NYSE$VNO

Vornado Realty Trust · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Reported financial results for the fourth quarter of 2019, showing increased net income and FFO, but decreases in adjusted net income and adjusted FFO due to specific expenses.

Vornado Realty Trust reported a net income attributable to common shareholders of $193.2 million, or $1.01 per diluted share, for Q4 2019, compared to $100.5 million, or $0.53 per diluted share, for the prior year's quarter. Non-GAAP net income attributable to common shareholders was $56.4 million, or $0.29 per diluted share, compared to $49.4 million, or $0.26 per diluted share, for the prior year's quarter. FFO attributable to common shareholders plus assumed conversions was $311.9 million, or $1.63 per diluted share, compared to $210.1 million, or $1.10 per diluted share, for the prior year's quarter. Adjusted FFO attributable to common shareholders plus assumed conversions was $171.0 million, or $0.89 per diluted share, compared to $169.9 million, or $0.89 per diluted share, for the prior year's quarter.

  • Net income attributable to common shareholders increased to $193.2 million, or $1.01 per diluted share.
  • Non-GAAP net income attributable to common shareholders increased to $56.4 million, or $0.29 per diluted share.
  • FFO attributable to common shareholders plus assumed conversions increased to $311.9 million, or $1.63 per diluted share.
  • Adjusted FFO attributable to common shareholders plus assumed conversions increased to $171.0 million, or $0.89 per diluted share.

Headline financials

Total Revenue

$461M

Previous: $543M-15.2%
EPS (adj)

$0.89

Previous: $0.90-1.1%
New York Office Occupancy

7.1%

No prior period
THE MART Occupancy

114.3%

No prior period
555 California Street Occupancy

3.3%

No prior period
Net Income

$161M

Previous: $113M+42.2%
Operating Income

$161M

Previous: $135M+19.3%
Gross Profit

$237M

Previous: $289M-18.0%
Cash & Equivalents

$1.52B

Previous: $571M+165.4%
Total Assets

$18.3B

Previous: $17.2B+6.4%
Stock-Based Comp

$5.86M

Previous: $5.53M+6.0%

Revenue & EPS history

Vornado · Revenue · Quarterly

$461M

Q4 2019-15.2%vs Q4 2018
Beat estimate in 5 of 16 quarters(31%)
ActualEstimate

Forward guidance

Vornado Realty Trust provided no forward guidance in this earnings report.

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 Q4 2019

Historical avgQ4 2019

-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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