Taubman Centers Inc. (TCO) reported a third-quarter net lossattributable to shareowners of $94.073 million compared to profit of $9.197 million last year. Loss per share was $1.77 compared to earnings of $0.17 per share last year.
The company reported negative funds from operations attributable to the company of $67.019 million or $1.26 per share. This is compared to funds from operations of $39.764 million or $0.74 per share last year.
Adjusted funds from operations attributable to the company increased to $40.402 million from $39.764 million a year ago. Adjusted funds from operations per share was $0.74, flat with prior year.
On average, 7 analysts polled by Thomson Reuters expected the company to report a loss of $1.41 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues from consolidated businesses were $163.200 million compared to $163.713 million last year. Total revenues from unconsolidated joint ventures were $67.286 million compared to $67.054 million prior year.
Analysts expected revenue of $82.28 million for the quarer. The company previously announced fiscal 2009 adjusted FFO guidance in the range of $2.73 to $2.93 per share, excluding the restructuring charge incurred in the first half of the year. Excluding the impact of the impairment and restructuring charges, the company is narrowing the range for adjusted FFO per share guidance to $2.88-$2.93, the top of the previously announced range. FFO per share is expected to be $0.87-$0.92.
The company also narrowed its guidance for 2009 loss per share to $1.13-$1.03. The company expects fiscal 2009 earnings per share attributable to shareowners, before impairment and restructuring charges, to be in the range of $0.91-$1.01.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.