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Macerich (MAC) Reports Q1 Earnings: What Key Metrics Have to Say

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For the quarter ended March 2026, Macerich (MAC - Free Report) reported revenue of $241.54 million, down 3.1% over the same period last year. EPS came in at $0.34, compared to -$0.20 in the year-ago quarter.

The reported revenue represents a surprise of +1.2% over the Zacks Consensus Estimate of $238.67 million. With the consensus EPS estimate being $0.31, the EPS surprise was +11.22%.

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: $5.94 million versus $5.63 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +39.6% change.
  • Leasing Revenue- Tenant recoveries: $65.42 million versus the three-analyst average estimate of $63.25 million. The reported number represents a year-over-year change of -2.7%.
  • Management Companies revenues: $6.54 million compared to the $5.53 million average estimate based on three analysts. The reported number represents a change of +33% year over year.
  • Leasing Revenue- Minimum rents: $150.45 million versus the three-analyst average estimate of $148.56 million. The reported number represents a year-over-year change of -6.1%.
  • Leasing Revenue- Other: $5.38 million versus the two-analyst average estimate of $6.09 million. The reported number represents a year-over-year change of -2.9%.
  • Leasing Revenue- Bad debt income (expense): $-1.21 million compared to the $-1.49 million average estimate based on two analysts. The reported number represents a change of -22.3% year over year.
  • Other income: $9.02 million versus $8.89 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.2% change.
  • Leasing revenue: $225.98 million versus $222.57 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.1% change.
  • Net Earnings Per Share (Diluted): $-0.14 versus the five-analyst average estimate of $-0.11.

View all Key Company Metrics for Macerich here>>>

Shares of Macerich have returned +8.3% over the past month versus the Zacks S&P 500 composite's +10.3% 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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