Tanger Factory Outlet Centers, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 04:07 pm EST
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Tanger Factory Outlet Centers, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 110.84 million compared to USD 105.57 million a year ago. Revenue was USD 117.35 million compared to USD 111.45 million a year ago. Net income was USD 27.62 million compared to USD 23.28 million a year ago. Basic earnings per share from continuing operations was USD 0.26 compared to USD 0.22 a year ago. Diluted earnings per share from continuing operations was USD 0.26 compared to USD 0.22 a year ago.
For the nine months, sales was USD 319.01 million compared to USD 311.59 million a year ago. Revenue was USD 336.93 million compared to USD 326.15 million a year ago. Net income was USD 75.37 million compared to USD 63.7 million a year ago. Basic earnings per share from continuing operations was USD 0.71 compared to USD 0.61 a year ago. Diluted earnings per share from continuing operations was USD 0.7 compared to USD 0.6 a year ago.
Tanger Inc. is an owner and operator of outlet and open-air centers in the United States and Canada. The Company is a fully integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet and open-air shopping centers. Its outlet centers and other assets are held by, and all its operations are conducted by Tanger Properties Limited Partnership and subsidiaries (Operating Partnership). The Company operates 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 United States and Canada. It offers over 3,000 stores operated by more than 700 different brand name companies. Its consolidated outlet centers include Deer Park, New York, Riverhead, New York, Foley, Alabama, Bridge Street Town Centre, and others.
TANGER INC. 
