Why did MAC's earnings surge in late 2024?

Macerich's earnings surged in late 2024 due to several key factors:

1. Revenue Beat Expectations: Macerich reported revenue of $273.68 million for the fourth quarter, surpassing the expected $221.73 million. This significant revenue outperformance indicates strong operational performance and market demand for its services.
2. Leasing Activity and Spread Increases: The company has seen double-digit increases in trailing 12-month base rent leasing spreads for the third consecutive quarter. This suggests that Macerich is successful in attracting tenants and increasing rental rates, which is a positive indicator for its earnings.
3. Strategic Progress and Path Forward Plan: Macerich has been executing its Path Forward Plan, which includes simplifying its business, improving operational performance, and reducing leverage. These strategic initiatives are likely contributing to improved efficiency and profitability.
4. CEO's Significant Stock Purchase: The purchase of 56,000 shares by CEO Jackson Hsieh at a price of $17.747 each, totaling $993,832, demonstrates confidence in the company's future. Such insider purchases can boost investor confidence and positively influence the company's financial performance.

In conclusion, Macerich's earnings surge in late 2024 can be attributed to a combination of revenue outperformance, strategic initiatives, and positive market conditions.