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Farmland (FPI)
NYSE:FPI
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Earnings Data
Report Date
Mar 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.78Last Year’s EPS
$0.32Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 11.59%
|Next Earnings Date:Mar 12, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a strong operational performance with significant debt reduction and a special dividend as positive signals to shareholders. However, challenges such as a decline in net income due to past asset dispositions, limited flexibility in future asset sales, and a challenging environment for rent increases offset these positives.Company Guidance
During the Farmland Partners Inc. Q3 2024 earnings call, the company provided several financial metrics and guidance for the future. For the three months ended September 30, 2024, net income was reported at $1.8 million or $0.02 per share, with an adjusted funds from operations (AFFO) of $1.4 million or $0.03 per share. For the nine-month period, net income was $1.2 million or negative $0.02 per share, and AFFO was $4.7 million or $0.10 per share. The company announced a special dividend between $1.00 and $1.10 per share, driven by tax requirements and as a signal of strong business performance. Additionally, the company has reduced its debt load significantly by approximately $189 million from recent asset sales, with a current weighted average cost of debt standing at 5.05% after repayments. Looking ahead, the 2024 AFFO is projected to range between $11.8 million and $14.8 million, or $0.24 to $0.30 per share. The company remains committed to closing the valuation gap by either increasing stock price or returning capital through stock buybacks and distributions.Strong Operational Performance
The company reported a very strong operational quarter, highlighting effective cost control measures and portfolio restructuring that contributed to improved financials.
Significant Debt Reduction
Farmland Partners successfully reduced its debt by almost half, positioning the balance sheet in a strong state and aiming for a lower leverage level than ever before.
Special Dividend Announcement
A special dividend in the range of $1 to $1.10 was announced, reflecting both a tax requirement and a strong business signal to shareholders about the realized gains.
AFFO Increase
AFFO increased to $1.4 million or $0.03 per share for the quarter and $4.7 million or $0.10 per share for the first nine months, benefiting from lower expenses and increased crop sales profitability.
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FPI Earnings History
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
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FPI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $11.04 | $11.71 | +6.07% |
| Jul 24, 2024 | $11.28 | $10.51 | -6.83% |
| Apr 30, 2024 | $10.64 | $11.01 | +3.48% |
| Feb 28, 2024 | $10.77 | $11.61 | +7.80% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Farmland (FPI) report earnings?
Farmland (FPI) is schdueled to report earning on Mar 12, 2025, TBA Not Confirmed.
What is Farmland (FPI) earnings time?
Farmland (FPI) earnings time is at Mar 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FPI EPS forecast?
FPI EPS forecast for the fiscal quarter 2024 (Q4) is $0.78.
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