Revenue: As of FY2026 Q2, the actual value is USD 6.952 M.

EPS: As of FY2026 Q2, the actual value is USD -0.03, beating the estimate of USD -0.11.

EBIT: As of FY2026 Q2, the actual value is USD -8.541 M.

Second Quarter 2026 Financial Results

Net Income (Loss)

SITE Centers Corp. reported a net loss of - $1.3 million, or - $0.03 per diluted share, for the second quarter of 2026, a decrease from a net income of $46.5 million, or $0.88 per diluted share, in the year-ago period. For the six months ended June 30, 2026, the net loss was - $0.4 million, compared to a net income of $49.6 million for the six months ended June 30, 2025.

Operating Funds From Operations (OFFO)

Operating FFO for the second quarter of 2026 was a loss of - $4.6 million, or - $0.09 per diluted share, down from an income of $8.3 million, or $0.16 per diluted share, in the prior year. For the six months ended June 30, 2026, Operating FFO was a loss of - $6.5 million, compared to an income of $16.6 million for the six months ended June 30, 2025.

Net Operating Income (NOI)

Consolidated Net Operating Income (NOI) for the second quarter of 2026 was $2.0 million, a reduction from $20.0 million in the second quarter of 2025. For the six months ended June 30, 2026, consolidated NOI was $6.4 million, down from $48.5 million in the comparable period of 2025.

Revenue

• Rental Income: Total rental income for the second quarter of 2026 was $6.8 million, down from $30.7 million in the second quarter of 2025. For the six months ended June 30, 2026, rental income was $16.1 million, compared to $62.1 million in the same period of 2025.
• Other Property Revenues: Other property revenues were $0.1 million in Q2 2026, a decrease from $0.4 million in Q2 2025. For the six months, these revenues were $0.2 million in 2026, down from $9.3 million in 2025.

Operational Costs

• Operating and Maintenance: Operating and maintenance expenses were $3.8 million in Q2 2026, down from $6.5 million in Q2 2025. For the six months, expenses were $7.1 million in 2026, compared to $13.6 million in 2025.
• Real Estate Taxes: Real estate taxes decreased to $1.2 million in Q2 2026 from $4.7 million in Q2 2025. For the six months, taxes were $2.8 million in 2026, down from $9.4 million in 2025.
• General and Administrative: General and administrative expenses were - $9.2 million in Q2 2026, a slight decrease from - $9.4 million in Q2 2025. For the six months, these expenses were - $18.1 million in 2026, compared to - $18.8 million in 2025.
• Environmental Litigation and Tenant Litigation Legal Expense: This expense was $1.0 million in Q2 2026, up from $0.4 million in Q2 2025. Annually, it was $1.1 million for the six months ended June 30, 2026, compared to $0.6 million for the same period in 2025.

Other Income and Expenses

• JV and Other Fee Income: This income increased to $3.7 million in Q2 2026 from $2.4 million in Q2 2025. For the six months, it rose to $7.4 million in 2026 from $4.6 million in 2025.
• Interest Expense: Interest expense was $0 in Q2 2026, a decrease from - $5.3 million in Q2 2025. For the six months, interest expense was $0 in 2026, compared to - $10.8 million in 2025.
• Depreciation and Amortization: Depreciation and amortization decreased to - $3.9 million in Q2 2026 from - $12.9 million in Q2 2025. For the six months, it was - $8.9 million in 2026, compared to - $26.2 million in 2025.
• Impairment Charges: Impairment charges were - $1.0 million in Q2 2026, up from $0 in Q2 2025. For the six months, these charges were - $18.5 million in 2026, compared to $0 in 2025.
• Gain on Disposition of Real Estate, Net: This gain decreased significantly to $7.8 million in Q2 2026 from $53.2 million in Q2 2025. For the six months, it was $11.8 million in 2026, compared to $54.3 million in 2025.

Cash Position

SITE Centers Corp. held $238.9 million in unrestricted cash as of June 30, 2026. The total cash, including restricted cash and the joint venture’s share, was $245.6 million at June 30, 2026, up from $133.2 million at December 31, 2025.

Operational Metrics

• Leased Rate: The leased rate was 82.5% at June 30, 2026, a decrease from 87.8% at December 31, 2025, and 88.1% at June 30, 2025, on a pro rata basis.
• Leasing Activity (New Leases and Renewals): During Q2 2026, the company executed two new leases and 14 renewals, totaling 64,702 square feet.

Unique Metrics and Activities

• Property Dispositions: Year to date, SITE Centers Corp. sold five properties, a land parcel, and a joint venture interest for aggregate gross sales prices of approximately $167.8 million. In Q2 2026, Meadowmont Crossings and the Pike Outlets were sold for aggregate gross sales prices of $61.1 million, yielding net proceeds of approximately $56.5 million.
• Special Dividend: A $1.00 per share special dividend was declared and paid on July 31, 2026.
• DTP Joint Venture: The company delivered a buy-sell notice to its partner in the DTP joint venture on June 29, 2026, requiring a decision by August 31, 2026, to either purchase SITE Centers Corp.’s 20% interest for approximately $32.4 million or sell its 80% interest for approximately $129.6 million.

Outlook / Guidance

SITE Centers Corp. remains focused on maximizing the value of its remaining assets through additional asset sales and the resolution of its investment in the DTP joint venture. The company expects to maintain a higher cash balance pending the DTP joint venture resolution to maximize options for monetizing its remaining joint venture investment. Closings for the sale of Shoppes at Paradise Point and The Maxwell are expected by the end of the third quarter of 2026.