SITE CENTERS CORP. (SITC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, SITE CENTERS CORP. (SITC) reported revenue of $136.83 million, up 4.4% over the same period last year. EPS came in at $0.30, compared to $0.05 in the year-ago quarter.
The reported revenue represents a surprise of +2.18% over the Zacks Consensus Estimate of $133.91 million. With the consensus EPS estimate being $0.28, the EPS surprise was +7.14%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how SITE CENTERS CORP. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Rental income: $135.87 million compared to the $133.38 million average estimate based on seven analysts. The reported number represents a change of +4.6% year over year.
Revenues- Rental income - Recoveries: $35.32 million compared to the $33.46 million average estimate based on six analysts. The reported number represents a change of +7.6% year over year.
Revenues- Rental income - Percentage and overage rent: $1.15 million versus the six-analyst average estimate of $1.13 million. The reported number represents a year-over-year change of +1.2%.
Revenues- Rental income - Minimum rents: $88.97 million versus $93.90 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.
Revenues- Rental income - Ancillary and other rental income: $1.76 million versus $1.72 million estimated by four analysts on average.
Revenues- Other property revenues: $0.96 million versus $2.32 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -18.2% change.
Revenues- Rental income - Lease termination fees: $0.11 million compared to the $0.50 million average estimate based on three analysts.
Net Earnings Per Share (Diluted): $0.06 versus the six-analyst average estimate of $0.05.
View all Key Company Metrics for SITE CENTERS CORP. here>>>
Shares of SITE CENTERS CORP. have returned +3.3% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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