Post-earnings recap
Reported
Tue, Aug 4, 2026
EPS actual
$0.32
EPS est.
$0.33
EPS surprise
-3.90%
1-day move
-0.97%
The Macerich Company's earnings report showed a slight miss on EPS, which contributed to a stock decline of 0.97%. Investors may be cautious due to the lack of revenue information and guidance. Overall, the results indicate some challenges for the company in meeting expectations.
| Metric | Actual | Expected | Surprise |
|---|---|---|---|
| EPS | $0.32 | N/A | -3.90% |
| Revenue | — | 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. With a market cap of $7 billion, it plays a significant role in the retail sector, which has been adapting to changing consumer behaviors and e-commerce trends.
Last quarter
In Q1 2026, Macerich reported an EPS of $0.34, beating expectations by 11.11%. The stock reacted positively, gaining 3.40% 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%
Investors are cautiously optimistic about Macerich's upcoming earnings, especially following the recent positive EPS surprise. However, concerns remain about the overall retail environment and consumer spending.
Bull case
If Macerich continues to show strong occupancy rates and same-store sales growth, it could indicate resilience in its portfolio, leading to further stock appreciation.
Bear case
On the other hand, if occupancy rates decline or if management provides weak guidance, it could signal deeper issues in the retail sector, negatively impacting the stock.
The print will turn on these.
Q1
What is the current occupancy rate and how does it compare to last quarter?
Occupancy rates are crucial for revenue generation, and any significant changes could impact investor confidence.
Q2
What are the expectations for same-store sales growth this quarter?
This metric directly reflects the health of Macerich's retail properties and can influence future earnings guidance.
—
Est. EPS
—
Est. Rev
—
Impl. Move
±12.7%
Why consensus could be wrong
The Street may underestimate the resilience of Macerich's properties, particularly in high-traffic areas that continue to attract consumers despite broader retail challenges.
Supporting evidence
Recent occupancy trends have shown stability in key markets.
The company's focus on enhancing tenant mix could lead to improved sales figures.
Options pricing suggests heightened volatility, indicating that traders expect significant news.
Key risk
If occupancy rates show unexpected strength, it could challenge the current cautious sentiment.
Pre-commit to what would confirm each case.
The market is closely watching occupancy and sales growth as indicators of Macerich's ability to navigate the evolving retail landscape.
Bull confirmed if
Occupancy rates above 95% would confirm strong demand for retail space.
Bear confirmed if
Occupancy rates below 90% would raise concerns about the viability of the current portfolio.
What the market is pricing for the move.
Implied Move
±13.57%
Historical Avg
±3.7%
The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.
Options are pricing ±13.6% while MAC has averaged ±3.7% over the last 8 prints — setup is pricing rich.
ATM IV
0.3%
30d HV
27.5%
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 a potential stock increase of around 2.64%, confirming the strength of its portfolio.
In line / cautious
If results are in line but management is cautious, the stock may see muted movement as investors reassess their outlook.
Miss
If the company misses expectations, history indicates a potential decline of around 2.64%, reflecting investor disappointment.
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.