Compared to Estimates, SITE Centers Corp. (SITC) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2024, SITE CENTERS CORP. (SITC) reported revenue of $89.43 million, down 37.5% over the same period last year. EPS came in at $0.81, compared to $0.88 in the year-ago quarter.
The reported revenue represents a surprise of -12.17% over the Zacks Consensus Estimate of $101.82 million. With the consensus EPS estimate being $0.87, the EPS surprise was -6.90%.
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:
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Revenues- Rental income: $89.02 million versus the three-analyst average estimate of $99.75 million. The reported number represents a year-over-year change of -37.5%.
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Revenues- Rental income- Lease termination fees: $0.58 million versus $0.20 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +165.1% change.
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Revenues- Rental income- Ancillary and other rental income: $0.92 million compared to the $1.09 million average estimate based on two analysts. The reported number represents a change of -39.3% year over year.
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Revenues- Rental income- Percentage and overage rent: $1.06 million versus $1.03 million estimated by two analysts on average.
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Revenues- Rental income- Recoveries: $22.13 million compared to the $25.58 million average estimate based on two analysts.
View all Key Company Metrics for SITE Centers Corp. here>>>
Shares of SITE Centers Corp. have returned +0.3% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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