Vornado Q4 FFO Miss by 3.05% Despite 4.36% Revenue Beat
Vornado reported Q4 FFO of $0.55 per share, missing consensus by $0.02 and down from $0.61 a year ago, a 3.05% FFO shortfall. Q4 revenues of $453.7 million beat estimates by 4.36% but trailed last year’s $457.8 million, and shares are down 6% YTD versus a 1.3% S&P gain.
1. Q4 Financial Results
Vornado reported Q4 FFO of $0.55 per share, missing consensus by $0.02 and down from $0.61 a year earlier, representing a 3.05% shortfall. Revenue for the quarter reached $453.7 million, a 4.36% beat on estimates but modestly below the prior year’s $457.8 million.
2. Estimate Revisions and Outlook
Consensus for the next quarter’s FFO stands at $0.59 per share on projected revenue of $443.65 million, while full-year FFO is estimated at $2.37 on $1.8 billion in revenue. Recent downward revisions in these estimates have placed the company’s industry rank in the bottom 25%, signaling cautious near-term growth expectations.
3. Stock Performance and Guidance
Vornado shares have declined 6% since the start of the year, underperforming the S&P 500’s 1.3% gain, as investors await management’s commentary on FFO sustainability, capital allocation plans and strategic outlook for 2026.