NYSE$FPI
Farmland Partners Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Farmland Partners experienced mixed results, marked by a net loss but improved AFFO, driven by portfolio improvements and cost-saving initiatives.
Farmland Partners reported a net loss of $2.1 million, or -$0.06 per share, compared to a net income of $7.9 million, or $0.14 per share, for the same period in 2023. However, AFFO improved to $0.5 million, or $0.01 per share, compared to -$1.1 million, or -$0.02 per share, for the same period in 2023, excluding a one-time severance expense. The company's performance was driven by portfolio improvements and cost-saving initiatives.
- Net loss was ($2.1) million, or ($0.06) per share, compared to net income of $7.9 million, or $0.14 per share, for the same period in 2023.
- AFFO was $0.5 million, or $0.01 per share, compared to ($1.1) million, or ($0.02) per share, for the same period in 2023, excluding a one-time severance expense.
- Total operating revenues decreased by $0.1 million, or 1.2%.
- Total operating expenses decreased by approximately $0.6 million, a 7.0% decrease compared to the same period in 2023.
Headline financials
Revenue & EPS history
Farmland Partners · Revenue · Quarterly
$11.4M
Revenue by segment
Farmland Partners · $10.9M total across 3 segments · Q3 2023
- Rental Income$9.43M+3.9%86.4%
- Crop Sales$814K-67.1%7.5%
- Other Revenue$666K-5.5%6.1%
Forward guidance
The company continues to evaluate further opportunities for assets disposals in the remainder of the year, with the hope of generating proceeds to fund additional debt or preferred equity reductions and stock buybacks.
Tailwinds
- Lower interest rates
- Improving capital markets
- Continued resiliency in the farm economy
- A leaner corporate structure
- Potential for strong quarterly results
Headwinds
- Ongoing war in Ukraine and the ongoing conflict in the Middle East
- Changes in trade policies in the United States and other countries
- High inflation and elevated interest rates
- The onset of an economic recession in the United States and other countries
- Extreme weather events
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+1.2%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+2.5%
Avg return
30 days after
59%
29 / 49 earnings
Positive
+13.6%
Q4 2018
Best reaction
-13.4%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.9% | -7.9% | -10.5% | |
| Q4 2025 | +2.8% | +8.0% | -7.2% | |
| Q3 2025 | +2.1% | -2.1% | -2.6% | |
| Q2 2025 | +0.8% | +1.2% | +1.5% | |
| Q1 2025 | -0.3% | +3.8% | +15.3% | |
| Q4 2024 | +7.5% | +0.6% | -5.9% | |
| Q3 2024 | +6.5% | +7.7% | +15.5% | |
| Q2 2024 | -8.2% | -10.8% | -11.6% | |
| Q1 2024 | +3.2% | +3.9% | -1.0% | |
| Q4 2023 | +7.6% | +2.8% | +1.2% | |
| Q3 2023 | -1.7% | -3.6% | +18.9% | |
| Q2 2023 | -11.0% | -12.6% | -16.7% | |
| Q1 2023 | +4.6% | +5.5% | +16.4% | |
| Q4 2022 | -13.4% | -13.9% | -17.9% | |
| Q3 2022 | +5.4% | +5.9% | +0.4% | |
| Q2 2022 | -0.3% | +2.7% | +3.0% | |
| Q1 2022 | +9.7% | +4.6% | +4.3% | |
| Q4 2021 | +4.4% | +3.2% | +15.9% | |
| Q3 2021 | -4.4% | -6.5% | -0.9% | |
| Q2 2021 | -0.6% | -1.4% | +1.5% | |
| Q1 2021 | +2.8% | +0.2% | -1.4% | |
| Q4 2020 | -12.9% | -13.4% | -0.8% | |
| Q3 2020 | +9.8% | +16.5% | +27.0% | |
| Q2 2020 | -3.6% | -2.2% | -5.3% | |
| Q1 2020 | +0.2% | -7.3% | +11.9% | |
| Q4 2019 | +11.9% | +13.3% | +17.5% | |
| Q3 2019 | -2.7% | -2.8% | -2.7% | |
| Q2 2019 | +5.6% | +7.9% | +9.9% | |
| Q1 2019 | -1.2% | -0.6% | -2.9% | |
| Q4 2018 | +13.6% | +14.5% | +25.7% | |
| Q3 2018 | +0.7% | +6.9% | -15.4% | |
| Q2 2018 | -5.7% | -3.8% | -2.1% | |
| Q1 2018 | +5.2% | +0.9% | +13.9% | |
| Q4 2017 | +6.1% | +7.4% | +11.0% | |
| Q3 2017 | +4.1% | +4.9% | +3.1% | |
| Q2 2017 | +6.7% | +4.9% | -4.7% | |
| Q1 2017 | -1.4% | -4.7% | -11.4% | |
| Q4 2016 | +4.6% | +3.8% | -0.6% | |
| Q3 2016 | -2.4% | +0.4% | +7.1% | |
| Q2 2016 | +0.0% | -3.1% | -1.1% | |
| Q1 2016 | -0.3% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | -1.2% | — | — | |
| Q2 2015 | +0.6% | — | — | |
| Q1 2015 | +2.2% | — | — | |
| Q4 2014 | +0.6% | — | — | |
| Q3 2014 | +1.3% | — | — | |
| Q2 2014 | -1.3% | — | — | |
| Q1 2014 | +2.3% | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — |
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