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Compared to Estimates, Vornado (VNO) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2023, Vornado (VNO - Free Report) reported revenue of $472.36 million, up 4.2% over the same period last year. EPS came in at $0.72, compared to $0.19 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $440.34 million, representing a surprise of +7.27%. The company delivered an EPS surprise of +12.50%, with the consensus EPS estimate being $0.64.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Vornado performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Property Square Feet - New York - Vornado's Ownership Interest: 20894 Ksq ft compared to the 20883 Ksq ft average estimate based on two analysts.
Total revenues- Other: $109.89 million compared to the $83.10 million average estimate based on two analysts. The reported number represents a change of +23% year over year.
Total Revenues- New York: $362.47 million versus the two-analyst average estimate of $354.50 million. The reported number represents a year-over-year change of -0.5%.
Revenue- Fee and other income: $53.53 million versus $45.71 million estimated by seven analysts on average.
Total revenues- Fee and Other Income- Other income: $14.72 million compared to the $11.19 million average estimate based on six analysts. The reported number represents a change of +28.7% year over year.
Total revenues- Fee and Other Income- BMS Cleaning Fees: $35.15 million versus $35.10 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.4% change.
Total revenues- Fee and Other Income- Management and Leasing Fees: $3.66 million versus $2.90 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +27.6% change.
Revenue- Total rental revenues: $418.83 million versus $396.39 million estimated by five analysts on average.
Total revenues- Total rental revenues- Straight-lining of rents: $4.52 million compared to the $2.90 million average estimate based on four analysts.
Total revenues- Total rental revenues- Property rentals: $365.22 million versus the four-analyst average estimate of $346.30 million. The reported number represents a year-over-year change of +5.7%.
Total revenues- Total rental revenues- Amortization of acquired below-market leases, net: $1.36 million compared to the $1.35 million average estimate based on four analysts.
Total revenues- Total rental revenues- New York: $316.70 million compared to the $312.35 million average estimate based on three analysts.
Shares of Vornado have returned +22.1% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Vornado (VNO) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Vornado (VNO - Free Report) reported revenue of $472.36 million, up 4.2% over the same period last year. EPS came in at $0.72, compared to $0.19 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $440.34 million, representing a surprise of +7.27%. The company delivered an EPS surprise of +12.50%, with the consensus EPS estimate being $0.64.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Vornado performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Property Square Feet - New York - Vornado's Ownership Interest: 20894 Ksq ft compared to the 20883 Ksq ft average estimate based on two analysts.
- Total revenues- Other: $109.89 million compared to the $83.10 million average estimate based on two analysts. The reported number represents a change of +23% year over year.
- Total Revenues- New York: $362.47 million versus the two-analyst average estimate of $354.50 million. The reported number represents a year-over-year change of -0.5%.
- Revenue- Fee and other income: $53.53 million versus $45.71 million estimated by seven analysts on average.
- Total revenues- Fee and Other Income- Other income: $14.72 million compared to the $11.19 million average estimate based on six analysts. The reported number represents a change of +28.7% year over year.
- Total revenues- Fee and Other Income- BMS Cleaning Fees: $35.15 million versus $35.10 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.4% change.
- Total revenues- Fee and Other Income- Management and Leasing Fees: $3.66 million versus $2.90 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +27.6% change.
- Revenue- Total rental revenues: $418.83 million versus $396.39 million estimated by five analysts on average.
- Total revenues- Total rental revenues- Straight-lining of rents: $4.52 million compared to the $2.90 million average estimate based on four analysts.
- Total revenues- Total rental revenues- Property rentals: $365.22 million versus the four-analyst average estimate of $346.30 million. The reported number represents a year-over-year change of +5.7%.
- Total revenues- Total rental revenues- Amortization of acquired below-market leases, net: $1.36 million compared to the $1.35 million average estimate based on four analysts.
- Total revenues- Total rental revenues- New York: $316.70 million compared to the $312.35 million average estimate based on three analysts.
View all Key Company Metrics for Vornado here>>>Shares of Vornado have returned +22.1% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.