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Macerich Company (The) Earnings Calls
| Release date | Nov 04, 2025 |
| EPS estimate | $0.360 |
| EPS actual | $0.350 |
| EPS Surprise | -2.78% |
| Revenue estimate | 275.252M |
| Revenue actual | 253.262M |
| Revenue Surprise | -7.99% |
| Release date | Aug 11, 2025 |
| EPS estimate | $0.340 |
| EPS actual | $0.320 |
| EPS Surprise | -5.88% |
| Revenue estimate | 245.741M |
| Revenue actual | 249.793M |
| Revenue Surprise | 1.65% |
| Release date | May 12, 2025 |
| EPS estimate | $0.310 |
| EPS actual | $0.330 |
| EPS Surprise | 6.45% |
| Revenue estimate | 199.744M |
| Revenue actual | 249.224M |
| Revenue Surprise | 24.77% |
| Release date | Feb 27, 2025 |
| EPS estimate | $0.470 |
| EPS actual | $0.470 |
| Revenue estimate | 195.857M |
| Revenue actual | 273.676M |
| Revenue Surprise | 39.73% |
Last 4 Quarters for Macerich Company (The)
Below you can see how MAC performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Feb 27, 2025 |
| Price on release | $18.32 |
| EPS estimate | $0.470 |
| EPS actual | $0.470 |
| Date | Price |
|---|---|
| Feb 21, 2025 | $19.82 |
| Feb 24, 2025 | $19.81 |
| Feb 25, 2025 | $19.74 |
| Feb 26, 2025 | $20.12 |
| Feb 27, 2025 | $18.32 |
| Feb 28, 2025 | $18.04 |
| Mar 03, 2025 | $18.40 |
| Mar 04, 2025 | $17.79 |
| Mar 05, 2025 | $18.17 |
| 4 days before | -7.57% |
| 4 days after | -0.82% |
| On release day | -1.53% |
| Change in period | -8.32% |
| Release date | May 12, 2025 |
| Price on release | $16.54 |
| EPS estimate | $0.310 |
| EPS actual | $0.330 |
| EPS surprise | 6.45% |
| Date | Price |
|---|---|
| May 06, 2025 | $14.83 |
| May 07, 2025 | $14.88 |
| May 08, 2025 | $15.06 |
| May 09, 2025 | $14.98 |
| May 12, 2025 | $16.54 |
| May 13, 2025 | $16.07 |
| May 14, 2025 | $15.62 |
| May 15, 2025 | $15.87 |
| May 16, 2025 | $16.03 |
| 4 days before | 11.53% |
| 4 days after | -3.08% |
| On release day | -2.84% |
| Change in period | 8.09% |
| Release date | Aug 11, 2025 |
| Price on release | $16.66 |
| EPS estimate | $0.340 |
| EPS actual | $0.320 |
| EPS surprise | -5.88% |
| Date | Price |
|---|---|
| Aug 05, 2025 | $17.10 |
| Aug 06, 2025 | $17.01 |
| Aug 07, 2025 | $16.58 |
| Aug 08, 2025 | $16.69 |
| Aug 11, 2025 | $16.66 |
| Aug 12, 2025 | $17.43 |
| Aug 13, 2025 | $17.87 |
| Aug 14, 2025 | $17.39 |
| Aug 15, 2025 | $17.21 |
| 4 days before | -2.57% |
| 4 days after | 3.30% |
| On release day | 4.62% |
| Change in period | 0.643% |
| Release date | Nov 04, 2025 |
| Price on release | $17.70 |
| EPS estimate | $0.360 |
| EPS actual | $0.350 |
| EPS surprise | -2.78% |
| Date | Price |
|---|---|
| Oct 29, 2025 | $16.90 |
| Oct 30, 2025 | $16.92 |
| Oct 31, 2025 | $17.15 |
| Nov 03, 2025 | $17.34 |
| Nov 04, 2025 | $17.70 |
| Nov 05, 2025 | $17.67 |
| Nov 06, 2025 | $17.40 |
| Nov 07, 2025 | $18.02 |
| Nov 10, 2025 | $17.90 |
| 4 days before | 4.73% |
| 4 days after | 1.13% |
| On release day | -0.169% |
| Change in period | 5.92% |
Macerich Company (The) Earnings Call Transcript Summary of Q3 2025
Macerich reported strong operational momentum in Q3 2025 driven by accelerated leasing and portfolio stabilization as part of its Path Forward plan. Highlights: (1) Leasing: Signed 1.5 million sq ft in Q3 and 5.4 million sq ft year-to-date (≈+86% YoY), with leasing completion at 70% vs. a 70% year-end goal and a pipeline of LOIs expected to reach 85% by mid-2026. (2) SNO and Crabtree: The specialty net operating income (SNO) pipeline grew from $87M to $99M; including the Crabtree acquisition, management expects ~$140M incremental SNO with potential to exceed that level. (3) Portfolio metrics: Go-forward portfolio sales $905/ft, overall portfolio sales $867/ft (+~4% YoY); occupancy 93.4% overall and 94.3% go-forward (up ~150 bps QoQ). Forever 21 vacancies are 74% committed for re-leasing. (4) Anchors & merchandising: 30 anchors targeted to open 2025–2028 (25 committed) with Dick’s House of Sport a key traffic driver; management expects anchor rollouts to materially increase traffic and rents over time. (5) Financials & balance sheet: Q3 adjusted FFO was ~$93M ($0.35/share). Net debt/EBITDA was 7.76x (down ~1.0x since Path Forward start) with a goal of low-to-mid 6x. Liquidity ~ $1B (including $650M revolver capacity). Dispositions: ~$1.2B closed toward a $2B target (expect substantially complete by end-2026). (6) Capital actions: Issued ~$50M via ATM to help offset Crabtree leverage; Crabtree financing closed with a term loan at SOFR + 250 bps. Management remains disciplined on acquisitions, focused first on leasing, operational improvements and deleveraging. Key near-term risks: remaining 2025/2026 maturities (one 2025 loan at South Plains likely to be in technical default at maturity), macro/tariff uncertainty, and timing of remaining dispositions.
