Vornado Q4 2019 Earnings Report

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.

Key Takeaways

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.