Tanger Inc. (NYSE:SKT) Q2 2024 Earnings Call Transcript August 2, 2024 8:30 AM ET
Company Participants
Ashley Curtis - Assistant VP of IR
Stephen Yalof - President and CEO
Michael Bilerman - CFO and CIO
Conference Call Participants
Andrew Reale - Bank of America
Floris van Dijkum - Compass Point
Todd Thomas - KeyBanc Capital Markets
Craig Mailman - Citigroup
Greg McGinniss - Scotiabank
Samir Khanal - Evercore ISI
Caitlin Burrows - Goldman Sachs
Mike Mueller - JPMorgan
Operator
Good morning. I'm Ashley Curtis, Assistant Vice President of Investor Relations, and I would like to welcome you to Tanger Inc's Second Quarter 2024 Conference Call. Yesterday evening, we issued our earnings release as well as our supplemental information package and investor presentation. This information is available on our IR website, investors.tanger.com.
Please note this call may contain forward-looking statements that are subject to numerous risks and uncertainties, and actual results could differ materially from those projected. We direct you to our filings with the Securities and Exchange Commission for a detailed discussion of these risks and uncertainties. During the call, we will also discuss non-GAAP financial measures as defined by SEC Regulation G. Reconciliations of these non-GAAP measures to the most directly comparable GAAP financial measures are included in our earnings release and in our supplemental information. This call is being recorded for rebroadcast for a period of time in the future. As such, it is important to note that management's comments include time-sensitive information that may only be accurate as of today's date, August 2, 2024. At this time, all participants are in listen-only mode. Following management's prepared comments, the call will be open for your questions. We request that everyone ask only one question and one follow-up question, and if time permits, we are happy for you to reach you for additional questions.
On the call today will be Stephen Yalof, President and Chief Executive Officer; and Michael Bilerman, Chief Financial Officer and Chief Investment Officer. In addition, other members of our leadership team will be available for Q&A.
I will now turn the call over to Stephen Yalof. Please go ahead.
Stephen Yalof
I'm pleased to announce another quarter of strong performance and an increase in our full-year guidance. Our same center NOI grew by 8% from the prior year while FFO per share was up 13%. These results demonstrate the continued execution of our strategy and our focus on optimizing our value proposition for both retailers and shoppers. We are elevating the retail mix in our centers and creating a community experience to drive traffic and increase engagement.