SKT Earnings Prediction
The chart below shows how SKT performed 10 days before and after its earnings report, based on data from the past quarters. Typically, SKT sees a -1.60% change in stock price 10 days leading up to the earnings, and a +2.66% change 10 days following the report. On the earnings day itself, the stock moves by -0.20%. This data can give you a slight idea of what to expect for the next quarter's release.
SKT Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
133.00M
13.34%
3.14%
Gross Margin
43.14%
-8.31%
-2.79%
Operating Margin
29.45%
-4.72%
-1.14%
Net Margin
19.50%
-20.76%
-2.99%
EPS
0.22
-15.38%
0.00%
No Data Available
SKT Earnings Analysis
Tanger Inc. Corporation (SKT.N) Earnings Conference Call
Positive
Core FFO Increase: Core FFO for Q3 reached $0.54 per share, an 8% increase from the prior year, supported by a 4.3% increase in same-center NOI.
Tenant Sales Productivity Stability: Average tenant sales productivity remained steady at $438 per square foot for the trailing 12 months, indicating strong retailer performance.
Occupancy Rate Performance: Occupancy rate ended the quarter at 97.4%, with 543 leases executed totaling 2.6 million square feet over the trailing 12 months.
Positive Rent Spread Growth: Achieved 11 consecutive quarters of positive rent spreads, with a blended increase of 14% on comparable space, including re-tenanting spreads of 46% and renewal spreads of 12%.
Dividend Increase and Growth: Quarterly dividend declared was 5.8% higher than last year on an annualized basis, with a continued low payout ratio providing free cash flow to support growth.
Negative
Occupancy Rate Challenges: 1. Occupancy Decline: Despite a strong overall occupancy rate of 97.4%, specific centers like Hilton Head and Rehoboth Beach experienced noticeable occupancy declines due to tenant departures, indicating frictional vacancy during re-tenanting efforts.
Rising Operating Expenses: 2. Increased Operating Expenses: The company anticipates a larger operating expense load in the second half of the year, particularly in Q4, which could negatively impact profitability despite current revenue growth.
Construction Cost Challenges: 3. High Construction Costs: The ongoing high construction costs are limiting the viability of new development projects, forcing the company to focus on acquisitions rather than greenfield developments, which may hinder growth opportunities.
Hurricane Operational Disruption: 4. Hurricane Impact: Although the company reported minor physical impacts from Hurricanes Helene and Milton, the temporary closure of the Asheville Center could have disrupted operations and affected revenue during that period.
Debt Management Challenges: 5. Leverage Concerns: While the company reported a net debt to adjusted EBITDA ratio of 5 times, they aim to maintain a target range of 5 to 6 times, indicating potential concerns about financial flexibility and risk as they pursue growth.
SKT FAQs
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SKT Earning Call Sentiment
Tanger Inc. (SKT) Q3 2024 Earnings Call Transcript
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SKT.N
-0.85%Positive
The earnings call summary indicates strong financial performance with an 8% increase in Core FFO and a 5.8% dividend increase, signaling confidence in future earnings. Despite some risks, optimistic guidance and strategic tenant partnerships, particularly with aspirational brands like Sephora, suggest positive future growth. The Q&A section reflects management's confidence in navigating economic challenges and their strategic focus on acquisitions. Although competitive pressures and economic factors pose risks, the company's proactive measures and strong financial health suggest a positive stock price movement over the next two weeks.