Tanger Factory Outlet Centers (SKT) Reports In-Line Q2 EPS, Revenues Beat

Tanger Factory Outlet Centers (NYSE: SKT) reported Q2 EPS of $0.24, in-line with the analyst estimate of $0.24. Revenue for the quarter came in at $119.71 million versus the consensus estimate of $116.76 million.

"During the second quarter we delivered results as expected and are maintaining our outlook for the year," said Steven B. Tanger, Chief Executive Officer. "Consumers continue to seek the brands and value that we provide at our centers, as seen in the year over year sales increase. Additionally, customers are reacting positively to our enhanced efforts to bring experience and fun to shopping with events such as food truck festivals and family fun nights. We continue to work hard to maintain our high occupancy, extend shorter term leases with quality long-term tenants, and pursue new prospects for our centers. As we look ahead, we maintain an unwavering focus on creating shareholder value by procuring the right tenant mix for our consumers, and providing retailers with a quality yet cost effective distribution channel."

GUIDANCE:

Tanger Factory Outlet Centers sees FY2018 EPS of $0.95-$1.01.

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

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