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Sun Communities Income Statement

Revenue, expenses, and profitability over time

Sun Communities generated $2.3B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $1.1B with a 46.4% net margin. Diluted EPS is $10.98, which grew 7.0% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$2.3BGross Profit (TTM)$2.7BNet Income (TTM)$1.4BEps Diluted (TTM)$10.84
Latest FilingQ1 2026
Report Date2026-04-28
Market Cap$15.5B
P/E Ratio14.54
ROE15.6%

Operating Expenses

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Depreciation and amortization$119.7M$123.7M$127.4M$126.2M$121.8M$132.5M
General and administrative$65M$57M$61.2M$55.8M$50.2M$69.5M
Impairment charges$7M$24M$166.1M$165.9M$54.4M$300K
Other Cost Of Operating Revenue$18.8M$15.4M$33.5M$38.7M$17.1M$16.7M
Total operating expenses$750.5M$512.7M$812.6M$699.1M$538.2M$484.4M

Net Income

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Income from discontinued operations$74.2M-$0.2$11.3$0.1$1.4B$0
Preferred stock dividends$3.3M$3.1M$3.2M$3.2M$3.5M$2.7M

Earnings Per Share

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Basic earnings per share—$-0.34$10.02$0.07$0.82$-0.07
Diluted earnings per share—$-0.34$10.02$0.07$0.82$-0.07
Continuing operations (in dollars per share)—-$0.2-$1.2-$0.1—-$0.1
Continuing operations (in dollars per share)—-$0.2-$1.2-$0.1—-$0.1
Weighted-average shares, basic—126.6M126.4M123.9M—122.6M
Weighted-average shares, diluted—129.8M126.4M124.1M—125.5M

Other Income & Expense

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Income from equity method investments$1.4M$3M$3.8M$4.3M$2.2M$6.1M
Gain (loss) on disposal of assets$22.8M-$1.1M-$1.3M-$1.3M$7.5M$200K
Interest expense$90.8M$82.1M$58.2M$41.5M$82.9M$38.4M
Other income (expense), net-$10.6M$5.7M$31.9M$19.1M$86.7M-$3.8M

Tax

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Income tax expense—$1.9M$6.1M$3.8M$0$1.7M

Other

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Home costs and selling$69.4M$52.6M$76.8M$71.1M$59.7M$56.2M
Other occupancy$127.7M$131.3M$157.9M$168.8M$128.4M$140.8M
Deferred taxes-$23.6M-$5.2M-$32.1M-$2.1M-$32.2M$6.4M
Gain (Loss), Foreign Currency Transaction, before Tax-$27.2M$8.7M$39.4M-$22.6M$34.4M-$24.5M
Gain on remeasurement of investment in nonconsolidated affiliates$5.3M$0-$1.5M$400K$0$200K
Gain / (loss) on remeasurement of notes receivable (see Note 4)-$35.9M-$200K-$1.4M$0-$300K$100K
Income (Loss) From Continuing Operations Before Other Items And Taxes-$236.9M-$42.5M-$189.1M-$1.9M-$60.7M$23.5M
Debt$90.8M$82.1M$58.2M$41.5M$82.9M$38.4M
Interest Income Operating$5.2M$4.4M$16.5M$17.3M$7.3M$7.4M
Lease Income$383.9M$384.4M$450.2M$517.7M$380.7M$417.2M
Catastrophic event-related charges, net$5.9M$5.9M$300K$300K$300K$300K
Catastrophic event-related charges, net—-$100K$400K$800K—$500K
Other income, net (Note 6)-$10.6M$5.7M$31.9M$19.1M$86.7M-$3.8M
Property taxes$25M$26.7M$28.7M$28.7M$24.2M$29.5M

Revenue

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Ancillary$18.4M$12.5M$42.1M$60.8M$17.8M$13.3M
Brokerage commissions and other, net$16.2M$1.7M$14.6M$5.8M$1.7M$1.9M
Home sales$89.9M$67.2M$100.1M$95.6M$70M$68.1M
Total interest income$5.2M$4.4M$16.5M$17.3M$7.3M$7.4M
Total revenue$513.6M$470.2M$623.5M$697.2M$477.5M$507.9M