MAC Earnings Prediction
The chart below shows how MAC performed 10 days before and after its earnings report, based on data from the past quarters. Typically, MAC sees a -2.89% change in stock price 10 days leading up to the earnings, and a -0.66% change 10 days following the report. On the earnings day itself, the stock moves by -1.84%. This data can give you a slight idea of what to expect for the next quarter's release.
MAC Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
220.22M
0.95%
2.18%
Gross Margin
19.57%
-6.68%
-4.91%
Operating Margin
16.84%
-7.78%
-2.88%
Net Margin
-50.90%
-59.17%
-141.32%
EPS
-0.50
-59.02%
-143.10%
No Data Available
MAC Earnings Analysis
The Macerich Company Corporation (MAC.N) Earnings Conference Call
Positive
Occupancy Rate Increase: 1. Improved Occupancy Rates: The occupancy rate increased to 95.4%, up 40 basis points from the previous quarter and 30 basis points year-over-year, indicating strong demand for leasing.
Same-Store NOI Increase: 2. Increased Same-Store NOI: Same-store NOI rose by 2.8% when excluding the Eddie Group of assets, reflecting effective management and operational improvements.
Leasing Activity Surge: 3. Strong Leasing Activity: In Q3, 220 leases were signed for 830,000 square feet, contributing to a year-to-date total of 2.6 million square feet, showcasing robust demand for retail space.
New Store Openings Impact: 4. Significant New Store Openings: Year-to-date, Macerich has opened 1 million square feet of new stores, with notable openings like Primark at Tysons Corner Center, which is expected to significantly boost traffic and sales.
Traffic Recovery Indicators: 5. Positive Traffic Trends: Traffic in the third quarter was up 2.4% compared to the same period last year, with 70% of centers experiencing positive trends, indicating a recovery in consumer engagement.
Negative
FFO Decline Analysis: 1. Declining FFO: FFO per share for Q3 2024 was $0.38, down from $0.45 in Q3 2023, representing a $14 million decrease year-over-year.
Rising Interest Expense: 2. Increased Interest Expense: Interest expense rose by $5 million due to rising rates, negatively impacting overall financial performance.
Declining Sales Metrics: 3. Flat Sales Performance: Sales per square foot decreased by $1 from the previous quarter, and year-to-date sales are down about 1% compared to the same period last year.
Tenant Bankruptcy Challenges: 4. Bankruptcy Filings: Only one tenant filed for bankruptcy in Q3, but this indicates ongoing challenges in maintaining tenant stability, with 100,000 square feet affected this year.
Severance Charges Impact: 5. Severance Charges: The company will incur severance charges in Q4 related to executive transitions, resulting in a $0.02 reduction to fourth quarter earnings.
MAC FAQs
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MAC Earning Call Sentiment
The Macerich Company (MAC) Q3 2024 Earnings Conference Call Transcript
1.0x
00:00
00:00
MAC.N
-0.42%Positive
The earnings call summary presents a mixed picture: strong leasing momentum and asset sales positively impact financial health, but flat sales and vague growth discussions raise concerns. The Q&A section reflects uncertainty about growth rates and market conditions, with management avoiding specifics. Despite positive leasing trends and asset sales, the lack of clear guidance and flat sales suggest a neutral sentiment. The market cap suggests a moderate reaction, leading to a neutral prediction for the stock price movement.
