NYSE$FPI

Farmland Partners Inc · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

Reported relatively good quarter compared to the same period last year, demonstrating the strength and stability of farmland.

Farmland Partners Inc. reported financial results for the quarter ended September 30, 2020, with net income of $0.6 million and basic net loss to common stockholders of $0.09 per share. Total operating revenues were $10.6 million, compared to $9.8 million for the same period in 2019. The company completed one disposition consisting of four properties in the Corn Belt region for a total consideration of $5.2 million and an aggregate gain on sale of $1.3 million.

  • Net income was $0.6 million, compared to a net loss of $1.5 million for the same period last year.
  • Basic net loss to common stockholders was $0.09 per share, compared to $0.15 per share for the same period in 2019.
  • Total operating revenues were $10.6 million, compared to $9.8 million for the same period in 2019.
  • Completed one disposition consisting of four properties in the Corn Belt region for $5.2 million with a gain on sale of $1.3 million.

Headline financials

Total Revenue

$10.6M

Previous: $9.85M+7.7%
EPS (adj)

-$0.04

Previous: -$0.06+33.3%
Adjusted EBITDDARE

$5.9M

No prior period
AFFO

-$1.4M

No prior period
Capital Expenditures

-$2.91M

Previous: -$37.8M+92.3%
Free Cash Flow

-$2.38M

Previous: -$39.1M+93.9%
Net Income

$527K

Previous: -$1.36M+138.6%
Operating Income

$3.65M

Previous: $3.23M+13.1%
Gross Profit

$10.6M

Previous: $9.85M+7.7%
Cash & Equivalents

$7.11M

Previous: $8.56M-17.0%
Total Assets

$1.08B

Previous: $1.1B-1.6%
Stock-Based Comp

$271K

Previous: $385K-29.6%

Revenue & EPS history

Farmland Partners · Revenue · Quarterly

$10.6M

Q3 2020+7.7%vs Q3 2019
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Farmland Partners · $10.9M total across 3 segments · Q3 2023

  • Rental Income
    $9.43M+3.9%
  • Crop Sales
    $814K-67.1%
  • Other Revenue
    $666K-5.5%

Forward guidance

No specific forward guidance provided in the current report.

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 Q3 2020

Historical avgQ3 2020

+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

Earnings price reactions
QuarterReport dateReaction (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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