Macerich Q1 2023 net loss widens to $58.7M; same-center NOI up 4.8% ex lease term

MACERICH CO

2023-Q1 EPS reported -$0.27 revenue$214,854,000

Net loss attributable to company $58.7M ($0.27/diluted) vs loss $37.2M ($0.17/diluted) in Q1 2022.
FFO (ex-Chandler Freehold) $88.7M ($0.40/diluted) vs $112.4M ($0.50/diluted) in Q1 2022.
Same-center NOI ex lease termination +4.8%; occupancy 92.2% (up from 91.3% a year ago).
Re-leasing spreads 6.6% vs 4.0% at year-end 2022; leasing volume up 59% sq ft vs Q1 2022.
EPS diluted guidance lowered to ($0.32)-($0.22); FFO/diluted maintained $1.75-$1.85; dividend $0.17.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MACERICH CO reported the three months ended March 31, 2023 results: net income net loss attributable to the Company was $58.7 million or $0.27 per share-diluted, EPS $0.27 per share-diluted. Guidance lowered.

Period: the three months ended March 31, 2023
Net income: net loss attributable to the Company was $58.7 million or $0.27 per share-diluted
EPS: $0.27 per share-diluted
Guidance: lowered
Result: reported results

Exact text from the filing

the net loss attributable to the Company was $58.7 million or $0.27 per share-diluted during the first quarter of 2023

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Source: SEC EDGAR

accession 0000912242-23-000010

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