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Vornado (VNO) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

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For the quarter ended June 2026, Vornado (VNO - Free Report) reported revenue of $462.24 million, up 4.7% over the same period last year. EPS came in at $0.67, compared to $3.70 in the year-ago quarter.

The reported revenue represents a surprise of -2.16% over the Zacks Consensus Estimate of $472.44 million. With the consensus EPS estimate being $0.57, the EPS surprise was +17.54%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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:
  • Occupancy (At Vornado's share) - New York: 90.8% compared to the 90.9% average estimate based on three analysts.
  • Total Property Square Feet - New York - Vornado's Ownership Interest: 21,229.00 Ksq ft versus 20,760.00 Ksq ft estimated by two analysts on average.
  • Revenue- Total rental revenues: $405.07 million versus $403.78 million estimated by seven analysts on average.
  • Revenue- Fee and other income: $57.17 million compared to the $64.17 million average estimate based on seven analysts. The reported number represents a change of -3.4% year over year.
  • Total revenues- Fee and Other Income- Management and Leasing Fees: $2.66 million versus $2.92 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -9.2% change.
  • Total revenues- Property rentals- Tenant Expense Reimbursements: $46.28 million versus the five-analyst average estimate of $44.36 million. The reported number represents a year-over-year change of +33.9%.
  • Total revenues- Fee and Other Income- Other income: $21.17 million versus $19.64 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +12.4% change.
  • Total revenues- Fee and Other Income- BMS Cleaning Fees: $33.34 million compared to the $39.5 million average estimate based on five analysts. The reported number represents a change of -10.9% year over year.
  • Total revenues- Total rental revenues- Straight-lining of rents: $26.3 million compared to the $24.7 million average estimate based on four analysts. The reported number represents a change of +70.7% year over year.
  • Total revenues- Total rental revenues- Property rentals: $332.36 million versus the four-analyst average estimate of $325.56 million. The reported number represents a year-over-year change of +0.1%.
  • Total revenues- Total rental revenues- Amortization of acquired below-market leases, net: $0.14 million compared to the $0.24 million average estimate based on four analysts. The reported number represents a change of +40.6% year over year.
  • Total revenues- Fee and other income- Other: $4.68 million compared to the $3.75 million average estimate based on two analysts. The reported number represents a change of +6.2% year over year.

View all Key Company Metrics for Vornado here>>>

Shares of Vornado have returned -2.9% over the past month versus the Zacks S&P 500 composite's +0.2% 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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