Macerich Q1 Profit Declines - Quick Facts

(RTTNews) - The Macerich Company (MAC) reported first-quarter net income attributable to company of $17.8 million or $0.13 per share, compared to $18.1 million or $0.13 per share, previous year. Funds from operations was $121.6 million or $0.81 per share compared to $127.0 million or $0.86 per share, a year ago.

On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $0.85 for the quarter. Analysts' estimates typically exclude special items.

Total revenues from continuing operations increased to $264.51 million from $262.78 million. Minimum rents was $151.63 million, compared to $149.16 million, a year ago. Analysts expected revenue of $149.37 million for the quarter. The company reaffirmed its previously provided earnings per share and FFO per share guidance for 2014. The company continues to expect earnings per share in the range of $0.98-$1.08. FFO per share is expected to be in the range of $3.50-$3.60. Analysts expect the company to report 2014 profit per share of $3.57.