Macerich (MAC) Q3 FY2025 earnings: revenue $253 million, up 15.0% on the year

Macerich Co. (MAC) reported revenue of $253 million for Q3 FY2025, the quarter ended 30 September 2025, up 15.0% on the same quarter a year earlier. Net income was -$87 million, and diluted earnings per share $-0.34. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2025.

Revenue$253 millionup 15.0%

Net income-$87 million

Diluted EPS$-0.34

QuarterQ3 FY2025ended 30 September 2025

The quarter, against the one before and a year earlier

Line	Q3 FY2025	Q2 FY2025	Q3 FY2024	Change on the year
Revenue	253	250	220	+15.0%
Operating income	-27.8	-30.8	-20.0	n/a
Operating margin	-11.0%	-12.3%	-9.1%
Income tax	-0.7	-0.2	0.5	n/a
Net income	-87.4	-40.9	-108	n/a
Net margin	-34.5%	-16.4%	-49.1%
Diluted EPS	-$0.34	-$0.16	-$0.50	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2025	Q2 FY2025	Q3 FY2024	Change on the year
Operating cash flow	112	70.5	100	+12.3%
Capital expenditure	17.8	10.7	19.3	-7.8%
Free cash flow	94.6	59.8	80.7	+17.2%
Free cash flow margin	37.4%	23.9%	36.7%
Cash from investing	-3.5	-232	66.0	n/a
Cash from financing	46.2	42.1	-118	n/a
Depreciation and amortisation	90.9	88.5	73.3	+24.0%
Share-based compensation	4.9	5.1	3.8	+26.6%
Dividends paid	45.9	45.7	39.8	+15.1%
Dividend per share	$0.17	$0.17	$0.17	+0.0%
Diluted shares, weighted	254m	253m	218m	+16.3%
Shares outstanding at period end	256m	253m	226m	+13.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2025	Q2 FY2025	Q3 FY2024	Change on the year
Shareholders' equity	2,511	2,585	2,512	-0.0%
Non-controlling interest	70.5	77.5	77.5	-8.9%
Debt	5,077	5,230	4,342	+16.9%
Other liabilities	765	837	659	+16.1%
Total liabilities and equity	8,424	8,729	7,590	+11.0%
Cash and equivalents	290	131	116	+149.1%
Other assets	8,134	8,598	7,474	+8.8%
Total assets	8,424	8,729	7,590	+11.0%

Questions

What was Macerich's revenue in Q3 FY2025?

Macerich (MAC) reported revenue of $253 million for Q3 FY2025, the quarter ended 30 September 2025, up 15.0% on the same quarter a year earlier.

How much did Macerich earn in Q3 FY2025?

Net loss for Q3 FY2025 was $87 million, and the diluted loss per share $0.34.

When did Macerich report Q3 FY2025 results?

Macerich filed its 10-Q for the quarter ended 30 September 2025 with the SEC on 5 November 2025.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	218	239	209	216	220	274	249	250	253	262	242	250
Operating income	-13.5	45.8	-23.3	-2.4	-20.0	5.2	-37.2	-30.8	-27.8	-20.0	-36.5	-27.7
Operating margin	-6%	19%	-11%	-1%	-9%	2%	-15%	-12%	-11%	-8%	-15%	-11%
Net income	-263	62.2	-127	252	-108	-211	-50.1	-40.9	-87.4	-18.8	-36.4	-27.1
Net margin	-120%	26%	-61%	117%	-49%	-77%	-20%	-16%	-34%	-7%	-15%	-11%
Diluted EPS	-$1.22	$0.29	-$0.59	$1.16	-$0.50	-$0.89	-$0.20	-$0.16	-$0.34	-$0.07	-$0.14	-$0.10
Operating cash flow	107	49.4	61.1	67.4	100	54.9	88.5	70.5	112	50.2	77.4	66.9
Capital expenditure	13.4	25.8	7.3	15.8	19.3	15.9	6.8	10.7	17.8	31.1	28.7	25.1
Free cash flow	94.0	23.6	53.8	51.6	80.7	39.0	81.7	59.8	94.6	19.1	48.7	41.8
Dividends paid	39.0	39.2	39.2	41.0	39.8	41.2	50.4	45.7	45.9	46.2	49.0	51.8
Shares outstanding	216m	216m	216m	216m	226m	253m	253m	253m	256m	257m	261m	284m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2025, filed 5 November 2025, accession 0000912242-25-000076: the filing on EDGAR. All of Macerich Co.'s filings: EDGAR company page.

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