Tanger Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 15, 2024 at 04:07 pm EST
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Tanger Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 119.88 million compared to USD 109.83 million a year ago. Revenue was USD 127.48 million compared to USD 116.46 million a year ago. Net income was USD 23.78 million compared to USD 18.36 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to USD 0.17 a year ago. Diluted earnings per share from continuing operations was USD 0.22 compared to USD 0.17 a year ago.
For the full year, sales was USD 438.89 million compared to USD 421.42 million a year ago. Revenue was USD 464.41 million compared to USD 442.61 million a year ago. Net income was USD 99.15 million compared to USD 82.06 million a year ago. Basic earnings per share from continuing operations was USD 0.94 compared to USD 0.78 a year ago. Diluted earnings per share from continuing operations was USD 0.92 compared to USD 0.77 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. 
