Vornado Realty Trust (VNO) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for holding your conference will begin in five minutes. Thank you for your patience. Thank you. Thank you. . . . . . . Thank you. Thank you. . . . . . Thank you. 🎵 🎵 Good morning and welcome to the Vornado Realty Trust fourth quarter 2025 earnings call. My name is Nick, and I will be your operator for today's call. This call is being recorded for replay purposes. All lines are in a listen-only mode. Our speakers will address your questions at the end of the presentation during the question-and-answer session. At that time, please press star, then 1 on your touch-tone phone. I will now turn the call over to Mr. Steve Bornstein, Executive Vice President and Corporation Counsel. Please go ahead, sir. Welcome to Vernado Realty Trust's work. quarter earnings call. Yesterday afternoon, we issued our fourth quarter earnings release and filed our annual report on Form 10-K with the Securities and Exchange Commission. These documents, as well as our supplemental financial information package, are available on our website, www.bno.com, under the Investor Relations section. In these documents and during today's call, we will discuss certain non-GAAP financial measures. Reconciliations of these measures to the most directly comparable GAAP measures are included in our earnings release, Form 10-K, and financial supplement. Please be aware that statements made during this call may be deemed forward-looking statements and actual results may differ materially from these statements due to a variety of risks, uncertainties, and other factors. Please refer to our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2025, for more information regarding these risks and uncertainties. call may include tim...