More N.C. public companies are reporting earnings, including Durham-based Precision Biosciences. Here are the latest.
- Precision Bio
DURHAM — Precision BioSciences Inc. (DTIL) on Friday reported a loss of $11.9 million in its second quarter.
On a per-share basis, the Durham, North Carolina-based company said it had a loss of 10 cents.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The genome editing company posted revenue of $19.8 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $6.6 million.
GREENSBORO — Tanger Factory Outlet Centers Inc. (SKT) on Thursday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Greensboro, North Carolina, said it had funds from operations of $52.4 million, or 47 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 45 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $23.9 million, or 23 cents per share.
The factory outlet mall operator, based in Greensboro, North Carolina, posted revenue of $110.6 million in the period. Its adjusted revenue was $104.6 million.
Tanger expects full-year funds from operations in the range of $1.85 to $1.92 per share.
ASHEVILLE — Ingles Markets Inc. (IMKTA) on Thursday reported profit of $48.3 million in its fiscal third quarter.
The Asheville, North Carolina-based company said it had net income of $2.54 per share.
The grocer posted revenue of $1.43 billion in the period.
GREENSBORO — Kontoor Brands Inc. (KTB) on Thursday reported profit of $36.4 million in its second quarter.
On a per-share basis, the Greensboro, North Carolina-based company said it had net income of 64 cents. Earnings, adjusted for restructuring costs, were 77 cents per share.
The maker of Wrangler and Lee apparel posted revenue of $616 million in the period.
Kontoor expects full-year earnings in the range of $4.55 to $4.75 per share.