Veris (VRE) Reports Q1 Earnings: What Key Metrics Have to Say

Veris Residential (VRE) reported $67.34 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 0.6%. EPS of $0.14 for the same period compares to -$0.30 a year ago.

The reported revenue represents a surprise of -7.14% over the Zacks Consensus Estimate of $72.52 million. With the consensus EPS estimate being $0.11, the EPS surprise was +27.27%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Veris performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Real estate services: $0.92 million versus the two-analyst average estimate of $0.78 million. The reported number represents a year-over-year change of +1.2%.
  • Revenues- Other income: $2.03 million versus $1.20 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
  • Net Earnings Per Share (Diluted): -$0.04 compared to the -$0.12 average estimate based on two analysts.
View all Key Company Metrics for Veris here>>>

Shares of Veris have returned +4.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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