Macerich (MAC) Q3 FY2026 earnings: revenue $260 million, up 2.7% on the year

Macerich Co. (MAC) reported revenue of $260 million for Q3 FY2026, the quarter ended 30 September 2026, up 2.7% on the same quarter a year earlier. Net income was -$17 million, and diluted earnings per share $-0.06. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$260 million

+2.7% on the year · +4.1% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-14.5%

-11.0% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$17 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.06

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 1 kept.

Net loss narrowed, FFO per share rose: Net loss attributable to the Company was $16.7 million, or $0.06 per diluted share, against $87.4 million, or $0.34, a year earlier. FFO, as adjusted, was $109.1 million, or $0.37 per share, against $0.36.
Go-Forward NOI rose 4.7%: NOI of Go-Forward Portfolio Centers, excluding lease termination income, rose 4.7% year over year; including lease termination income, the increase was 3.8%.
Anchor openings lifted nearby traffic: Management said traffic at Freehold Raceway, Annapolis and Crabtree malls rose in the high-single-digit to mid-double-digit range since DICK’S House of Sport opened. Level 99 and Seafood City drove comparable increases.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	260	250	253	+4.1%	+2.7%
Operating income	-37.8	-27.7	-27.8
Operating margin	-14.5%	-11.1%	-11.0%
Income tax	0.1	0.5	-0.7	-83.8%
Net income	-16.7	-27.1	-87.4
Net margin	-6.4%	-10.8%	-34.5%
Diluted EPS	-$0.06	-$0.10	-$0.34

$ 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

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	109	66.9	112	+63.6%	-2.7%
Capital expenditure	31.8	25.1	17.8	+26.9%	+78.8%
Free cash flow	77.6	41.8	94.6	+85.6%	-18.0%
Free cash flow margin	29.8%	16.7%	37.4%
Cash from investing	-71.5	-338	-3.5
Cash from financing	274	311	46.2	-11.9%	+493.2%
Depreciation and amortisation	88.0	86.2	90.9	+2.1%	-3.2%
Share-based compensation	6.5	6.8	4.9	-4.3%	+33.7%
Dividends paid	51.1	51.8	45.9	-1.3%	+11.5%
Dividend per share	$0.17	$0.17	$0.17	0.0%	0.0%
Diluted shares, weighted	284m	274m	254m	+3.8%	+11.8%
Shares outstanding at period end	284m	284m	256m	+0.0%	+10.8%

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

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	2,723	2,827	2,511	-3.7%	+8.5%
Non-controlling interest	76.7	80.3	70.5	-4.5%	+8.7%
Debt	5,168	4,848	5,077	+6.6%	+1.8%
Other liabilities	798	768	765	+3.8%	+4.2%
Total liabilities and equity	8,766	8,524	8,424	+2.8%	+4.1%
Cash and equivalents	561	227	290	+147.0%	+93.3%
Other assets	8,205	8,297	8,134	-1.1%	+0.9%
Total assets	8,766	8,524	8,424	+2.8%	+4.1%

Questions

What was Macerich's revenue in Q3 FY2026?

Macerich (MAC) reported revenue of $260 million for Q3 FY2026, the quarter ended 30 September 2026, up 2.7% on the same quarter a year earlier.

How much did Macerich earn in Q3 FY2026?

Net loss for Q3 FY2026 was $17 million, and the diluted loss per share $0.06.

When did Macerich report Q3 FY2026 results?

Macerich filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	229	216	204	211	228	215	212	218	239	209	216	220	274	249	250	253	262	242	250	260
Operating income	-5.4	-12.9	-23.6	-21.4	-8.9	-2.0	-17.4	-13.5	45.8	-23.3	-2.4	-20.0	5.2	-37.2	-30.8	-27.8	-20.0	-36.5	-27.7	-37.8
Operating margin	-2%	-6%	-12%	-10%	-4%	-1%	-8%	-6%	19%	-11%	-1%	-9%	2%	-15%	-12%	-11%	-8%	-15%	-11%	-15%
Interest expense	43.5	51.9	53.2	52.6	59.2	39.4	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	-17.1	-37.2	-15.4	-15.2	1.7	-58.7	-15.0	-263	62.2	-127	252	-108	-211	-50.1	-40.9	-87.4	-18.8	-36.4	-27.1	-16.7
Net margin	-7%	-17%	-8%	-7%	1%	-27%	-7%	-120%	26%	-61%	117%	-49%	-77%	-20%	-16%	-34%	-7%	-15%	-11%	-6%
Diluted EPS	n/a	-$0.17	-$0.07	-$0.07	$0.01	-$0.27	-$0.07	-$1.22	$0.29	-$0.59	$1.16	-$0.50	-$0.89	-$0.20	-$0.16	-$0.34	-$0.07	-$0.14	-$0.10	-$0.06
Operating cash flow	74.7	65.4	50.0	170	52.5	80.7	58.0	107	49.4	61.1	67.4	100	54.9	88.5	70.5	112	50.2	77.4	66.9	109
Capital expenditure	2.6	7.0	10.7	15.0	19.9	14.9	20.5	13.4	25.8	7.3	15.8	19.3	15.9	6.8	10.7	17.8	31.1	28.7	25.1	31.8
Free cash flow	72.1	58.4	39.3	155	32.6	65.9	37.5	94.0	23.6	53.8	51.6	80.7	39.0	81.7	59.8	94.6	19.1	48.7	41.8	77.6
Dividends paid	38.9	41.3	35.4	70.1	39.5	41.8	39.3	39.0	39.2	39.2	41.0	39.8	41.2	50.4	45.7	45.9	46.2	49.0	51.8	51.1
Shares outstanding	215m	215m	215m	215m	215m	215m	216m	216m	216m	216m	216m	226m	253m	253m	253m	256m	257m	261m	284m	284m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	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 its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. 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.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.