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Gladstone Land (LAND)
NASDAQ:LAND
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.12Last Year’s EPS
-$0.12Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -21.79%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a challenging period for Gladstone Land, with net income and FFO declines, significant NAV reduction, and challenges in the permanent crop sector. However, there are positive aspects such as lease execution and increased participation rents, indicating a mixed outlook.Company Guidance
During the Q3 2024 earnings call for Gladstone Land Corporation, the executive team provided comprehensive guidance on various financial metrics. They discussed the company's current holdings of approximately 112,000 acres across 168 farms and 54,000 acre-feet of water assets, collectively valued at $1.5 billion. The leasing activity was highlighted, mentioning 21 new or amended leases expected to increase net operating income by $309,000, or 11%. Adjustments in lease structures for certain permanent crop farms were made to alleviate tenants' fixed costs, with anticipated net operating income decreasing by about $441,000 from prior leases. Financially, the company reported a net income of $6,000 and a net loss to common shareholders of $5.8 million. Adjusted funds from operations (AFFO) stood at $4.5 million, resulting in a per-share amount of $0.13, down from $0.15 in the previous quarter. Additionally, the net asset value per common share declined from $17.59 to $15.57, primarily due to revaluation of permanent crop farms. The company is anticipating a $20 million swing in fixed base rents over the next five quarters, transitioning to participation rents by the second half of 2025.Active Leasing and Revenue Increase
Since the beginning of the third quarter, 21 new or amended leases were executed across 8 states, resulting in an aggregate increase in net operating income of approximately $309,000 or 11% over prior leases.
Participation Rent Increase
Participation rents increased by $1.1 million during the quarter, largely driven by stronger production at pistachio farms.
Strong Liquidity Position
Gladstone Land has access to over $160 million in liquidity, including $20 million in cash on hand, with 99.9% of borrowings at fixed rates averaging 3.4% for another 3.7 years.
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LAND 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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LAND Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $13.48 | $13.55 | +0.52% |
| Aug 08, 2024 | $13.71 | $13.54 | -1.24% |
| May 07, 2024 | $12.68 | $12.85 | +1.34% |
| Feb 20, 2024 | $13.10 | $12.68 | -3.21% |
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 Gladstone Land (LAND) report earnings?
Gladstone Land (LAND) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Gladstone Land (LAND) earnings time?
Gladstone Land (LAND) earnings time is at Feb 25, 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 LAND EPS forecast?
LAND EPS forecast for the fiscal quarter 2024 (Q4) is -$0.12.
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