Quarterly ResultAug 5, 2026, 08:47 AM
Macerich Q2 Net Loss Narrows to $(27.1)M; EPS $(0.10)
AI Summary
Macerich reported a significant narrowing of its net loss for the second quarter and first half of 2026, with Q2 net loss attributable to the Company improving to $(27.07)M from $(40.91)M year-over-year. Basic loss per common share also improved to $(0.10) from $(0.16). Total revenues saw a slight decrease, while net cash provided by operating activities declined. The company also noted a $150M joint venture loan default on Twenty Ninth Street and completed the sale of its 19% interest in West Acres for $1.4M, recognizing a gain. Significant proceeds from stock offerings contributed to financing activities.
Key Highlights
- Net loss attributable to the Company narrowed to $(27.07)M in Q2 2026 from $(40.91)M in Q2 2025.
- Basic loss per common share improved to $(0.10) in Q2 2026 from $(0.16) in Q2 2025.
- Total revenues were $249.71M in Q2 2026, a slight decrease from $249.79M in Q2 2025.
- Net cash provided by operating activities decreased to $144.25M for H1 2026 from $159.01M for H1 2025.
- Joint venture loan on Twenty Ninth Street, $150M, is in default as of February 6, 2026.
- Sold 19% interest in West Acres for $1.4M, recognizing a gain of $6.57M in Q2 2026.
- Proceeds from stock offerings, net, totaled $531.84M for H1 2026.
- Mortgage notes payable decreased to $4.85B at June 30, 2026 from $5.07B at Dec 31, 2025.
Price Impact
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