Taubman Centers Inc. (NYSE:TCO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Taubman Centers Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20% to $0.90 in the quarter versus EPS of $0.75 in the year-earlier quarter.
Revenue: Rose 8.27% to $183.25 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Taubman Centers Inc. reported adjusted EPS income of $0.90 per share. By that measure, the company beat the mean analyst estimate of $0.85. It beat the average revenue estimate of $179.46 million.
Quoting Management: “We’re pleased to kick off 2013 with this strong performance,” said Robert S. Taubman, chairman, president and chief executive officer of Taubman Centers. “Our results were propelled by increased rents and recoveries. We also received significant contributions from our newest center, City Creek Center (Salt Lake City, Utah), and our recent acquisitions of additional interests in International Plaza (Tampa, Fla.) and Waterside Shops (Naples, Fla.).”
Key Stats (on next page)…