Vornado Realty Trust Earnings: Here’s Why Investors are Happy Now
Vornado Realty Trust (NYSE:VNO) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.05%.
Vornado Realty Trust Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 40.66% to $1.08 in the quarter versus EPS of $1.82 in the year-earlier quarter.
Revenue: Rose 185.68% to $721.02 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Vornado Realty Trust reported adjusted EPS income of $1.08 per share. By that measure, the company missed the mean analyst estimate of $1.67. It beat the average revenue estimate of $649.84 million.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…
Revenue decreased 23.94% from $947.95 million in the previous quarter. EPS decreased 14.29% from $1.26 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.09 to a profit $1.17. For the current year, the average estimate has moved down from a profit of $5.08 to a profit of $5.02 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)