Post-earnings recap
Reported
Wed, May 6, 2026
EPS actual
$0.34
EPS est.
$0.31
EPS surprise
+11.11%
1-day move
+3.40%
The Macerich Company reported better-than-expected earnings per share, which likely contributed to a positive stock reaction, with shares rising 3.4%. However, the company did not provide revenue figures or any guidance updates, leaving some uncertainty about future performance. Investors may view the EPS beat as a sign of resilience in the current market environment.
| Metric | Actual | Expected | Surprise |
|---|---|---|---|
| EPS | $0.34 | $-0.10 | +11.11% |
| Revenue | N/A | $229M | N/A |
No transcript is on record, and the analysis is based on numerical results only.
The Macerich Company (MAC) is a real estate investment trust (REIT) that focuses on owning, operating, and developing retail properties, primarily shopping centers. As consumer spending patterns shift, the performance of retail REITs like Macerich is closely watched, especially in the context of e-commerce growth and changing shopping habits.
Last quarter
In Q4-2025, Macerich reported an EPS of $0.47, exceeding expectations by 8.55%. The stock saw a positive reaction, gaining 1.92% the following day.
Management promises and guidance
EPS beat streak
0Q
EPS beat rate
25%
Avg EPS surprise
-0.09%
Avg 1-day reaction
+0.75%
Analysts expect a challenging quarter for Macerich, with consensus EPS at a loss of $-0.10. Revenue is anticipated to be around $229 million, reflecting ongoing pressures in the retail sector.
Bull case
If Macerich can report better-than-expected earnings and demonstrate strong leasing activity, it could signal a rebound in consumer interest and foot traffic, boosting investor confidence.
Bear case
Conversely, if the company fails to meet earnings expectations or provides weak guidance, it could raise concerns about its ability to navigate the competitive retail landscape.
Key metrics to watch
EPS
$-0.10Earnings per share (EPS) is a key indicator of profitability and will show how well the company is managing its costs and generating income.
Revenue
$229MRevenue figures will provide insight into the overall health of the business and its ability to attract tenants and shoppers.
The print will turn on these.
Q1
Will the EPS be better than the consensus estimate of $-0.10?
A better EPS could indicate stronger operational performance and help restore investor confidence after recent losses.
Q2
What specific strategies will management outline to drive revenue growth amid changing retail dynamics?
Investors will be keen to understand how Macerich plans to adapt to the evolving retail landscape and whether these strategies can lead to improved financial results.
—
Est. EPS
$0.01
Est. Rev
$918M
Impl. Move
±9.1%
Why consensus could be wrong
The Street may underestimate Macerich's ability to adapt its tenant mix and enhance customer experiences, which could lead to better-than-expected results.
Supporting evidence
The company has shown resilience in past quarters, often surprising analysts with its operational strategies.
Options pricing suggests a significant move, indicating that investors are anticipating a more volatile outcome than consensus suggests.
Key risk
If management reveals strong leasing activity and improved tenant engagement, it could challenge the current bearish outlook.
Pre-commit to what would confirm each case.
This quarter's performance is crucial as it reflects the company's ability to adapt to ongoing challenges in the retail sector.
Bull confirmed if
An EPS of $-0.08 or better, along with revenue exceeding $239M, would confirm a bullish outlook.
Bear confirmed if
An EPS worse than $-0.12, combined with revenue below $221M, would reinforce bearish sentiment.
What the market is pricing for the move.
Implied Move
±6.18%
Historical Avg
±3.7%
The options market is pricing in a significant move, suggesting that investors are anticipating volatility around the earnings announcement.
Options are pricing ±5.8% while MAC has averaged ±3.7% over the last 8 prints — setup is pricing rich.
ATM IV
0.5%
30d HV
25.1%
Smart-money positioning from the most recent 13F filings.
Institutional
113.71%
of float
Insider
0.35%
of float
Holders
510
institutions
Top Holders· as of Jun 2026
Blackrock Inc.
54,737,438 sh · $1.2B
19.30%
18.3%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Macerich beats expectations, history suggests the stock could see a positive reaction, potentially around a 3.1% increase based on past performance.
In line / cautious
If results are in line with expectations, the stock may experience muted movement as investors assess management's commentary and future guidance.
Miss
A miss could lead to a decline, with historical data indicating an average drop of about 0.70% following such outcomes.
The lines on the call that would change the story.
FMR, LLC
31,461,342 sh · $698.1M
11.10%
30.8%
Vanguard Portfolio Management LLC
27,314,692 sh · $606.1M
9.63%
6.8%
State Street Corporation
16,342,649 sh · $362.6M
5.76%
10.6%
Vanguard Capital Management LLC
12,682,019 sh · $281.4M
4.47%
10.5%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.