Tanger Inc. (SKT) Earnings Call Transcripts

Tanger Inc.'s Latest Earnings Call - June 2, 2026

In the second quarter of fiscal year 2026, Tanger Inc. reported strong operational performance, driven by a resilient retail environment and strategic acquisitions. Revenue and earnings figures were not disclosed, but management emphasized a robust growth trajectory supported by a low debt-to-EBITDA ratio of 4.7x, the lowest in the company's history. Guidance for same-center NOI growth was reiterated, with expectations of improvement despite some headwinds from tenant bankruptcies, particularly Saks OFF 5TH. The company announced a $60 million acquisition with an attractive 8.5% yield, signaling confidence in future growth prospects.

Reported metrics

Guidance from management

Management maintained its guidance for same-center NOI growth at 6.3%, indicating confidence in future performance despite some challenges. They expect considerable improvement in the second half of the year.

What management said

Sure. From an NOI and occupancy standpoint, we typically peak in the fourth quarter, trough in the first quarter, build back up throughout the year. There could be a little bit slower ramp throughout the summer this year as we work through some of those backfills on the larger boxes. But we look at the NOI coming out the back end as a considerable improvement versus where we were previously with those stores.

Basically, backfilling in the short term with temp tenants can replace the existing rent that we were getting. And we've talked about oftentimes with temp, we can go 2x to 4x the rent that they're paying when we put a permanent in there. I wouldn't expect this situation to be much different from that.

What analysts pressed on

Analysts expressed concerns regarding the impact of recent tenant bankruptcies on occupancy and leasing spreads. There were questions about the timeline for backfilling space left by Saks OFF 5TH and how it would affect overall NOI growth.

Main topics on the call

• Resilient Retail Environment — Management noted that the retail business is 'extraordinarily resilient, especially in 2026,' with domestic tourism driving customer visits to shopping centers. This trend is expected to continue, bolstering sales and le...
• Strategic Acquisitions — Tanger announced a $60 million acquisition at an 8.5% going-in yield, highlighting a focus on external growth. CEO Stephen Yalof stated, 'We feel that our ability to come in and continue to elevate that merchandising mix...
• Tenant Health and Leasing Demand — Management reported a decrease in the watchlist for tenants, indicating improved tenant health. Yalof mentioned, 'We're having far less trouble re-leasing that space' despite recent closures, suggesting strong leasing de...
• Same-Center NOI Guidance — The company reiterated guidance for same-center NOI growth, expecting 'considerable improvement' in the second half of the year. CFO Michael Bilerman noted that despite some headwinds, the overall outlook remains positiv...

Read the full Tanger Inc. transcript (June 2, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 61 Tanger Inc. earnings call transcripts on record, spanning January 27, 2020 to August 5, 2026. Based on this history, Tanger Inc. reports quarterly. The most recent call on file is dated August 5, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SKT

Exchange

NYSE

Country

US

Sector

Real Estate

Industry

Retail REITs

Calls on record

61

First call

January 27, 2020

Most recent

August 5, 2026

Reporting cadence

quarterly