Compared to Estimates, Vornado (VNO) Q1 Earnings: A Look at Key Metrics

Core Insights - Vornado (VNO) reported revenue of $461.58 million for Q1 2025, a year-over-year increase of 5.8%, with an EPS of $0.63 compared to -$0.05 a year ago, exceeding the Zacks Consensus Estimate of $447.91 million by 3.05% and delivering an EPS surprise of 21.15% [1] Financial Performance - Total Property Square Feet in New York: 20,893 Ksq ft, below the average estimate of 21,380.33 Ksq ft [4] - Occupancy in New York (Vornado's share): 83.5%, lower than the average estimate of 86.6% [4] - New York Retail Occupancy: 72.2% compared to the average estimate of 73.2% [4] - New York Office Occupancy: 84.4% versus the average estimate of 85.4% [4] - Total revenues from Other: $85.37 million, exceeding the average estimate of $78.72 million, representing a 9.3% increase year-over-year [4] - Total revenues from New York: $376.21 million, above the average estimate of $369.12 million, reflecting a 5% year-over-year change [4] - Revenue from Fee and Other Income: $56.82 million, slightly below the average estimate of $57.75 million, with a year-over-year increase of 20.7% [4] - Total rental revenues: $404.76 million, surpassing the average estimate of $393.54 million, indicating a 4% year-over-year increase [4] - Fee and Other Income from Management and Leasing Fees: $3.03 million, below the average estimate of $3.13 million, with a 16.1% year-over-year increase [4] - Fee and Other Income from BMS Cleaning Fees: $36.48 million, slightly below the average estimate of $37.84 million, with a 2% year-over-year increase [4] - Fee and Other Income from Other Income: $17.32 million, exceeding the average estimate of $14.63 million, representing a significant year-over-year increase of 98.9% [4] - Total rental revenues from Property Rentals: $348.39 million, above the average estimate of $344.05 million, reflecting a year-over-year change of 3.3% [4] Market Performance - Vornado's shares have returned +12.9% over the past month, outperforming the Zacks S&P 500 composite's +0.4% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]