Macerich Q4 net income jumps to $62.2M from $1.7M; record leasing, occupancy 93.5%

MACERICH CO

2023-FY EPS reported -$1.28 revenue$884,068,000

Net income $62.2M ($0.29 diluted) vs $1.7M ($0.01) in Q4 2022; FFO $0.56/share vs $0.53
Same-center NOI (ex lease term income) up 3.0% in Q4, 4.5% for full year 2023
Portfolio occupancy 93.5% (up 90bps YoY); base rent re-leasing spreads +17.2% for 2023
Jackson Hsieh named President & CEO effective March 1, 2024, succeeding retiring Thomas O'Hern
2024 guidance: EPS ($0.08)-$0.02, FFO $1.75-$1.85; quarterly dividend $0.17 payable March 4

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 0.85

MACERICH CO reported financial results for the three and twelve months ended December 31, 2023.

Period: the three and twelve months ended December 31, 2023
Result: reported results

Exact text from the filing

On February 7, 2024, The Macerich Company (the “Company) released its financial results for the three and twelve months ended December 31, 2023 by posting to its website a financial supplement containing financial and operating information of the Company (“Earnings Results & Supplemental Information”) and such Earnings Results & Supplemental Information is furnished as Exhibit 99.1 hereto.

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MACERICH CO filing history →

Source: SEC EDGAR

accession 0000912242-24-000005

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