Compared to Estimates, Vornado (VNO) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Vornado (VNO) reported revenue of $451 million, down 1.4% over the same period last year. EPS came in at $0.66, compared to $0.04 in the year-ago quarter.
The reported revenue represents a surprise of -1.96% over the Zacks Consensus Estimate of $459.99 million. With the consensus EPS estimate being $0.66, the company has not delivered EPS surprise.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 20,890 Ksq ft versus 20,894 Ksq ft estimated by two analysts on average.
Total revenues- Other: $86.23 million versus the two-analyst average estimate of $91.79 million. The reported number represents a year-over-year change of -11.5%.
Total Revenues- New York: $364.77 million compared to the $354.39 million average estimate based on two analysts. The reported number represents a change of +1.3% year over year.
Total revenues- Fee and Other Income- Other income: $11.94 million compared to the $12.34 million average estimate based on six analysts. The reported number represents a change of +11.6% year over year.
Revenue- Fee and other income: $50.63 million versus the six-analyst average estimate of $51.32 million. The reported number represents a year-over-year change of +4.9%.
Total revenues- Fee and Other Income- BMS Cleaning Fees: $35.43 million versus $35.18 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +1% change.
Total revenues- Fee and Other Income- Management and Leasing Fees: $3.26 million compared to the $3.15 million average estimate based on six analysts. The reported number represents a change of +28.9% year over year.
Revenue- Total rental revenues: $400.37 million versus the five-analyst average estimate of $398.69 million. The reported number represents a year-over-year change of -2.2%.
Total revenues- Total rental revenues- New York: $319.46 million versus $311.20 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.7% change.
Total revenues- Total rental revenues- Straight-lining of rents: $4.08 million compared to the $1.97 million average estimate based on three analysts. The reported number represents a change of -55.5% year over year.
Total revenues- Total rental revenues- Property rentals: $341.74 million versus the three-analyst average estimate of $351.07 million. The reported number represents a year-over-year change of -4.2%.
Total revenues- Total rental revenues- Amortization of acquired below-market leases, net: $1.36 million versus the three-analyst average estimate of $1.35 million. The reported number represents a year-over-year change of -2%.
View all Key Company Metrics for Vornado here>>>
Shares of Vornado have returned -13.9% over the past month versus the Zacks S&P 500 composite's -3.6% 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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Vornado Realty Trust (VNO) : Free Stock Analysis Report
