The Macerich Company (MAC) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Macerich published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Macerich reports EPS two ways: GAAP, under the accounting rules every US filer follows, and FFO per share, as adjusted, diluted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Macerich is a REIT that owns interests in 36 regional retail centers and one community/power shopping center. Revenue here is the "Total revenues" line of its consolidated statement of operations, which excludes its share of unconsolidated joint ventures. The adjusted line is FFO per share, as adjusted, diluted, which also excludes properties in receivership, default interest and gains or losses on extinguishment of debt.
• Santa Monica Place has been under a court-appointed receiver since March 18, 2025, and Macerich excludes its FFO impact from all periods presented.
• Macerich's Q3 2026 release gives no numeric guidance for revenue, FFO or EPS.

Source: Macerich Q3 2026 earnings results and supplemental information, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Macerich splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Macerich's Leasing revenue revenue was $240 million in Q3 2026, up 1% from $237 million in Q3 2025, 92% of total revenue.
• Macerich's Other income revenue was $13.3 million in Q3 2026, up 25% from $10.6 million in Q3 2025, 5% of total revenue.
• Macerich's Management Companies' revenues revenue was $6.9 million in Q3 2026, up 27% from $5.4 million in Q3 2025, 3% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted EPS, each as first reported in that quarter's earnings release and supplemental information.

We do not hold a confirmed date for Macerich's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Macerich reported total revenues of $260.1 million for Q3 2026, up 2.7% from $253.3 million. Leasing revenue was $239.9 million, other income $13.3 million and revenue of its management companies $6.9 million. Macerich owns about 39 million square feet of retail real estate, mainly interests in 36 regional retail centers concentrated in California, the Pacific Northwest, Phoenix/Scottsdale and the Metro New York to Washington, D.C. corridor. (Macerich Q3 2026 earnings results and supplemental information, Nov 4, 2026)

Leasing revenue rose $2.7 million, or 1.1%. The 10-Q breaks that down as $9.7 million more from acquired properties and $6.7 million more from Same Centers, offset by $8.7 million less from properties sold and $5.0 million less from Santa Monica Place, which is in receivership. Macerich bought Crabtree Mall in Raleigh in June 2025 for $290 million and Annapolis Mall in Maryland on April 30, 2026 for $260 million. (Macerich Form 10-Q, Q3 2026, Nov 5, 2026)

Macerich kept selling properties. In September 2026 it sold Pacific View in Ventura, California, for $69.7 million, with the buyer assuming the $69.7 million loan, and it completed land sales of about $3.9 million in the quarter. (Macerich Q3 2026 earnings results and supplemental information, Nov 4, 2026)

Tenant sales and occupancy rose. Portfolio sales per square foot for spaces under 10,000 square feet were $943 for the twelve months to September 30, 2026, against $867 a year earlier, and leased occupancy was 94.9%, against 93.4%. Average base rent was $70.73 per square foot. Macerich signed about 1.2 million square feet of leases in the quarter, with new-store leased square footage up 16.9% from a year earlier. (Macerich Q3 2026 earnings results and supplemental information, Nov 4, 2026)

By state, California provides 21.5% of Go-Forward Portfolio Centers pro rata real estate NOI, Arizona 21.2%, New York 16.9%, and Pennsylvania, Virginia and North Carolina together 14.1%. (Macerich Q3 2026 earnings results and supplemental information, Nov 4, 2026)

Macerich's net loss attributable to the company narrowed to $16.7 million, or $0.06 per diluted share, from $87.4 million, or $0.34. Macerich attributes the change mainly to a gain on sale of assets in Q3 2026: the line was a $14.7 million gain against a $72.6 million loss on sale or write down of assets a year earlier. The quarter also carried a $10.4 million loss on extinguishment of debt. (Macerich Q3 2026 earnings results and supplemental information, Nov 4, 2026)

As a REIT, Macerich reports FFO. Nareit FFO was $87.0 million, or $0.29 per share, against $0.33. FFO, as adjusted, which also excludes properties in receivership, default interest expense and the loss on extinguishment of debt, was $109.1 million, or $0.37 per diluted share, against $0.36. (Macerich Q3 2026 earnings results and supplemental information, Nov 4, 2026)

Per-share figures are spread over more shares. Weighted average basic shares rose to 284,079 thousand from 254,130 thousand. Macerich also entered forward sale agreements in June 2026 covering 14,000,000 shares plus 2,100,000 additional shares, which it expects to settle by June 16, 2027. It paid a dividend of $0.17 per share. (Macerich Q3 2026 earnings results and supplemental information, Nov 4, 2026; Macerich Form 10-Q, Q3 2026, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Macerich's Q3 2026 release gives no numeric outlook for revenue, FFO or EPS. It describes progress against its Path Forward Plan: Go-Forward Portfolio Centers NOI, excluding lease termination income, rose 4.7%, Go-Forward leased occupancy reached 96.1%, and the signed-not-open new store pipeline reached $131 million of a $140 million total opportunity. (Macerich Q3 2026 earnings results and supplemental information, Nov 4, 2026)

Macerich said it is under contract on another off-market mall acquisition expected to close by year end. After the quarter, the $74.4 million loan at Fashion Outlets of Niagara Falls and the $325.0 million loan at Fresno Fashion Fair went into default, and Macerich said it is negotiating with the lenders on both. (Macerich Q3 2026 earnings results and supplemental information, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Macerich, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Macerich's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MAC is on is MAC a buy or a sell?, what analysts expect next is on the MAC forecast, and what the company does is on the The Macerich Company (MAC) stock page.

Every number on this page can be traced to a document Macerich published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.