Tanger Factory Outlet Centers (NYS: SKT) reported earnings on Feb. 14. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Tanger Factory Outlet Centers beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share expanded significantly.
Margins dropped across the board.
Tanger Factory Outlet Centers recorded revenue of $83.2 million. The nine analysts polled by S&P Capital IQ predicted revenue of $69.4 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $75.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.15. The four earnings estimates compiled by S&P Capital IQ forecast $0.16 per share. GAAP EPS of $0.15 for Q3 were 25% higher than the prior-year quarter's $0.12 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 69.3%, 2,260 basis points worse than the prior-year quarter. Operating margin was 31.7%, 390 basis points worse than the prior-year quarter. Net margin was 15.0%, 310 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $89.3 million. On the bottom line, the average EPS estimate is $0.17.
Next year's average estimate for revenue is $311.5 million. The average EPS estimate is $0.57.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 54 members out of 110 rating the stock outperform, and 56 members rating it underperform. Among 38 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 16 give Tanger Factory Outlet Centers a green thumbs-up, and 22 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Tanger Factory Outlet Centers is hold, with an average price target of $28.82.
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At the time thisarticle was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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