Compared to Estimates, SITE Centers Corp. (SITC) Q3 Earnings: A Look at Key Metrics

Core Insights - SITE Centers Corp. reported a revenue of $89.43 million for the quarter ended September 2024, reflecting a 37.5% decrease year-over-year and a surprise of -12.17% compared to the Zacks Consensus Estimate of $101.82 million [1] - The company's EPS for the quarter was $0.81, down from $0.88 in the same quarter last year, with an EPS surprise of -6.90% against the consensus estimate of $0.87 [1] Revenue Breakdown - Rental income was reported at $89.02 million, significantly lower than the three-analyst average estimate of $99.75 million, marking a year-over-year decline of 37.5% [3] - Lease termination fees amounted to $0.58 million, exceeding the average estimate of $0.20 million by two analysts, representing a substantial increase of 165.1% compared to the previous year [3] - Ancillary and other rental income was reported at $0.92 million, below the average estimate of $1.09 million, indicating a year-over-year decrease of 39.3% [3] - Percentage and overage rent revenue was $1.06 million, slightly above the average estimate of $1.03 million [3] - Recoveries totaled $22.13 million, falling short of the average estimate of $25.58 million [3] Stock Performance - Over the past month, SITE Centers Corp. shares have returned +0.3%, underperforming the Zacks S&P 500 composite's +1.8% change [4] - The stock currently holds a Zacks Rank 5 (Strong Sell), suggesting potential underperformance relative to the broader market in the near term [4]