Macerich (MAC) Misses Q4 EPS by 21c, Revenues Miss; Offers FY19 EPS Guidance Below Consensus

Macerich (NYSE: MAC) reported Q4 EPS of $0.08, $0.21 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $246.87 million versus the consensus estimate of $251 million.

"It was a good quarter with strong occupancy levels, good tenant sales growth and improved same center earnings growth," said the Company's Chief Executive Officer, Tom O'Hern. "As we enter 2019, we have extensive development opportunities in front of us with many well-situated projects already underway or recently announced. Although some headwinds remain as we work through recent tenant bankruptcies that will impact 2019, generally the leasing environment continues to improve."

GUIDANCE:

Macerich sees FY2019 EPS of $0.33-$0.41, versus the consensus of $0.65.

For earnings history and earnings-related data on Macerich (MAC) click here.

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