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VNO

Vornado Realty Trust·NYSE
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VNO fundamentals

Vornado Realty Trust (VNO) released its earnings on Feb 9, 2026: revenue was 453.71M (YoY -0.89%), beat estimates; EPS was 0 (YoY -100.00%), missed estimates.
Revenue / YoY
453.71M
-0.89%
EPS / YoY
0
-100.00%
Report date
Feb 9, 2026
VNO Earnings Call Summary for Q4,2025
  • Record Leasing Momentum: 4.6M sq ft leased in Manhattan, 2.5M sq ft at $100+ per sq ft. PENN 2 occupancy jumps to 80% with 11.6% yield upgrade.
  • Strategic Developments: 350 Park Avenue construction starts Q2 2026; 623 Fifth Avenue acquisition for $218M to be redeveloped into premium office space.
  • Balance Sheet Strength: $2.39B liquidity, 7.7x net debt/EBITDA, S&P upgrades credit outlook. $3.5B debt refinanced in 2025.
  • Earnings Growth Path: 2027 FFO expected to benefit from PENN 1/2 lease-up, with 623 Fifth Avenue potentially adding $0.11 per share.
  • Share Buybacks: $109M spent since 2023. CEO vows to be more aggressive if stock remains undervalued.
EPS
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Q1,2020
Q2,2020
Q3,2020
Q4,2020
Q1,2021
Q2,2021
Q3,2021
Q4,2021
Q1,2022
Q2,2022
Q3,2022
Q4,2022
Q1,2023
Q2,2023
Q3,2023
Q4,2023
Q1,2024
Q2,2024
Q3,2024
Q4,2024
Q1,2025
Q2,2025
Q3,2025
Q4,2025
Actual
0.11-0.04-0.090.010.060.140.140.120.160.190.190.10.010.140.280.04-0.050.18-0.10.010.433.70.060
Forecast
0.150.40610.8529-0.07480.08330.20560.25470.26970.09390.17730.11770.0445-0.05430.09540.0650.0071-0.018-0.0612-0.052-0.02130.09110.12160.01830.03
Surprise
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
-26.67%
-109.85%
-110.55%
+113.37%
-27.97%
-31.91%
-45.03%
-55.51%
+70.39%
+7.16%
+61.43%
+124.72%
+118.42%
+46.75%
+330.77%
+463.38%
-177.78%
+394.12%
-92.31%
+146.95%
+372.01%
+2942.76%
+227.87%
-100.00%
Revenue
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Q2,2019
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Q4,2019
Q1,2020
Q2,2020
Q3,2020
Q4,2020
Q1,2021
Q2,2021
Q3,2021
Q4,2021
Q1,2022
Q2,2022
Q3,2022
Q4,2022
Q1,2023
Q2,2023
Q3,2023
Q4,2023
Q1,2024
Q2,2024
Q3,2024
Q4,2024
Q1,2025
Q2,2025
Q3,2025
Q4,2025
Actual
--------------------------------444.53M343.03M363.96M376.43M379.98M378.94M409.21M421.08M442.13M453.49M457.43M446.94M445.92M472.36M451.00M441.89M436.38M450.27M443.25M457.79M461.58M441.44M453.70M453.71M
Forecast
--------------------------------427.01M365.94M362.49M364.99M384.84M378.74M380.62M417.01M427.86M431.44M451.70M455.77M451.56M441.76M453.79M453.82M446.17M439.28M445.07M448.85M452.13M459.58M440.00M444.66M
Surprise
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
+4.10%
-6.26%
+0.41%
+3.13%
-1.26%
+0.05%
+7.51%
+0.98%
+3.33%
+5.11%
+1.27%
-1.94%
-1.25%
+6.93%
-0.62%
-2.63%
-2.20%
+2.50%
-0.41%
+1.99%
+2.09%
-3.95%
+3.11%
+2.03%

Earnings Call