Vornado (VNO) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates

Core Insights - Vornado reported revenue of $457.79 million for the quarter ended December 2024, marking a year-over-year increase of 3.6$0.61, a significant increase from $0.04 a year ago, representing a surprise of 19.61$0.51 [1] Financial Performance Metrics - Vornado's shares have returned +13.8% over the past month, outperforming the Zacks S&P 500 composite's +2.1% change [3] - Occupancy rates in New York were reported at 87.6%, slightly above the average estimate of 86.8% [4] - New York retail occupancy was at 73.7%, below the average estimate of 78.6% [4] - Total property square footage in New York was reported at 20,916 Ksq ft, matching the average estimate [4] - New York office occupancy was reported at 88.8%, exceeding the average estimate of 87.8% [4] Revenue Breakdown - Total revenues from New York amounted to $383.70 million, surpassing the average estimate of$360.80 million, reflecting a year-over-year change of +6.3% [4] - Total rental revenues were reported at $398.46 million, slightly above the average estimate of$394.79 million, with a year-over-year increase of +1.8% [4] - Fee and other income totaled $59.33 million, exceeding the average estimate of$53 million, representing a year-over-year increase of +17.7% [4] - Management and leasing fees generated $2.52 million, below the average estimate of$3.30 million, indicating a year-over-year decline of -18% [4] - Other income from fee and other income was reported at $19.60 million, significantly above the average estimate of$11.95 million, showing a year-over-year increase of +73.6% [4]