Quarterly ResultMay 7, 2026, 08:51 AM
Macerich Q1 Net Loss Narrows to $(36.35)M; EPS $(0.14)
AI Summary
Macerich reported a net loss attributable to the company of $(36.35) million, or $(0.14) per share, for the first quarter of 2026, an improvement from a net loss of $(50.12) million, or $(0.20) per share, in the prior year. Total revenues decreased to $241.54 million from $249.22 million, while total expenses also decreased. The company amended its revolving credit facility to $900 million and managed several mortgage notes, including repaying a $211.51 million loan and extending another $200 million loan.
Key Highlights
- Net loss attributable to the Company improved to $(36.35) million in Q1 2026 from $(50.12) million in Q1 2025.
- Basic and diluted loss per common share improved to $(0.14) in Q1 2026 from $(0.20) in Q1 2025.
- Total revenues decreased to $241.54 million in Q1 2026 from $249.22 million in Q1 2025.
- Total expenses decreased to $278.05 million in Q1 2026 from $286.41 million in Q1 2025.
- Net cash provided by operating activities was $77.38 million in Q1 2026, down from $88.49 million in Q1 2025.
- Mortgage notes payable decreased to $4.85 billion at March 31, 2026, from $5.07 billion at December 31, 2025.
- Amended revolving credit facility to $900 million, extending maturity to March 1, 2029, with an option to March 1, 2030.
- Repaid $211.51 million loan on Vintage Faire Mall and extended $200 million loan on South Plains Mall.
Price Impact
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