The earnings call highlighted strong leasing activity, strategic acquisition, and significant progress on dispositions, suggesting a positive trajectory. However, challenges such as occupancy decline due to store closures and rising costs were noted. Overall, the positive highlights significantly outweigh the lowlights.

Company Guidance -

Q3 2025

During the second quarter 2025 earnings call, Macerich provided key guidance on its Path Forward plan, focusing on simplifying the business, operational performance improvement, and leverage reduction. The company is targeting an average of 4 million square feet of leasing in 2025 and 2026, and has already signed 4.3 million square feet year-to-date. Macerich aims to achieve 70% new deal completion by the end of 2025, reaching 85% by mid-2026, with an ultimate opportunity to achieve $130 million in cumulative signed-not-open (SNO) potential. The SNO pipeline has increased from $75 million at the end of the last quarter to $87 million currently, on track to exceed the $100 million target by year-end. The company also closed the acquisition of Crabtree Mall for approximately $290 million, with plans to drive permanent occupancy from 74% to closer to 90% by 2028. Macerich reported FFO of approximately $87 million or $0.33 per share for the second quarter, and the go-forward portfolio NOI, excluding lease termination income, increased by 2.4% compared to last year. As part of deleveraging efforts, Macerich's net debt to EBITDA ratio is now 7.9x, with plans to reduce it to the low to mid-6x range over the next few years.

Strong Leasing Performance

Year-to-date, Macerich has signed 4.3 million square feet of leases, exceeding the annual target ahead of schedule. The SNO pipeline has grown to $87 million, with a target to exceed $100 million by year-end.

Strategic Acquisition of Crabtree Mall

Macerich acquired Crabtree Mall for $290 million, aiming to increase its permanent occupancy from 74% to 90% by 2028, thus enhancing its portfolio and shareholder value.

Positive Leasing Spreads and New Store Openings

The company maintained positive leasing spreads of 10.5% for 15 consecutive quarters. In the second quarter, 331 new and renewal leases were signed for 1.7 million square feet.

Significant Disposition Progress

Macerich has completed over $800 million in mall sales as part of its $2 billion disposition target, with several properties under contract for additional sales.

Macerich (MAC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

MAC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	-0.07 / -	-0.5	―	―	―
Aug 11, 2025	2025 (Q2)	-0.09 / -0.16	1.16	-113.79% (-1.32)	―
May 12, 2025	2025 (Q1)	-0.08 / -0.20	-0.59	66.10% (+0.39)	―
Feb 27, 2025	2024 (Q4)	0.04 / -0.89	0.29	-406.90% (-1.18)	―
Nov 06, 2024	2024 (Q3)	-0.06 / -0.50	-1.22	59.02% (+0.72)	―
Jul 31, 2024	2024 (Q2)	-0.07 / 1.16	-0.07	1757.14% (+1.23)	―
Apr 30, 2024	2024 (Q1)	-0.09 / -0.59	-0.27	-118.52% (-0.32)	―
Feb 07, 2024	2023 (Q4)	0.08 / 0.29	0.01	2800.00% (+0.28)	―
Oct 31, 2023	2023 (Q3)	-0.05 / -1.22	-0.07	-1642.86% (-1.15)	―
Aug 08, 2023	2023 (Q2)	-0.08 / -0.07	-0.07	0.00% (0.00)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MAC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 11, 2025	$16.66	$17.43	+4.62%
May 12, 2025	$14.82	$16.37	+10.46%
Feb 27, 2025	$19.72	$17.96	-8.92%
Nov 06, 2024	$18.41	$18.09	-1.74%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Macerich Company (MAC) report earnings?

Macerich Company (MAC) is schdueled to report earning on Oct 29, 2025, After Close (Confirmed).

What is Macerich Company (MAC) earnings time?

Macerich Company (MAC) earnings time is at Oct 29, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is MAC EPS forecast?

MAC EPS forecast for the fiscal quarter 2025 (Q3) is -0.07.

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