Tanger Factory Outlet Centers (SKT) Misses Q4 EPS by 3c

Tanger Factory Outlet Centers (NYSE: SKT) reported Q4 EPS of $0.12, $0.03 worse than the analyst estimate of $0.15.

• Funds From Operations (\"FFO\") available to common shareholders was $0.45 per share, or $49.7 million, compared to $0.54 per share, or $52.7 million, for the 2020 period.
• Core Funds From Operations ("Core FFO") available to common shareholders was $0.45 per share, or $49.6 million, compared to $0.54 per share, or $52.3 million, for the 2020 period. Core FFO in the fourth quarter of 2021 excludes a casualty gain associated with insurance proceeds of $1.0 million, or $0.01 per share, which was offset by general and administrative expense of $0.9 million, or $0.01 per share, related to certain executive severance costs. Core FFO for the fourth quarter of 2020 excludes general and administrative expense of $0.6 million, or $0.01 per share, for compensation costs related to a voluntary retirement plan and a gain of $1.0 million, or $0.01 per share, on the sale of an outparcel at an asset in the Canadian joint venture. The Company does not consider these items 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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