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

Vornado swings to $86.8 million Q1 profit; FFO as adjusted rises to $0.63 per share

Positive Impact 3 of 5 earnings Written later

Vornado Realty Trust reported first-quarter 2025 net income attributable to common shareholders of $86.8 million, or $0.43 per diluted share, compared with a loss of $9.0 million a year earlier. The gain was driven mainly by a $76.2 million net gain on the partial sale of 666 Fifth condominium to UNIQLO and a $17.2 million reversal of PENN 1 rent expense, so the profit swing includes one-time items. FFO as adjusted, a non-GAAP measure, rose to $126.2 million, or $0.63 per diluted share, from $108.8 million, or $0.55, a year earlier.

Key points

  • Net income attributable to common shareholders was $86.8 million ($0.43 per diluted share), versus a loss of $9.0 million ($0.05 per share) in Q1 2024.
  • FFO attributable to common shareholders plus assumed conversions, as adjusted, was $126.2 million ($0.63 per diluted share), up from $108.8 million ($0.55).
  • The 666 Fifth sale to UNIQLO produced a $76.2 million gain, and the PENN 1 ground rent reset led to a $17.2 million rent expense reversal, both in the first quarter.

The filing

CompanyVornado Realty Trust (VNO)
Form8-K, current report
Filed with the SECMay 5, 2025, 4:20 PM ET
Accession number0000899689-25-000021

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 May 05, 2025.

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.