.87 percent in the quarter.
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