Vornado (VNO) Reports Q2 Earnings: What Key Metrics Have to Say

Core Insights - Vornado reported $441.44 million in revenue for the quarter ended June 2025, reflecting a year-over-year decline of 2% and a surprise of -3.06% compared to the Zacks Consensus Estimate of $455.38 million [1] - The EPS for the same period was $0.56, which is an increase from $0.18 a year ago, resulting in an EPS surprise of +5.66% against the consensus estimate of $0.53 [1] Financial Performance Metrics - Total Property Square Feet in New York was reported at 20,857.00 Ksq ft, slightly below the average estimate of 20,893.00 Ksq ft [4] - Occupancy rates in New York were 85.2%, exceeding the average estimate of 84.3% [4] - New York Retail occupancy was reported at 67.7%, lower than the average estimate of 72.1% [4] - New York Office occupancy was 86.7%, in line with the average estimate of 86.6% [4] - Total revenues from Other sources were $83.27 million, surpassing the average estimate of $79.58 million, marking a year-over-year increase of +0.7% [4] - Total revenues from New York were $358.17 million, below the average estimate of $376.94 million, representing a -2.6% change year-over-year [4] - Management and Leasing Fees generated $2.93 million, significantly lower than the average estimate of $3.74 million, indicating a -56.4% year-over-year decline [4] - Total revenues from Fee and Other Income were $59.19 million, exceeding the average estimate of $54.81 million, reflecting a +4.4% year-over-year change [4] - BMS Cleaning Fees totaled $37.43 million, slightly above the average estimate of $37.11 million, showing a -2.7% change year-over-year [4] - Other income from Fee and Other Income was $18.83 million, surpassing the average estimate of $15.06 million, with a year-over-year increase of +63.8% [4] - Total rental revenues were reported at $382.25 million, below the average estimate of $400.52 million, indicating a -2.9% change year-over-year [4] - Property rentals generated $332.18 million, lower than the average estimate of $351.66 million, reflecting a -3.4% year-over-year change [4]