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Macerich (MAC) reported $220.22 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 1%. EPS of $0.38 for the same period compares to -$1.22 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $219.69 million, representing a surprise of +0.24%. The company delivered an EPS surprise of -5.00%, with the consensus EPS estimate being $0.40.
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.
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:
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Leasing Revenue- Minimum rents: $132.81 million versus $127.90 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.3% change.
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Management Companies revenues: $7.09 million versus the three-analyst average estimate of $7.31 million. The reported number represents a year-over-year change of -4.8%.
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Leasing Revenue- Tenant recoveries: $58.68 million versus the three-analyst average estimate of $59.69 million. The reported number represents a year-over-year change of +0.2%.
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Leasing Revenue- Percentage rents: $6.21 million versus the three-analyst average estimate of $7.59 million. The reported number represents a year-over-year change of -24.3%.
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Net Earnings Per Share (Diluted): -$0.50 versus -$0.06 estimated by five analysts on average.
View all Key Company Metrics for Macerich here>>>
Shares of Macerich have returned +5.4% over the past month versus the Zacks S&P 500 composite's +0.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Macerich Company (The) (MAC) : Free Stock Analysis Report