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Vornado Realty (VNO)
NYSE:VNO
Earnings Data
Report Date
May 05, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.12Last Year’s EPS
-0.05Same Quarter Last Year
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 10, 2025
|% Change Since: -8.47%
|Next Earnings Date:May 05, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected strong performance in leasing and strategic debt management, particularly in New York, alongside challenges such as declining FFO and high construction costs. The focus on leasing successes and long-term growth suggests cautious optimism, despite short-term financial challenges.Company Guidance
During the Vornado Realty Trust Fourth Quarter 2024 Earnings Conference Call, the management provided several metrics and guidance points. Steven Roth expressed optimism about the New York real estate market, highlighting a 10.7% availability in premium office space, compared to 20.1% in lower-tier markets, with expectations for rent increases. Vornado’s stock price rose by 49% in 2024 following a 35% rise in 2023. The company leased 3.34 million square feet in 2024, including 2.65 million square feet in New York offices at $104 starting rents, experiencing a 2.5% cash and 10.9% GAAP mark-to-market increase. The company also achieved 100% LEED certification across its portfolio. Michael Franco discussed financial performance, noting a comparable FFO of $2.26 per share for 2024, with expectations for a slight decrease in 2025 due to lease termination income impacting 2024 results. Office occupancy increased to 88.8%, with projections to reach the low 90s in 2025. The company anticipates significant earnings growth by 2027, driven by leasing activities and market conditions.Significant Leasing Activity in New York
Leased 3.34 million square feet overall in 2024, with 2.65 million square feet in New York office at market-leading $104 starting rents, marking a 49% stock price increase in 2024 after a 35% increase in 2023.
Strong Performance at Penn Two
Penn Two is expected to reach 80% leased by year-end with rents above underwriting. Penn Two's incremental yield increased to 10.2%.
Debt Management Achievements
Repaid $450 million unsecured bonds and expect to relieve the balance sheet of $700 million of debt with the master lease to NYU at 770 Broadway.
LEED Certification Milestone
Entire portfolio is 100% LEED certified, marking Vornado as the first simulation to achieve this milestone.
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VNO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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VNO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 10, 2025 | $42.37 | $42.69 | +0.76% |
| Nov 04, 2024 | $41.22 | $42.04 | +1.99% |
| Aug 05, 2024 | $26.82 | $30.21 | +12.64% |
| May 06, 2024 | $26.19 | $23.81 | -9.09% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Vornado Realty (VNO) report earnings?
Vornado Realty (VNO) is schdueled to report earning on May 05, 2025, TBA Not Confirmed.
What is Vornado Realty (VNO) earnings time?
Vornado Realty (VNO) earnings time is at May 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VNO EPS forecast?
VNO EPS forecast for the fiscal quarter 2025 (Q1) is 0.12.
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