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Earnings analysis · 10-Q

SKT earnings analysis

Filed May 4, 2026 · Our reading of the company's report

The latest report

Tanger Inc. reported strong Q1 2026 results, with revenue of $150.4 million and diluted EPS of $0.59, both exceeding consensus expectations. The company demonstrated a significant year-over-year increase in net income…

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Tanger Inc. reported strong Q1 2026 results, with revenue of $150.4 million and diluted EPS of $0.59, both exceeding consensus expectations. The company demonstrated a significant year-over-year increase in net income and rental revenue, influenced by improved leasing strategies and higher tenant sales, despite ongoing macroeconomic challenges.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $-1 Operating expenses $71 Left as operating profit $30

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$0.59

What stood out

  • Revenue Growth of 11% YoY

    Revenue reached $150.4 million in Q1 2026, a 11% increase from $135 million in Q1 2025.

  • EPS Exceeds Expectations

    Diluted earnings per share increased to $0.59, surpassing the consensus estimate of $0.57.

  • New Leasing Records

    Strong leasing led to a year-over-year increase in rental income, rising by $14.3 million to $143.5 million.

  • Higher Net Income of $29.4 Million

    Net income rose from $20 million in Q1 2025 to $29.4 million in the current quarter.

  • Improved Cash Flow Position

    Operating cash flow increased to $36.07 million in Q1 2026, despite a decrease from $41.58 million in the prior year.

  • Active Share Repurchase Program

    589,622 shares repurchased in Q1 2026, utilizing part of the $250 million from the recent Exchangeable Notes.

What to watch

  • Interest Rate Exposure

    Interest expense grew to $19.2 million, up from $15.8 million in Q1 2025, amid rising rates affecting financing costs.

  • Dependence on Retail Tenant Performance

    A portion of income depends on tenant sales; declines could reduce rental income.

  • Macroeconomic Environment Challenges

    Ongoing inflation and supply chain issues present risks to tenant profitability and operational performance.

Management's outlook

Management raised the 2026 guidance for EPS to a range of $1.05 to $1.13 based on the positive performance in Q1.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.