NYSE$VNO
Vornado Realty Trust · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Vornado reported mixed financial results for Q3 2023, with net income increasing but FFO decreasing compared to the prior year's quarter.
Vornado Realty Trust reported a net income of $52.8 million, or $0.28 per diluted share, for the quarter ended September 30, 2023, compared to $7.8 million, or $0.04 per diluted share, for the prior year's quarter. Non-GAAP net income was $12.8 million, or $0.07 per diluted share, compared to $37.4 million, or $0.19 per diluted share, for the prior year's quarter. FFO attributable to common shareholders was $119.5 million, or $0.62 per diluted share, compared to $152.5 million, or $0.79 per diluted share, for the prior year's quarter. Adjusted FFO was $127.2 million, or $0.66 per diluted share, compared to $157.4 million, or $0.81 per diluted share, for the prior year's quarter.
- Net income attributable to common shareholders increased to $52.8 million, or $0.28 per diluted share.
- Non-GAAP net income attributable to common shareholders decreased to $12.8 million, or $0.07 per diluted share.
- FFO attributable to common shareholders plus assumed conversions decreased to $119.5 million, or $0.62 per diluted share.
- Adjusted FFO attributable to common shareholders plus assumed conversions decreased to $127.2 million, or $0.66 per diluted share.
Headline financials
Revenue & EPS history
Vornado · Revenue · Quarterly
$451M
Forward guidance
The press release does not contain specific forward guidance. It mentions potential share repurchases and asset sales, and refers to risk factors in the Annual Report on Form 10-K.
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 2023
-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
| Quarter | Report date | Reaction (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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