SITE Centers Corp. (NYSE:SITC) Q3 2022 Earnings Conference Call October 25, 2022 8:30 AM ET

Company Participants

Monica Kukreja - Head, IR

David Lukes - CEO

Conor Fennerty - CFO

Conference Call Participants

Craig Mailman - Citi

Nick Joseph - Citi

Samir Khanal - Evercore

Todd Thomas - KeyBanc Capital Markets

Alexander Goldfarb - Piper Sandler

Ronald Kamdem - Morgan Stanley

Mike Mueller - JPMorgan

Floris Van Dijkum - Compass Point

Linda Tsai - Jefferies

Operator

Good day and welcome to the SITE Centers reports Third Quarter 2022 Operating Results. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.

I would now like to turn the conference over to Monica Kukreja, Head of Investor Relations. Please go ahead.

Monica Kukreja

Thank you, Operator. Good morning, and welcome to SITE Centers third quarter 2022 earnings conference call. Joining me today is Chief Executive Officer, David Lukes; and Chief Financial Officer, Conor Fennerty.

In addition to the press release distributed this morning, we have posted our quarterly financial supplement and slide presentation on our website at www.sitecenters.com, which is intended to support our prepared remarks during today's call.

Please be aware that certain of our statements today may contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially from our forward-looking statements. Additional information may be found in our earnings press release and in our filings with the SEC, including our most recent reports on Form 10-K and 10-Q.

In addition, we will be discussing non-GAAP financial measures on today's call including FFO, operating FFO, and same-store net operating income. Reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures can be found in today's quarterly financial supplement.

At this time, it is my pleasure to introduce our Chief Executive Officer, David Lukes.

David Lukes

Thank you, Monica. Good morning and thank you for joining our third quarter earnings call.

We had another very productive quarter with results ahead of budget, significant leasing volume despite having less available space, a number of asset sales with proceeds used to continue to invest in our convenience thesis, and a balance sheet that remains in great shape with debt-to-EBITDA in the low fives, which remains well ahead of the peer group and the sector overall.