---
schema_version: "secwatch.filing_event.v1"
accession: "0000912242-24-000069"
form_type: "8-K"
ticker: "MAC"
cik: "0000912242"
company_name: "MACERICH CO"
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T05:15:57.812181+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Macerich Q1 net loss widens to $126.7M; withdraws 2024 guidance; defaults on $300M loan

## Summary
- Net loss attributable to Macerich was $126.7M ($0.59 diluted loss per share) in Q1 2024 vs $58.7M loss ($0.27) in Q1 2023.
- Adjusted FFO was $74.6M ($0.33 per share) vs $95.9M ($0.43) prior year; same-center NOI decreased 1.9%.
- Portfolio occupancy 93.4% (up 1.2% YoY); base rent re-leasing spreads +14.7% for TTM; leased 1.04M sq ft (+14% YoY).
- Defaulted on $300M non-recourse loan on Santa Monica Place (Apr 9); negotiations with lender ongoing.
- Withdrew 2024 EPS and FFO guidance due to strategic plan uncertainty; declared $0.17 quarterly dividend (payable June 3).

## SEC filing metadata
- accession: 0000912242-24-000069
- form_type: 8-K
- ticker: MAC
- cik: 0000912242
- company_name: MACERICH CO
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/912242/000091224224000069/0000912242-24-000069-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/912242/000091224224000069/mac-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000912242-24-000069
- JSON: https://secwatch.observer/filing/0000912242-24-000069.json
- Plain text: https://secwatch.observer/filing/0000912242-24-000069.txt

## Key facts
- Earnings Releases
  MACERICH CO reported three months ended March 31, 2024 results: net income -126.7 million, EPS -0.59.
  - Period: three months ended March 31, 2024
  - Net income: -126.7 million
  - EPS: -0.59
  - Result: reported results
  source text: The net loss attributable to the Company was $126.7 million or $0.59 per share-diluted during the first quarter of 2024, compared to the net loss attributable to the Company of $58.7 million or $0.27 per share-diluted attributable to the Company for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/912242/000091224224000069/0000912242-24-000069-index.htm
- Earnings Releases
  MACERICH CO reported quarter ended March 31, 2023 results: net income -58.7 million, EPS -0.27.
  - Period: quarter ended March 31, 2023
  - Net income: -58.7 million
  - EPS: -0.27
  - Result: reported results
  source text: The net loss attributable to the Company was $126.7 million or $0.59 per share-diluted during the first quarter of 2024, compared to the net loss attributable to the Company of $58.7 million or $0.27 per share-diluted attributable to the Company for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/912242/000091224224000069/0000912242-24-000069-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.