NYSE$VNO

Vornado Realty Trust · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Vornado's financial performance remained relatively stable, with slight decreases in net income and FFO compared to the previous year. The company focused on strategic dispositions and refinancings to optimize its portfolio and capital structure.

Vornado Realty Trust reported net income of $7.8 million, or $0.04 per diluted share, and non-GAAP net income of $37.4 million, or $0.19 per diluted share, for the quarter ended September 30, 2022. FFO was $152.5 million, or $0.79 per diluted share, and non-GAAP FFO was $157.4 million, or $0.81 per diluted share.

  • Net income attributable to common shareholders was $7.8 million, or $0.04 per diluted share.
  • Non-GAAP net income was $37.4 million, or $0.19 per diluted share.
  • FFO attributable to common shareholders plus assumed conversions was $152.5 million, or $0.79 per diluted share.
  • Non-GAAP FFO was $157.4 million, or $0.81 per diluted share.

Headline financials

Total Revenue

$457M

Previous: $409M+11.8%
EPS (adj)

$0.81

Previous: $0.71+14.1%
New York Office Occupancy

167000.0%

No prior period
THE MART Occupancy

67000.0%

Previous: 6431000.0%-99.0%
555 California Street Occupancy

154000.0%

Previous: 16128000.0%-99.0%
Capital Expenditures

-$680M

Previous: -$561M-21.2%
Free Cash Flow

-$657M

Previous: -$497M-32.0%
Net Income

$23.3M

Previous: $63.5M-63.3%
Operating Income

$71.7M

Previous: $59.6M+20.3%
Gross Profit

$236M

Previous: $197M+20.0%
Cash & Equivalents

$845M

Previous: $2.13B-60.3%
Total Assets

$17.2B

Previous: $17.5B-1.8%
Stock-Based Comp

$3.89M

Previous: $5.51M-29.5%

Revenue & EPS history

Vornado · Revenue · Quarterly

$457M

Q3 2022+11.8%vs Q3 2021
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Forward guidance

No specific forward guidance was provided in the press release.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

-0.2%

Avg return

Earnings day

+0.7%

Avg return

5 days after

-0.1%

Avg return

30 days after

50%

36 / 72 earnings

Positive

+10.7%

Q3 2020

Best reaction

-7.7%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.2%+8.5%+17.8%
Q4 2025+2.7%-3.5%-16.0%
Q3 2025-4.8%-1.4%-6.0%
Q1 2025+3.5%+5.2%+5.8%
Q4 2024+0.8%-0.1%-16.5%
Q3 2024+3.7%+11.0%+6.2%
Q2 2024+7.8%+8.8%+18.2%
Q1 2024-7.7%-7.7%-8.2%
Q4 2023-6.6%-1.4%-1.7%
Q3 2023-1.7%+18.1%+21.7%
Q2 2023+1.7%+2.6%+8.2%
Q1 2023-7.2%-5.3%-9.7%
Q4 2022-0.3%+6.1%-16.3%
Q3 2022-2.6%-2.8%+6.3%
Q2 2022-3.4%-9.0%-13.7%
Q1 2022+0.0%-6.3%-12.6%
Q4 2021+5.5%+7.7%+9.6%
Q3 2021+0.9%+4.6%-8.1%
Q2 2021-2.3%-1.8%-1.7%
Q1 2021+3.7%+0.6%+8.2%
Q4 2020-3.3%+8.8%+28.5%
Q3 2020+10.7%-1.2%+29.3%
Q2 2020+4.4%+3.0%+3.5%
Q1 2020-7.5%-6.2%-1.7%
Q4 2019-5.2%-8.0%-56.2%
Q3 2019+1.4%+1.1%+0.3%
Q2 2019+0.9%-1.7%-6.9%
Q1 2019-1.0%-3.7%-4.9%
Q4 2018-1.9%-1.8%-2.3%
Q3 2018+1.4%-0.3%+5.3%
Q2 2018+2.2%+2.4%+9.3%
Q1 2018+3.4%+2.6%+2.3%
Q4 2017-0.3%-0.0%+0.8%
Q3 2017+2.7%+0.5%+5.5%
Q2 2017+0.7%+0.6%-6.0%
Q1 2017+0.1%-0.6%-4.2%
Q4 2016+2.4%+3.1%-1.6%
Q3 2016-0.7%-3.3%+7.2%
Q2 2016-2.1%-2.4%-3.8%
Q1 2016-1.1%
Q4 2015+1.8%
Q3 2015+0.2%
Q2 2015-0.9%
Q1 2015-3.6%
Q4 2014+0.9%
Q3 2014+1.5%
Q2 2014+0.0%
Q1 2014+0.2%
Q4 2013-0.1%
Q3 2013+0.6%
Q2 2013+0.8%
Q1 2013-0.1%
Q4 2012-0.5%
Q3 2012+0.9%
Q2 2012-2.4%
Q1 2012+2.1%
Q4 2011-2.9%
Q3 2011-0.3%
Q2 2011-6.4%
Q1 2011-1.8%
Q4 2010-1.5%
Q3 2010+0.7%
Q2 2010-1.3%
Q1 2009-4.1%
Q1 2010-4.1%
Q4 2009-0.6%
Q4 2007-0.6%
Q3 2008+0.1%
Q3 2009+0.1%
Q2 2008+0.8%
Q2 2009+0.8%
Q4 2008+0.8%

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