Macerich Co. Reveals 29% Advance In Q3 Earnings

(RTTNews) - Macerich Co. (MAC) reported a profit for its third quarter that advanced from last year.

The company said its bottom line climbed to $170.71 million, or $1.01 per share. This was up from $132.57 million, or $0.88 per share, in last year's third quarter.

Analysts had expected the company to earn $0.98 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 23.8% to $326.26 million. This was up from $263.49 million last year.

Macerich Co. earnings at a glance:

-Earnings (Q3): $170.71 Mln. vs. $132.57 Mln. last year. -Earnings Growth (Y-o-Y): 28.8% -EPS (Q3): $1.01 vs. $0.88 last year. -EPS Growth (Y-o-Y): 14.8% -Analysts Estimate: $0.98 -Revenue (Q3): $326.26 Mln vs. $263.49 Mln last year. -Revenue Change (Y-o-Y): 23.8%

-Guidance: Full year EPS guidance: $3.86 - $3.94