Vornado Q4 2020 Earnings Report
Key Takeaways
Vornado Realty Trust reported a net loss attributable to common shareholders of $209.1 million, or $1.09 per diluted share, for the quarter ended December 31, 2020, compared to a net income of $193.2 million, or $1.01 per diluted share, for the prior year's quarter. FFO attributable to common shareholders plus assumed conversions was $138.4 million, or $0.72 per diluted share, compared to $311.9 million, or $1.63 per diluted share, for the prior year's quarter. The results were impacted by the COVID-19 pandemic.
Net loss attributable to common shareholders was $209.1 million, or $1.09 per diluted share.
Adjusted non-GAAP net income attributable to common shareholders was $0.957 million, or $0.01 per diluted share.
FFO attributable to common shareholders plus assumed conversions was $138.4 million, or $0.72 per diluted share.
Adjusted non-GAAP FFO attributable to common shareholders plus assumed conversions was $127.2 million, or $0.66 per diluted share.
Vornado
Vornado
Vornado Revenue by Geographic Location
Forward Guidance
The impact of the COVID-19 pandemic on Vornado's financial condition and operating results remains highly uncertain but has been and may continue to be material.
Challenges Ahead
- Lower rental income
- Potentially lower occupancy levels at our properties
- Less cash flow available for operating costs
- Less cash flow available to pay our indebtedness
- Less cash flow available for distribution to our shareholders
Revenue & Expenses
Visualization of income flow from segment revenue to net income