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Macerich (MAC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, Macerich (MAC - Free Report) reported revenue of $214.85 million, down 0.6% over the same period last year. EPS came in at $0.40, compared to -$0.17 in the year-ago quarter.
The reported revenue represents a surprise of +0.51% over the Zacks Consensus Estimate of $213.77 million. With the consensus EPS estimate being $0.41, the EPS surprise was -2.44%.
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:
Management Companies: $6.76 million compared to the $7.05 million average estimate based on four analysts. The reported number represents a change of +5.5% year over year.
Leasing Revenue- Tenant recoveries: $59.62 million versus the three-analyst average estimate of $54.90 million.
Leasing Revenue- Minimum rents: $123.88 million versus the three-analyst average estimate of $125.13 million.
Leasing Revenue- Percentage rents: $5.50 million compared to the $9.47 million average estimate based on three analysts.
Shares of Macerich have returned +0.2% over the past month versus the Zacks S&P 500 composite's -0.7% 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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Macerich (MAC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, Macerich (MAC - Free Report) reported revenue of $214.85 million, down 0.6% over the same period last year. EPS came in at $0.40, compared to -$0.17 in the year-ago quarter.
The reported revenue represents a surprise of +0.51% over the Zacks Consensus Estimate of $213.77 million. With the consensus EPS estimate being $0.41, the EPS surprise was -2.44%.
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:
- Management Companies: $6.76 million compared to the $7.05 million average estimate based on four analysts. The reported number represents a change of +5.5% year over year.
- Leasing Revenue- Tenant recoveries: $59.62 million versus the three-analyst average estimate of $54.90 million.
- Leasing Revenue- Minimum rents: $123.88 million versus the three-analyst average estimate of $125.13 million.
- Leasing Revenue- Percentage rents: $5.50 million compared to the $9.47 million average estimate based on three analysts.
View all Key Company Metrics for Macerich here>>>Shares of Macerich have returned +0.2% over the past month versus the Zacks S&P 500 composite's -0.7% 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.