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SEC filingQ1 revenue declined 3.1% year-over-year to $241.5M reflecting portfolio changes, while net loss narrowed 27.5% to -$36.4M due to asset sale gains and non-recurring prior-year JV settlements, supporting improved cash generation.
Net cash provided by operating activities reached $77.4 million, down from $88.5 million year-over-year. This reflects typical quarterly working capital fluctuations, yet remains supportive of ongoing operations. The company's expectation to generate positive cash flow in 2026 after recurring operating and leasing capital expenditures, plus dividends, signals confidence in liquidity management.
Overall, these results position The Macerich Company to navigate portfolio transitions while leveraging asset sales and credit enhancements for stability. Management continues to evaluate rental revenue projections, operating costs, capital expenditures, capitalization rates, and holding periods in strategic planning.