SITE Centers Corp. (SITC) Reports Q4 EPS of $0.93, Revenues Miss

SITE Centers Corp. (NYSE: SITC) reported Q4 EPS of $0.93, versus $0.01 reported last year. Revenue for the quarter came in at $121.49 million versus the consensus estimate of $126.38 million.

“We successfully repositioned our portfolio, bolstered our balance sheet and began pivoting to growth in 2018,” commented David R. Lukes, president and chief executive officer. “Additionally, we made progress on all three sources of growth in our long-term business plan, including 2.3% same store NOI growth in 2018, redevelopment completions, and $85 million of opportunistic investing, all supported by the $607 million DTP joint venture that brought debt to EBITDA to 5.6x at year-end.”

GUIDANCE:

SITE Centers Corp. sees FY2019 EPS of $0.24-$0.29, versus the consensus of $0.06.

For earnings history and earnings-related data on SITE Centers Corp. (SITC) click here.

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