Filing Flows › Macerich (MAC) › Q1 2026
Macerich (MAC) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Macerich (MAC) reported revenue of $242M for the first quarter 2026 (Q1 2026), -3% from a year earlier and -8% from the quarter before. Operating margin was -15.1%, net loss $36.9M (15.3% of revenue).
Macerich, Q1 2026: revenue $242M (-3% year over year), operating margin -15.1%, net loss $36.9M, operating cash flow $77.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $242M | -8% | -3% |
| Operating profit | −$36.5M | — | — |
| Net earnings | −$36.9M | — | — |
| Operating cash flow | $77.4M | +54% | -13% |
| Free cash flow | $48.7M | +155% | -40% |
What changed
Revenue was $241.5M in Q1 2026, down 3% year over year and down 8% from the previous quarter.
Operating costs exceeded revenue by $36.5M, an operating margin of -15.1%. Total costs fell 3% while revenue fell 3%. The quarter ended with a net loss of $36.9M, wider than the previous quarter's $18.4M loss. Minority interests bore $544K of it: to shareholders the quarter was a loss of $36.4M.
Operating cash flow was $77.4M (down 13% year over year). Non-cash charges added back $86.0M of depreciation and amortization and $5.9M of share-based compensation. Working capital and other items added $22.4M. Capital expenditures of $28.7M left free cash flow of $48.7M.
Questions
What was Macerich's revenue in the first quarter 2026?
Macerich (MAC) reported revenue of $242M for the first quarter 2026 (Q1 2026), -3% from a year earlier and -8% from the quarter before.
Was Macerich profitable in the first quarter 2026?
Operating loss was $36.5M (-15.1% of revenue) and net loss $36.9M.
Source: Macerich 10-Q on SEC EDGAR.