Tanger Factory Outlet Centers (SKT) Reports Q2 EPS of $0.02

Tanger Factory Outlet Centers (NYSE: SKT) reported Q2 EPS of $0.02, versus ($0.06) reported last year. Revenue for the quarter came in at $0 versus the consensus estimate of $95.62 million.

• Net income available to common shareholders was $0.02 per share, or $2.3 million, compared to net loss available to common shareholders of $0.25 per share, or $22.9 million, for the prior year period. The current year includes a loss on the early extinguishment of debt of $14.0 million, or $0.13 per share. The prior year period was heavily impacted by the COVID-19 pandemic and also included a $3.1 million, or $0.03 per share, non-cash charge related to the Company\'s share of a non-cash impairment of an asset in its Canadian unconsolidated joint venture.
• Funds From Operations ("FFO") available to common shareholders was $0.30 per share, or $32.4 million, compared to $0.10 per share, or $10.0 million, for the prior year period.
• Core Funds From Operations ("Core FFO") available to common shareholders was $0.43 per share, or $46.3 million, compared to $0.10 per share, or $10.0 million, for the prior year period. Core FFO for the second quarter of 2021 excludes the loss on the early extinguishment of debt discussed above, which the Company does not consider indicative of its ongoing operating performance.

For earnings history and earnings-related data on Tanger Factory Outlet Centers (SKT) click here.

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