The Macerich Company (NYSE:MAC) Q3 2024 Earnings Conference Call November 5, 2024 11:00 PM ET
Company Participants
Samantha Greening - Director of IR
Jack Hsieh - President, CEO and Director
Doug Healey - SEVP of Leasing
Scott Kingsmore - SEVP, CFO and Treasurer
Conference Call Participants
Jeffrey Spector - Bank of America Securities
Floris van Dijkum - Compass Point
Craig Mailman - Citi.
Samir Khanal - Evercore
Alexander Goldfarb - Piper Sandler
Michael Mueller - JPMorgan
Linda Tsai - Jefferies
Caitlin Burrows - Goldman Sachs
Haendel St Juste - Mizuho
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the Third Quarter 2024 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]. Please be advised that, today's conference is being recorded.
I would like now to turn the conference over to Samantha Greening, Director of Investor Relations. Please go ahead.
Samantha Greening
Thank you for joining us on our third quarter 2024 earnings call.
During the course of this call, we will 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, and 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.
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 on the Investors section of the company's website at macerich.com.
Joining us today are Jack Hsieh, President and Chief Executive Officer; Scott Kingsmore, Senior Executive Vice President and Chief Financial Officer; and Doug Healey, Senior Executive Vice President of Leasing.
With that, I turn the call over to Jack.
Jack Hsieh
Thank you, Samantha, and good day, everyone.
Before commenting on the third quarter, I would like to briefly discuss the change in Scott Kingsmore role at Macerich. Scott has been with Macerich for 29 years and has provided valued service across a variety of roles within the company. I'd like to thank Scott for those many contributions to Macerich over the years and for helping in my transition.
Scott was invaluable to me in designing our Path Forward plan. He will be missed by all of us. Dan Swanstrom, who I have worked with for many years, when we were both former investment bankers in Morgan Stanley's Real Estate Group, will be joining Macerich, as our new EVP and CFO. Dan's banking experience and two CFO roles will bring valued perspective to Macerich as we continue to execute on our Path Forward strategy. We will be incurring severance charges in the fourth quarter related to Scott and two other senior executives that will result in a $0.02 reduction to our fourth quarter earnings.