Equity LifeStyle Properties, Inc. (ELS) Q3 2022 - Earnings Call Transcript

For the period ending September 30, 2022

October 18, 2022 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, everyone, and thank you for joining us to discuss Equity LifeStyle Properties' Third Quarter 2022 Results. Our featured speakers today are Marguerite Nader, our President and CEO; Paul Seavey, our Executive Vice President and CFO; and Patrick Waite, our Executive Vice President and COO.

In advance of today's call, management released earnings. Today's call will consist of opening remarks and a question-and-answer session with management relating to the company's earnings release. [Operator Instructions] As a reminder, this call is being recorded.

Certain matters discussed during this conference call may contain forward-looking statements in the meanings of the federal securities laws. Our forward-looking statements are subject to certain economic risks and uncertainties. The company assumes no obligation to update or supplement any statements that become untrue because of subsequent events. In addition, during today's call, we will discuss non-GAAP financial measures as defined by the SEC regulations. Reconciliations of these non-GAAP financial measures to the comparable GAAP financial measures are included in our earnings release, our supplement information and our historical SEC filings.

At this time, I'd like to turn the call over to Marguerite Nader, our President and CEO.

Marguerite Nader

Good morning and thank you for joining us today. Yesterday afternoon, we issued our supplemental and provided additional information about the impact of Hurricane Ian, which made landfall in Florida 20 days ago. Our team members, some of whom suffered personal losses from the storm have worked tirelessly to restore our properties and assist our residents and guests. The results of the clean-up and restoration efforts over the last 20 days are nothing less than extraordinary. We have prioritized the safety of employees, residents and guests as we began the clean-up efforts, in some cases hampered by a lack of utility service. The strength of our infrastructure and the homes in our communities’ in particular newer homes was evident in Florida after the storm.

Over the years we have developed a detailed hurricane preparation plan, which includes significant advanced planning. As soon as the storm passes, our property clean-up and restoration efforts commenced. We have a coordinated program including having vendors on call to arrive at communities as soon as the storm passes to mitigate additional damage and return to normal operation as quickly as possible.