Site Centers (SITC) Q2 Revenue Drops 64%

Site Centers (NYSE:SITC), a major U.S. operator of open-air shopping centers, released its earnings for the second quarter on August 5, 2025. The most notable headline is that Non-GAAP (Operating FFO) per share was $0.16 in Q2 2025 -- a figure that beat the consensus estimate of $(0.16) non-GAAP EPS. This marks a sharp outperformance versus expectations, as non-GAAP EPS of $0.16 exceeded the analyst estimate of -$0.16, but reflects a much smaller business following the spin-off of Curbline Properties and multiple property sales. Revenue was $31.1 million, above the $26.2 million estimate. Revenue dropped substantially from $85.97 million in Q2 2024. Overall, the period was characterized by large asset dispositions, bolstered cash on hand, and significant returns to shareholders, but with sharply lower recurring operating figures year over year, as reflected in a decrease in operating funds from operations (Operating FFO) from $55.9 million ($1.06 per diluted share) in Q2 2024 to $8.3 million ($0.16 per diluted share) in Q2 2025. Source: Analyst estimates for the quarter provided by FactSet. Site Centers is a real estate investment trust (REIT) that owns and manages open-air shopping centers across the United States. Its properties are primarily located in affluent suburban areas, and its tenant list features large national retailers such as TJX Companies, Kroger, and Dick’s Sporting Goods. The business generates most of its revenue by leasing retail space to tenants.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool