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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.