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Farmland (FPI)
NYSE:FPI
Earnings Data
Report Date
May 05, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
<0.01Last Year’s EPS
0.03Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed meaningful progress on capital structure and cash-flow metrics — redemption of preferred equity, a 50% dividend increase, reduced debt and $9.2M lower interest expense, improved AFFO and greater liquidity — demonstrating operational discipline and shareholder-friendly actions. Offsetting these positives are declines in reported net income, a $17M impairment tied to West Coast assets, ~ $6M lower operating revenue due to prior dispositions, and management's cautious 2026 guidance (lower expected net income and AFFO). On balance the positives around balance sheet simplification, cash flow (AFFO), dividend increase and access to capital/lending programs materially outweigh the near-term earnings headwinds and localized portfolio impairments.Company Guidance
Improved AFFO and Strong Q4 Performance
AFFO was $17.9 million for FY2025 and $11.4 million for Q4 2025 (or $0.39 and $0.26 per weighted average share, respectively), which management reported as higher than the same periods in 2024. Management described Q4 as very strong and noted seasonality contributed to strong Q4 revenue recognition.
Dividend Increase
Quarterly common dividend increased by 50% to $0.09 per share, driven by increased AFFO and management's confidence in cash flow sustainability.
Balance Sheet Simplification — Preferred Redemption
Redeemed remaining 68,000 Series A preferred units in February 2026, removing the common stock overhang, simplifying capital structure and reducing senior claims to common shareholders.
Debt Reduction and Interest Expense Savings
Significant debt reductions since October 2024 resulted in a $9.2 million reduction in interest expense year over year; management emphasized lower leverage and improved liquidity.
Liquidity and Credit Capacity
Undrawn capacity on lines of credit was approximately $164.0 million at 12/31/2025 and about $111.7 million as of the call (net borrowing used to redeem preferred). Farmer Mac facility was successfully amended and increased from $75.0 million to $89.6 million.
Sale of Non-Core Business (MWA) and Ongoing Market Access
Sold Murray Wise (brokerage/auction/asset management subsidiary) to People's Company, reducing G&A and simplifying operations while maintaining a close working relationship to preserve market intelligence.
Loan Program Growth and Strong Returns
FPI loan program activity increased; management expects the loan program to be steady or grow, benefiting from countercyclical demand. One loan repriced in January at 5.19% and management expects refinancings around ~5.3% for Term Loan #1.
Selective Dispositions and Realized Asset Gains
Active disposition program with emphasis on portfolio optimization (notably California). Management noted many Illinois assets are up 30%+ since purchase and will sell opportunistically to realize gains and distribute to shareholders.
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
FPI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | $11.68 | $11.91 | +1.97% |
Oct 29, 2025 | $9.84 | $10.04 | +2.07% |
Jul 23, 2025 | $10.99 | $10.95 | -0.35% |
May 07, 2025 | $9.65 | $9.62 | -0.30% |
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 Farmland (FPI) report earnings?
Farmland (FPI) is schdueled to report earning on May 05, 2026, After Close (Confirmed).
What is Farmland (FPI) earnings time?
Farmland (FPI) earnings time is at May 05, 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?
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 2026 (Q1) is <0.01.