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Macerich Co. Q4 adjusted earnings Beat Estimates

Macerich Co. (MAC) released earnings for its fourth quarter that rose from the same period last year.

The company's profit totaled $26.89 million, or $0.19 per share. This compares with $11.75 million, or $0.08 per share, in last year's fourth quarter.

Excluding items, Macerich Co. reported adjusted earnings of $148.14 million or $0.98 per share for the period.

Analysts had expected the company to earn $0.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.0% to $241.84 million from $246.87 million last year.

Macerich Co. earnings at a glance:

-Earnings (Q4): $148.14 Mln. vs. $165.66 Mln. last year.
-EPS (Q4): $0.98 vs. $1.09 last year.
-Analysts Estimate: $0.18
-Revenue (Q4): $241.84 Mln vs. $246.87 Mln last year.

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