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Macerich Company Increases 2021 Earnings Guidance - Quick Facts

While reporting third-quarter results on Wednesday, The Macerich Company (MAC) increased its 2021 guidance for both estimated EPS, and FFO per share. Earnings per share is now projected in a range of $0.09 - $0.17. FFO per share - excluding items - is now anticipated in a range of $1.92 - $2.00.

Analysts polled by Thomson Reuters expect the company to report a loss per share of $0.53. Analysts' estimates typically exclude special items.

Third-quarter FFO per share, excluding items, was $0.45 compared to $0.52, last year. Net profit was $106.70 million or $0.50 per share compared to a loss of $22.19 million or $0.15 per share.

On average, six analysts polled by Thomson Reuters expected the company to report a loss per share of $0.11, for the quarter.

Revenue increased to $212.14 million from $185.84 million, a year ago. Analysts on average had estimated $202.01 million in revenue.

Same center net operating income, including lease termination income, increased 21.4% from prior year. Same center NOI, excluding lease termination income, rose 20.6%.

Shares of Macerich Company were down 7% in pre-market trade on Wednesday.

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