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Jun 30, 2024
Vornado Q2 2024 Earnings Report
Vornado's financial performance remained steady with slight variations across different segments and strategic financial activities.
Key Takeaways
Vornado Realty Trust reported a net income of $35.26 million for Q2 2024, with FFO at $148.94 million. The company executed several strategic financing activities, including refinancing and extending credit facilities. Leasing activity showed positive mark-to-market rents in New York Office and Retail spaces, while THE MART experienced negative mark-to-market rent changes. Same-store NOI decreased overall, with significant declines at 555 California Street.
Net income attributable to common shareholders was $35.26 million, or $0.18 per diluted share.
FFO attributable to common shareholders plus assumed conversions was $148.94 million, or $0.76 per diluted share.
Leasing activity included 1,322,000 square feet of New York Office space and 4,000 square feet of New York Retail space.
Strategic financing activities included refinancing 435 Seventh Avenue and extending an unsecured revolving credit facility.
Revenue by Geographic Location
Forward Guidance
Vornado will host a quarterly earnings conference call and an audio webcast on Tuesday, August 6, 2024, at 10:00 a.m. Eastern Time (ET).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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