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Compared to Estimates, Macerich (MAC) Q4 Earnings: A Look at Key Metrics
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Macerich (MAC - Free Report) reported $238.69 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 4.6%. EPS of $0.56 for the same period compares to $0.01 a year ago.
The reported revenue represents a surprise of -1.37% over the Zacks Consensus Estimate of $242.01 million. With the consensus EPS estimate being $0.55, the EPS surprise was +1.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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- Percentage rents: $19.98 million compared to the $16.06 million average estimate based on four analysts. The reported number represents a change of -15% year over year.
Leasing Revenue- Tenant recoveries: $53.84 million versus $62.14 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.2% change.
Management Companies revenues: $7.95 million versus the four-analyst average estimate of $7.77 million. The reported number represents a year-over-year change of +12.3%.
Leasing Revenue- Minimum rents: $135.94 million compared to the $134.88 million average estimate based on four analysts. The reported number represents a change of +8.3% year over year.
Leasing Revenue- Other: $9.43 million versus the two-analyst average estimate of $9.58 million. The reported number represents a year-over-year change of -3.2%.
Leasing Revenue- Bad debt income (expense): $0.83 million versus the two-analyst average estimate of -$0.38 million. The reported number represents a year-over-year change of -189%.
Other income: $10.72 million versus $13.05 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +30.8% change.
Leasing revenue: $220.02 million versus the two-analyst average estimate of $221.46 million. The reported number represents a year-over-year change of +3.3%.
Net Earnings Per Share (Diluted): $0.29 versus $0.07 estimated by six analysts on average.
Shares of Macerich have returned +7.7% over the past month versus the Zacks S&P 500 composite's +5.6% 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) Q4 Earnings: A Look at Key Metrics
Macerich (MAC - Free Report) reported $238.69 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 4.6%. EPS of $0.56 for the same period compares to $0.01 a year ago.
The reported revenue represents a surprise of -1.37% over the Zacks Consensus Estimate of $242.01 million. With the consensus EPS estimate being $0.55, the EPS surprise was +1.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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- Percentage rents: $19.98 million compared to the $16.06 million average estimate based on four analysts. The reported number represents a change of -15% year over year.
- Leasing Revenue- Tenant recoveries: $53.84 million versus $62.14 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.2% change.
- Management Companies revenues: $7.95 million versus the four-analyst average estimate of $7.77 million. The reported number represents a year-over-year change of +12.3%.
- Leasing Revenue- Minimum rents: $135.94 million compared to the $134.88 million average estimate based on four analysts. The reported number represents a change of +8.3% year over year.
- Leasing Revenue- Other: $9.43 million versus the two-analyst average estimate of $9.58 million. The reported number represents a year-over-year change of -3.2%.
- Leasing Revenue- Bad debt income (expense): $0.83 million versus the two-analyst average estimate of -$0.38 million. The reported number represents a year-over-year change of -189%.
- Other income: $10.72 million versus $13.05 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +30.8% change.
- Leasing revenue: $220.02 million versus the two-analyst average estimate of $221.46 million. The reported number represents a year-over-year change of +3.3%.
- Net Earnings Per Share (Diluted): $0.29 versus $0.07 estimated by six analysts on average.
View all Key Company Metrics for Macerich here>>>Shares of Macerich have returned +7.7% over the past month versus the Zacks S&P 500 composite's +5.6% 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.