Filing Flows › Tanger (SKT) › Q3 2025
Tanger (SKT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Tanger (SKT) reported revenue of $145M for the third quarter 2025 (Q3 2025), +9% from a year earlier and +3% from the quarter before. Operating margin was 20.1%, net earnings $32.0M (22.1% of revenue).
Tanger, Q3 2025: revenue $145M (+9% year over year), operating margin 20.1%, net earnings $32.0M, operating cash flow $74.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $145M | +3% | +9% |
| Operating profit | $29.1M | +3% | +23% |
| Net earnings | $32.0M | +6% | +29% |
| Operating cash flow | $74.3M | -9% | +14% |
| Free cash flow | $53.1M | -18% | +30% |
What changed
Revenue was $145.2M in Q3 2025, up 9% year over year and up 3% from the previous quarter.
Operating profit was $29.1M, a 20.1% margin (up 2.3 points year over year). Of the extra revenue versus a year earlier, 45% reached operating profit, above the 18% margin then. Total costs grew 6% against revenue growth of 9%. Net earnings were $32.0M, up 29% year over year. The effective tax rate was -14.5%.
Operating cash flow was $74.3M (up 14% year over year), 223% of net income including minority interests. Non-cash charges added back $37.1M of depreciation and amortization and $3.3M of share-based compensation. Capital expenditures of $21.2M left free cash flow of $53.1M.
Questions
What was Tanger's revenue in the third quarter 2025?
Tanger (SKT) reported revenue of $145M for the third quarter 2025 (Q3 2025), +9% from a year earlier and +3% from the quarter before.
Was Tanger profitable in the third quarter 2025?
Operating profit was $29.1M (20.1% of revenue) and net earnings $32.0M.
Source: Tanger 10-Q on SEC EDGAR.