The Macerich Company (NYSE:MAC) Q2 2023 Earnings Conference Call August 8, 2023 1:00 PM ET

Company Participants

Samantha Greening - Investor Relations

Tom O’Hern - Chief Executive Officer

Scott Kingsmore - Senior Executive Vice President and Chief Financial Officer

Doug Healey - Senior Executive Vice President, Leasing

Conference Call Participants

Viktor Fediv - Scotiabank

Lizzy Doykan - Bank of America

Sanket Agrawal - Evercore

Floris van Dijkum - Compass Point

Linda Tsai - Jefferies

Alexander Goldfarb - Piper Sandler

Hongliang Zhang - JPMorgan

Ki Bin Kim - Truist

Ravi Vaidya - Mizuho

Caitlin Burrows - Goldman Sachs

Craig Mailman - Citi

Ronald Kamdem - Morgan Stanley

Greg McGinnis - Scotiabank

Operator

Good day, ladies and gentlemen. Thank you for standing by. Welcome to the Second Quarter 2023 Macerich Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator instructions] Again, please be advised that today’s conference is being recorded.

I would now like to hand the conference over to your speaker today, Samantha Greening, Director of Investor Relations. Please go ahead.

Samantha Greening

Thank you for joining us on our second quarter 2023 earnings call. During the course of this call, we’ll be making certain statements that may be deemed forward-looking within the meaning of the safe harbor of the Private Securities Litigation Reform Act of 1995, including statements regarding projections, plans, or future expectations. Actual results may differ materially due to a variety of risks and uncertainties set forth in today’s press release and our SEC filings, including the adverse impact of the coronavirus on the U.S. regional and global economies and the financial conditions and results of operations of the company and its tenants.

Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included in the earnings release and supplemental filed on Form 8-K with the SEC, which are posted in the investors section of the company’s website at macerich.com.

Joining us today are Tom O’Hern, Chief Executive Officer; Scott Kingsmore, Senior Executive Vice President and Chief Financial Officer; and Doug Healey, Senior Executive Vice President of Leasing.

And with that, I turn the call over to Tom.

Tom O’Hern

Thank you, Samantha. It was yet again another strong quarter for us. Leasing volumes continued at a record level. We had an 80 basis-point gain in occupancy compared to a year ago and 40 basis-point gain compared to last quarter.