Filing Flows › Macerich (MAC) › Q2 2025
Macerich (MAC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 11, 2025
Macerich (MAC) reported revenue of $250M for the second quarter 2025 (Q2 2025), +16% from a year earlier and +0.2% from the quarter before. Operating margin was -12.3%, net loss $41.5M (16.6% of revenue).
Macerich, Q2 2025: revenue $250M (+16% year over year), operating margin -12.3%, net loss $41.5M, operating cash flow $70.5M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $250M | +0.2% | +16% |
| Operating profit | −$30.8M | — | — |
| Net earnings | −$41.5M | — | — |
| Operating cash flow | $70.5M | -20% | +5% |
| Free cash flow | $59.8M | -27% | +16% |
What changed
Revenue was $249.8M in Q2 2025, up 16% year over year and roughly flat from the previous quarter.
Operating costs exceeded revenue by $30.8M, an operating margin of -12.3%. Total costs grew 29% against revenue growth of 16%. The fastest-growing cost line was Other operating costs (+29%). The quarter ended with a net loss of $41.5M, narrower than the previous quarter's $51.2M loss. Minority interests bore $639K of it: to shareholders the quarter was a loss of $40.9M.
Operating cash flow was $70.5M (up 5% year over year). Non-cash charges added back $91.2M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items added $15.6M. Capital expenditures of $10.7M left free cash flow of $59.8M.
Questions
What was Macerich's revenue in the second quarter 2025?
Macerich (MAC) reported revenue of $250M for the second quarter 2025 (Q2 2025), +16% from a year earlier and +0.2% from the quarter before.
Was Macerich profitable in the second quarter 2025?
Operating loss was $30.8M (-12.3% of revenue) and net loss $41.5M.
Source: Macerich 10-Q on SEC EDGAR.