earnings
confidence high
sentiment positive
materiality 0.75
Tanger Q2 Core FFO $0.43 vs $0.10; raises FY guidance; traffic above 2019
TANGER INC.
2022-Q2 EPS reported
$0.06
revenue$201,967,000
- Net income $0.02/share ($2.3M) vs net loss ($0.25) in prior year; Core FFO $0.43/share ($46.3M) vs $0.10.
- Traffic to domestic centers exceeded Q2 2019; consolidated TTM tenant sales $424/sq ft, up >7% from 2019.
- Portfolio occupancy 93.0% at June 30, 2021, up from 91.7% at March 31, 2021.
- Raised FY 2021 Core FFO guidance to $1.68–$1.72/share from prior $1.46–$1.54.
- Q2 GAAP results included $14.0M loss on early debt extinguishment ($0.13/share).