Quarterly ResultMay 4, 2026, 04:28 PM
Vornado Realty Trust Q1 Net Loss $22.8M; EPS $(0.12)
AI Summary
Vornado Realty Trust reported a net loss attributable to common shareholders of $22.8 million, or $(0.12) per diluted share, for the first quarter of 2026, a significant decline from net income of $86.8 million, or $0.43 per diluted share, in the same period last year. Total revenues saw a minor decrease, while net cash provided by operating activities also fell. The company's UPREIT structure, where Vornado Realty L.P. conducts most business, was also detailed in the filing.
Key Highlights
- Vornado Realty Trust reported a net loss attributable to common shareholders of $(22,842) thousand for Q1 2026, down from $86,842 thousand in Q1 2025.
- Diluted net loss per common share was $(0.12) for Q1 2026, compared to diluted net income per common share of $0.43 for Q1 2025.
- Total revenues were $459,105 thousand for Q1 2026, a slight decrease from $461,579 thousand in Q1 2025.
- Net cash provided by operating activities was $47,747 thousand for Q1 2026, a decrease from $52,034 thousand in Q1 2025.
- Cash and cash equivalents increased to $1,081,299 thousand as of March 31, 2026, from $840,850 thousand as of December 31, 2025.
- The company repurchased common shares totaling $(79,899) thousand during Q1 2026.
- Vornado operates as an UPREIT, with Vornado Realty L.P. conducting substantially all business and owning assets.