Tanger Reports First Quarter Results & Provides COVID-19 Update

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Go back to Tanger Reports First Quarter Results & Provides COVID-19 Update

Tanger Factory Outlet Centers (SKT) Misses Q1 EPS by 48c, Revenues Miss

May 11, 2020 4:31 PM EDT

Tanger Factory Outlet Centers (NYSE: SKT) reported Q1 EPS of ($0.30), $0.48 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $111.63 million versus the consensus estimate of $112.08 million.

First Quarter Results

Net loss available to common shareholders was $0.30 per share, or $27.4 million, compared to net income available to common shareholders of $0.66 per share, or $61.7 million, for the prior year period. The current year period was impacted by a non-cash impairment charge totaling $45.7 million, or $0.47 per share, related to the Company's outlet center in Manshantucket, CT (Foxwoods).... More