SITE CENTERS CORP. (SITC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, SITE CENTERS CORP. (SITC) reported revenue of $136.38 million, down 0.5% over the same period last year. EPS came in at $0.29, compared to $0.27 in the year-ago quarter.
The reported revenue represents a surprise of +0.80% over the Zacks Consensus Estimate of $135.3 million. With the consensus EPS estimate being $0.28, the EPS surprise was +3.57%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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- Minimum rents: $89.02 million versus the six-analyst average estimate of $93.85 million. The reported number represents a year-over-year change of +1.2%.
Revenues- Rental income- Recoveries: $34.50 million compared to the $34.32 million average estimate based on six analysts. The reported number represents a change of +2.2% year over year.
Revenues- Rental income- Percentage and overage rent: $2.25 million versus the six-analyst average estimate of $1.39 million. The reported number represents a year-over-year change of +36.7%.
Revenues- Rental income: $135.95 million versus the six-analyst average estimate of $133.61 million. The reported number represents a year-over-year change of -0.2%.
Revenues- Rental income- Ancillary and other rental income: $1.45 million versus the four-analyst average estimate of $1.63 million.
Revenues- Other property revenues: $0.43 million versus the three-analyst average estimate of $2.58 million. The reported number represents a year-over-year change of -53.5%.
Revenues- Rental income- Lease termination fees: $0.26 million versus the three-analyst average estimate of $0.46 million.
Revenues- Rental income- Ground lease minimum rents: $6.34 million versus $6.53 million estimated by two analysts on average.
Net Earnings Per Share (Diluted): $0.01 versus $0.04 estimated by five analysts on average.
Revenues- Fee income: $1.78 million versus the three-analyst average estimate of $1.72 million.
View all Key Company Metrics for SITE CENTERS CORP. here>>>
Shares of SITE CENTERS CORP. have returned +15.9% over the past month versus the Zacks S&P 500 composite's +4.9% 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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SITE CENTERS CORP. (SITC) : Free Stock Analysis Report
