Taubman Centers (TCO) Tops Q3 EPS by 13c; Boosts FY18 EPS Guidance Above Consensus

Taubman Centers (NYSE: TCO) reported Q3 EPS of $0.34, $0.13 better than the analyst estimate of $0.21. Revenue for the quarter came in at $159.12 million versus the consensus estimate of $159.02 million.

“Our guidance range suggests that Adjusted FFO per share will be between $0.84 and $0.92 in the fourth quarter, compared to $1.03 in the fourth quarter of 2017,” said Mr. Leopold. “The primary drivers are expected to be higher interest expense, lower lease cancellation income, and one-time promotional expenses related to Beverly Center’s Grand Reveal. The combined impact of these items is expected to be $0.15 to $0.17 per share.”

GUIDANCE:

Taubman Centers sees FY2018 EPS of $1.17-$1.27, versus the consensus of $1.14.

For earnings history and earnings-related data on Taubman Centers (TCO) click here.

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