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AI brief of an SEC Form 8-K · Vornado Realty Trust (VNO)

Vornado Q3 net income rises to $52.8 million as FFO falls to $119.5 million

Mixed Impact 3 of 5 earnings Written later

Vornado Realty Trust reported third-quarter 2023 results on October 30, 2023. GAAP net income attributable to common shareholders rose to $52.8 million, or $0.28 per diluted share, from $7.8 million, or $0.04, a year earlier, but FFO fell to $119.5 million, or $0.62 per diluted share, from $152.5 million, or $0.79. The mixed picture matters to shareholders because FFO, adjusted for one-time items, fell to $127.2 million, or $0.66 per share, from $157.4 million, or $0.81.

Key points

  • Q3 2023 net income attributable to common shareholders was $52.8 million ($0.28 per diluted share), versus $7.8 million ($0.04) in Q3 2022.
  • Q3 2023 FFO attributable to common shareholders plus assumed conversions was $119.5 million ($0.62 per diluted share), versus $152.5 million ($0.79).
  • Adjusted FFO was $127.2 million ($0.66 per diluted share), versus $157.4 million ($0.81) in Q3 2022; the company cited a $11.9 million prior period accrual adjustment in 2022 and $7.3 million higher net interest expense.
  • Net gain of $36.0 million from contributing the Pier 94 leasehold interest to a joint venture was a factor in the net income comparison.

The filing

CompanyVornado Realty Trust (VNO)
Form8-K, current report
Filed with the SECOct 30, 2023, 4:36 PM ET
Accession number0000899689-23-000061

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 30, 2023.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.