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Sep 30, 2023
Vornado Q3 2023 Earnings Report
Vornado reported mixed financial results for Q3 2023, with net income increasing but FFO decreasing compared to the prior year's quarter.
Key Takeaways
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.
Revenue by Geographic Location
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
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Avg. Return Before/After Earnings
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