MAC MACERICH (MAC) Q1 FY26 earnings call
Macerich reported Q1 FY26 results reflecting strong progress on its Path Forward plan, highlighted by significant leasing momentum and the strategic acquisition of Annapolis Mall. The company is nearing completion of its 1,000-unit leasing target, driving a substantial SNO pipeline that is expected to fuel NOI growth through 2028. Management expressed high confidence in achieving its 2028 operational and financial targets, emphasizing the resilience and relevance of Class A regional malls and the positive impact of Gen Z shoppers.
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MAC operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Occupancy rate | 93.4%Occupancy at the end of the first quarter was 93.4%, down 60 basis points sequentially.Source: earnings call transcript | 94%Occupancy at the end of the second quarter was 94%, up 60 basis points from the first quarter.Source: earnings call transcript | +0.6 pt |
| Occupancy rate Go-forward portfolio | 94.5%The go-forward portfolio occupancy at the end of the first quarter was 94.5%, reflecting strong underlying demand for space in our best centers.Source: earnings call transcript | 95.5%The go-forward portfolio occupancy at the end of the second quarter was 95.5%, and that's up 60 basis points sequentially and up 270 basis points year-over-year, continuing to reflect strong demand for space in our best centers.Source: earnings call transcript | +1 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.