EarningsQ4 2024 Earnings Report

Alexander's (AXE) Q4 2024 Earnings Report

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Previous Report: Q3 2024

Next Report: Q1 2025

DE:AXE Q4 2024 EPS Results

Actual EPS€3.61

Consensus EPS―

Beat/Miss―

One Year Ago EPS€4.44

DE:AXE Q4 2024 Revenue Results

Actual Revenue€49.75M

Expected Revenue€49.11M

Beat/MissBeat by +€631.72K

YoY Revenue Growth-11.16%

Earnings Announcement Details

QuarterQ4 2024

Date02/10/2025

TimeBefore Open

Conference CallMonday, February 10, 2025

DE:AXE Upcoming Earnings

Alexander's's next earnings date is estimated for November 2, 2026, based on past reporting schedules.

Q4 2024 Earnings Call Audio

DE:AXE Q4 2024 Earnings Call

0:00 / 0:00

Q4 2024 Earnings Slide Deck

No slide deck is available for this earnings event.

Q4 2024 Earnings Call Summary

Q4 2024

Earnings Call Date:Feb 10, 2025|

% Change Since:

Earnings Call Sentiment|Neutral

The earnings call highlighted strong leasing activity, significant stock price increase, and successful redevelopment projects, particularly in the Penn District. However, the call also acknowledged a decline in comparable FFO, a slightly negative outlook for 2025, and the impact of high short-term interest rates on financial performance. Overall, the highlights suggest confidence in long-term growth, while the lowlights indicate short-term financial challenges.

Company Guidance

During the Vornado Realty Trust Fourth Quarter 2024 Earnings Conference Call, management highlighted several key metrics reflecting the company's positive trajectory. The company achieved a 49% increase in stock price for 2024, following a 35% rise in 2023. Leasing activity was robust, with 3.34 million square feet leased, including 2.65 million square feet of New York office space at an average starting rent of $104 per square foot. The office occupancy rate increased to 88.8%, and is expected to rise to 92.1% with the upcoming NYU master lease at 770 Broadway. Vornado also achieved 100% LEED certification across its portfolio. The company anticipates significant earnings growth by 2027, driven by positive market dynamics and leasing activity, despite predicting slightly lower results for 2025 compared to 2024.

Strong Leasing Activity in New York

Leased 3.34 million square feet overall, including 2.65 million square feet of New York office space with starting rents at $104, showing 2.5% cash and 10.9% GAAP mark-to-market.

Significant Stock Price Increase

Vornado's stock price increased by 49% in 2024, following a 35% increase in 2023.

First REIT to Achieve 100% LEED Certification

Vornado Realty Trust's entire portfolio is 100% LEED certified, marking a significant sustainability milestone.

Penn District Developments

Penn Two expected to be 80% leased by year-end with above-underwriting rents, indicating strong demand and successful redevelopment.

Successful Refinancing and Debt Management

Refinanced 1535 Broadway and repaid $450 million unsecured bonds, improving financial flexibility.

DE:AXE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 02, 2026	2026 (Q3)	- / -	2.583	―
Aug 03, 2026	2026 (Q2)	- / 1.27	1.059	20.17% (+0.21)
May 04, 2026	2026 (Q1)	- / 2.32	3.614	-35.89% (-1.30)
Feb 09, 2026	2025 (Q4)	- / 2.16	3.611	-40.28% (-1.45)
Nov 03, 2025	2025 (Q3)	- / 2.58	2.527	2.22% (+0.06)
Aug 04, 2025	2025 (Q2)	- / 1.06	2.946	-64.06% (-1.89)
May 05, 2025	2025 (Q1)	- / 3.61	4.428	-18.38% (-0.81)
Feb 10, 2025	2024 (Q4)	- / 3.61	4.436	-18.59% (-0.82)
Nov 04, 2024	2024 (Q3)	- / 2.53	3.233	-21.85% (-0.71)
Aug 05, 2024	2024 (Q2)	- / 2.95	3.161	-6.81% (-0.22)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed