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Macerich Company (MAC)
NYSE:MAC
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.03Last Year’s EPS
$0.29Same Quarter Last Year
Moderate Sell
Based on 11 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 7.89%
|Next Earnings Date:Feb 06, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with notable progress in operational improvements, leasing success, and debt reduction. However, there were challenges with sales declines, increased interest expenses, and upcoming severance charges. The sentiment reflected a balanced view with both positive achievements and areas of concern.Company Guidance
During the third quarter 2024 earnings call for Macerich, the company provided guidance reflecting continued improvement in operational metrics. The occupancy rate was reported at 95.4% excluding Eddy properties, with a sales per square foot of $910 and a same-store NOI increase of 2.8%. Traffic increased by 1.6% compared to the previous quarter. The company is targeting a $2 billion reduction in long-term debt, with $1.17 billion already in progress. Leasing activity remains robust, with 220 leases signed for 830,000 square feet in Q3 alone, and a year-to-date total of 2.6 million square feet. The signed not open pipeline includes 133 leases for 1.7 million square feet, expected to generate $80 million in incremental rent by early 2027. The company's strategic initiatives include refinancing high-cost debt and pursuing redevelopment plans to enhance long-term growth and simplify business operations.Operational Improvements in Q3
Occupancy, leasing activity, and same-store NOI improved over the previous quarter. Excluding Eddy assets, sales per square foot was $910, occupancy rate was 95.4%, same-store NOI was 2.8%, and traffic was up 1.6%.
Progress on Debt Reduction
Targeting a $2 billion reduction in long-term debt, with approximately 60% or $1.17 billion of that target either completed or in progress.
Leasing Success
Signed 220 leases for 830,000 square feet in Q3, with a year-to-date total of 2.6 million square feet. Trailing 12-month base leasing spreads remained positive at 11.9%.
New Store Openings and Pipeline
Opened 225,000 square feet of new stores in Q2, with a year-to-date total of 1 million square feet. 133 leases signed for 1.7 million square feet of new stores expected to open through early 2027.
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MAC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MAC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $18.78 | $18.45 | -1.76% |
| Jul 31, 2024 | $16.40 | $15.69 | -4.33% |
| Apr 30, 2024 | $15.53 | $13.34 | -14.10% |
| Feb 07, 2024 | $15.94 | $16.28 | +2.13% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Macerich Company (MAC) report earnings?
Macerich Company (MAC) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is Macerich Company (MAC) earnings time?
Macerich Company (MAC) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MAC EPS forecast?
MAC EPS forecast for the fiscal quarter 2024 (Q4) is $0.03.
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