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Compared to Estimates, Vornado (VNO) Q1 Earnings: A Look at Key Metrics
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Vornado (VNO - Free Report) reported $436.38 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.1%. EPS of $0.55 for the same period compares to $0.01 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $451.07 million, representing a surprise of -3.26%. The company delivered an EPS surprise of -5.17%, with the consensus EPS estimate being $0.58.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 21,065 Ksq ft versus the two-analyst average estimate of 21,066 Ksq ft.
Total revenues- Other: $78.14 million versus the three-analyst average estimate of $83.58 million. The reported number represents a year-over-year change of -4.8%.
Total revenues- New York: $358.23 million compared to the $360.01 million average estimate based on two analysts. The reported number represents a change of -1.5% year over year.
Revenue- Fee and other income: $47.10 million compared to the $50.07 million average estimate based on seven analysts. The reported number represents a change of -4.1% year over year.
Revenue- Total rental revenues: $389.28 million compared to the $393.39 million average estimate based on six analysts. The reported number represents a change of -1.9% year over year.
Total revenues- Fee and Other Income- Other income: $8.71 million versus the six-analyst average estimate of $10.97 million. The reported number represents a year-over-year change of -19%.
Total revenues- Fee and Other Income- BMS Cleaning Fees: $35.78 million versus $35.63 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +1.3% change.
Total revenues- Fee and Other Income- Management and Leasing Fees: $2.61 million versus the six-analyst average estimate of $3.24 million. The reported number represents a year-over-year change of -14.4%.
Total revenues- Total rental revenues- Straight-lining of rents: $4.57 million versus $3.14 million estimated by four analysts on average.
Total revenues- Total rental revenues- Property rentals: $337.38 million versus the four-analyst average estimate of $342.12 million. The reported number represents a year-over-year change of -1.7%.
Total revenues- Total rental revenues- Amortization of acquired below-market leases, net: $0.69 million versus the four-analyst average estimate of $1.28 million. The reported number represents a year-over-year change of -49.3%.
Total revenues- Total rental revenues- New York: $311.74 million versus the three-analyst average estimate of $316.70 million. The reported number represents a year-over-year change of -2.4%.
Shares of Vornado have returned -4.1% over the past month versus the Zacks S&P 500 composite's -1.6% 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) Q1 Earnings: A Look at Key Metrics
Vornado (VNO - Free Report) reported $436.38 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.1%. EPS of $0.55 for the same period compares to $0.01 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $451.07 million, representing a surprise of -3.26%. The company delivered an EPS surprise of -5.17%, with the consensus EPS estimate being $0.58.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 21,065 Ksq ft versus the two-analyst average estimate of 21,066 Ksq ft.
- Total revenues- Other: $78.14 million versus the three-analyst average estimate of $83.58 million. The reported number represents a year-over-year change of -4.8%.
- Total revenues- New York: $358.23 million compared to the $360.01 million average estimate based on two analysts. The reported number represents a change of -1.5% year over year.
- Revenue- Fee and other income: $47.10 million compared to the $50.07 million average estimate based on seven analysts. The reported number represents a change of -4.1% year over year.
- Revenue- Total rental revenues: $389.28 million compared to the $393.39 million average estimate based on six analysts. The reported number represents a change of -1.9% year over year.
- Total revenues- Fee and Other Income- Other income: $8.71 million versus the six-analyst average estimate of $10.97 million. The reported number represents a year-over-year change of -19%.
- Total revenues- Fee and Other Income- BMS Cleaning Fees: $35.78 million versus $35.63 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +1.3% change.
- Total revenues- Fee and Other Income- Management and Leasing Fees: $2.61 million versus the six-analyst average estimate of $3.24 million. The reported number represents a year-over-year change of -14.4%.
- Total revenues- Total rental revenues- Straight-lining of rents: $4.57 million versus $3.14 million estimated by four analysts on average.
- Total revenues- Total rental revenues- Property rentals: $337.38 million versus the four-analyst average estimate of $342.12 million. The reported number represents a year-over-year change of -1.7%.
- Total revenues- Total rental revenues- Amortization of acquired below-market leases, net: $0.69 million versus the four-analyst average estimate of $1.28 million. The reported number represents a year-over-year change of -49.3%.
- Total revenues- Total rental revenues- New York: $311.74 million versus the three-analyst average estimate of $316.70 million. The reported number represents a year-over-year change of -2.4%.
View all Key Company Metrics for Vornado here>>>Shares of Vornado have returned -4.1% over the past month versus the Zacks S&P 500 composite's -1.6% 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.