Tanger (SKT) Beats Q2 FFO and Revenue Estimates

Core Insights - Tanger (SKT) reported quarterly funds from operations (FFO) of $0.58 per share, exceeding the Zacks Consensus Estimate of $0.56 per share, and up from $0.53 per share a year ago, indicating a positive performance trend [1][2] - The company achieved revenues of $133.44 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.18% and showing an increase from $122.32 million year-over-year [2] - Tanger has outperformed consensus FFO estimates three times in the last four quarters and has topped revenue estimates four times in the same period [2] Financial Performance - The FFO surprise for the recent quarter was +3.57%, while the previous quarter's FFO matched expectations with no surprise [1] - The current consensus FFO estimate for the upcoming quarter is $0.58 on revenues of $135.74 million, and for the current fiscal year, it is $2.24 on revenues of $536.94 million [7] Market Position - Tanger shares have underperformed the market, losing approximately 13.5% since the beginning of the year, compared to a 6.1% gain in the S&P 500 [3] - The Zacks Industry Rank places the REIT and Equity Trust - Retail sector in the top 32% of over 250 Zacks industries, suggesting a favorable industry outlook [8] Future Outlook - The sustainability of the stock's price movement will largely depend on management's commentary during the earnings call and the trends in estimate revisions [3][4] - The estimate revisions trend for Tanger was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6]