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Compared to Estimates, Macerich (MAC) Q1 Earnings: A Look at Key Metrics
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Macerich (MAC - Free Report) reported $208.78 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.8%. EPS of $0.31 for the same period compares to -$0.27 a year ago.
The reported revenue represents a surprise of -3.93% over the Zacks Consensus Estimate of $217.32 million. With the consensus EPS estimate being $0.39, the EPS surprise was -20.51%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Macerich performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Leasing Revenue- Minimum rents: $127.12 million compared to the $125.05 million average estimate based on three analysts. The reported number represents a change of +2.6% year over year.
Management Companies revenues: $8.23 million compared to the $7.27 million average estimate based on three analysts. The reported number represents a change of +21.8% year over year.
Leasing Revenue- Tenant recoveries: $58.03 million versus $58.27 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -2.7% change.
Leasing Revenue- Percentage rents: $2.58 million versus $6.63 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -53% change.
Net Earnings Per Share (Diluted): -$0.59 compared to the -$0.08 average estimate based on five analysts.
Shares of Macerich have returned -4.7% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Macerich (MAC) Q1 Earnings: A Look at Key Metrics
Macerich (MAC - Free Report) reported $208.78 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.8%. EPS of $0.31 for the same period compares to -$0.27 a year ago.
The reported revenue represents a surprise of -3.93% over the Zacks Consensus Estimate of $217.32 million. With the consensus EPS estimate being $0.39, the EPS surprise was -20.51%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Macerich performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Leasing Revenue- Minimum rents: $127.12 million compared to the $125.05 million average estimate based on three analysts. The reported number represents a change of +2.6% year over year.
- Management Companies revenues: $8.23 million compared to the $7.27 million average estimate based on three analysts. The reported number represents a change of +21.8% year over year.
- Leasing Revenue- Tenant recoveries: $58.03 million versus $58.27 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -2.7% change.
- Leasing Revenue- Percentage rents: $2.58 million versus $6.63 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -53% change.
- Net Earnings Per Share (Diluted): -$0.59 compared to the -$0.08 average estimate based on five analysts.
View all Key Company Metrics for Macerich here>>>Shares of Macerich have returned -4.7% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.