Gladstone Land (LAND) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 12, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

-0.22

Last Year’s EPS

0.25

Same Quarter Last Year

Analyst Consensus

Hold

Based on 3 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 24, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call conveys a mix of positive operational momentum and manageable liquidity/financial positioning alongside meaningful challenges. Operationally, management highlighted a strong 2025 harvest, resilient nut markets (notably pistachios), realized gains from property sales, improved Q4 AFFO, and solid liquidity & low fixed-rate debt. Offsetting these positives are full-year pressures including a net loss to common shareholders, a year-over-year decline in full-year AFFO, substantial reductions in fixed base rents due to lease restructuring, tenancy/vacancy issues, timing-related cash flow weakness, and exposure to upcoming loan repricings. Management is taking proactive actions (preferred redemption, ATM raises, targeted sales) and expects additional crop-related cash flows in 2026, but elevated cost of capital limits near-term acquisition activity. Overall, positives and negatives are roughly balanced.

Company Guidance

Management's guidance emphasized liquidity, timing of crop proceeds, cautious deployment of capital, and portfolio actions: they sold 6 properties in 2025 for ~$95M of proceeds with ~ $21M aggregate gains, still own ~99,000 acres across 144 farms (≈56,000 acre‑feet ≈18 billion gallons) in 14 states with water assets in California, executed 5 lease renewals this quarter (two row‑crop renewals up ~7%), have 5 leases expiring over the next six months representing ~3.6% of 2025 lease revenue, and currently report 9 wholly/partially vacant farms (4 direct‑operated); financially Q4 net income was ~$4.2M (net loss to common $1.8M, $0.05/sh), FY net income ~$13.5M (net loss to common $10.5M, $0.29/sh), AFFO was $14.4M/$0.38 in Q4 (vs $3.4M/$0.09 LY) and $14.4M/$0.39 for the year (vs $16.0M/$0.47 LY), fixed base cash rents fell ~$1.9M in the quarter (~$19.8M FY) while participation rents rose ~$9.3M Q (~$10.6M FY), net crop profit from direct‑operated farms was ~$2.6M, and termination‑related revenue totaled ~$4.4M ($2M in Q4); liquidity and capital posture includes ~ $85M of immediately available capital, >$185M of unpledged properties, ~98% of borrowings fixed at a 3.39% weighted average rate for ~2.7 years, ~$17M of scheduled principal in the next 12 months, ~ $160M of loans scheduled to reset (including $135M MetLife repricing Jan‑2027), ~ $50M raised via ATM since Q4 (~$33M this quarter) used largely to redeem Series D (avoiding a coupon step‑up from 5% to 8%), a ~$10M LOC balance at 5.69%, and a declared monthly dividend of $0.0467 (annualized ≈$0.56, ~4.9% yield at $11.51); operationally management expects additional 2025 pistachio proceeds in 2026 (management estimates at least ~$3M from marketing bonuses, citing a $0.50/lb processor bonus), sees ample California water and attractive Article‑21 water pricing (~$50–$80/acre‑ft), anticipates interest expense ~10–15% lower in Q1, and will remain disciplined on acquisitions while considering using future sale proceeds to pay down debt and repurchase higher‑cost preferred stock.

Strong Q4 Adjusted FFO Performance

Adjusted FFO (AFFO) for Q4 was $14.4M or $0.38 per share, up from $3.4M or $0.09 per share in the year-ago quarter (≈+322% per share), reflecting improved quarter-end operating results and higher participation rents.

Property Sales and Realized Gains

Completed 6 property sales during the year with proceeds of $95M and recognized aggregate gains of about $21M; two sales occurred in Q4 (small blueberry farm sold at a small loss; Colorado farm sold at a gain).

Successful 2025 Harvest and Strong Nut Markets

Harvest completed for 2025 with yields exceeding budgeted objectives, particularly for almonds and pistachios; pistachio market showing resilience and strength with light buyer-side supply and a processor announcing a $0.50/lb bonus for 2025 pistachios, increasing likelihood that final 2025 pistachio pricing will exceed 2024.

Direct-Operated Farm Profitability and Future Revenue

Net profit from crop sales in direct-operated farms was ~$2.6M for 2025 (first harvest year). Management expects additional pistachio-related cash (estimated at ~ $3M) to be recognized in 2026 due to marketing bonus payments.

Healthy Liquidity and Balance Sheet Flexibility

Approximately $85M of immediately available capital plus over $185M of unpledged properties available as additional collateral; raised roughly $50M of common stock via ATM since the beginning of Q4 to fund preferred redemption and liquidity needs.

Low Fixed-Rate Debt Cushion

About 98% of borrowings are at fixed rates with a weighted-average interest rate of 3.39% locked for another ~2.7 years, helping shield the company from near-term rate volatility.

Dividend and Shareholder Yield

Declared monthly dividend of $0.0467 per share for Q1 2026; at the reported stock price of $11.51 this equates to an annualized yield of ~4.9%, above the REIT sector average.

Water Asset Position and Market Opportunity

Own nearly 99,000 acres across 144 farms and about 56,000 acre-feet of water (approx. 18 billion gallons). Current wet conditions and above-average reservoirs create attractive water banking opportunities; management cited available Article 21 water pricing in the $50–$80/acre-foot range.

Proactive Capital Management

Redeemed Series D preferred to avoid coupon step-up (from 5% to 8%), funded via ATM issuance and line-of-credit draw; management intends to use future sale proceeds to pay down debt and repurchase higher-cost preferred shares when attractive spreads exist.

Gladstone Land (LAND) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

LAND Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 12, 2026	2026 (Q1)	-0.22 / -	0.252	―	―	―
Feb 24, 2026	2025 (Q4)	0.17 / -0.05	-0.151	68.21% (+0.10)	―
Nov 05, 2025	2025 (Q3)	-0.27 / -0.11	-0.161	32.92% (+0.05)	―
Aug 07, 2025	2025 (Q2)	-0.22 / -0.38	-0.186	-106.45% (-0.20)	―
May 12, 2025	2025 (Q1)	-0.07 / 0.25	0.208	21.15% (+0.04)	―
Feb 19, 2025	2024 (Q4)	-0.12 / -0.15	-0.12	-25.83% (-0.03)	―
Nov 06, 2024	2024 (Q3)	-0.10 / -0.16	-0.083	-93.98% (-0.08)
Aug 08, 2024	2024 (Q2)	-0.12 / -0.19	0.048	-487.50% (-0.23)	―
May 07, 2024	2024 (Q1)	-0.10 / 0.21	-0.122	270.49% (+0.33)	―
Feb 20, 2024	2023 (Q4)	-0.07 / -0.12	-0.138	13.04% (+0.02)	―

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

LAND Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 24, 2026	$11.51	$12.50	+8.60%
Nov 05, 2025	$9.06	$9.15	+0.97%
Aug 07, 2025	$8.83	$8.39	-4.93%
May 12, 2025	$9.19	$9.44	+2.70%

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.

FAQ

When does Gladstone Land (LAND) report earnings?

Gladstone Land (LAND) is schdueled to report earning on May 12, 2026, After Close (Confirmed).

What is Gladstone Land (LAND) earnings time?

Gladstone Land (LAND) earnings time is at May 12, 2026, After Close (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?

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What is LAND EPS forecast?

LAND EPS forecast for the fiscal quarter 2026 (Q1) is -0.22.