Plus   Neg

Macerich Co. Q3 adjusted earnings Beat Estimates

Macerich Co. (MAC) revealed a profit for third quarter that fell from last year.

The company's profit totaled $46.37 million, or $0.33 per share. This compares with $74.03 million, or $0.52 per share, in last year's third quarter.

Excluding items, Macerich Co. reported adjusted earnings of $133.24 million or $0.88 per share for the period.

Analysts had expected the company to earn $0.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.6% to $231.13 million from $242.20 million last year.

Macerich Co. earnings at a glance:

-Earnings (Q3): $133.24 Mln. vs. $149.58 Mln. last year.
-EPS (Q3): $0.88 vs. $0.99 last year.
-Analysts Estimate: $0.08
-Revenue (Q3): $231.13 Mln vs. $242.20 Mln last year.

Full year EPS guidance: $3.50 - $3.58

For comments and feedback contact: editorial@rttnews.com

Follow RTT