Gladstone Land (LAND)
NASDAQ:LAND
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Earnings Data
Report Date
Aug 06, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.26Last Year’s EPS
-0.38Same Quarter Last Year
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mix of constructive operational and balance-sheet developments alongside material near-term challenges. Positive operational items include a strong 2025 harvest, early recognition of a pistachio marketing bonus, improved AFFO, solid immediate liquidity (~$150M) and successful preferred repurchases that have reduced leverage. However, these were balanced by notable negatives: a Q1 GAAP net loss (net loss to common ~$10M), tenant delinquencies and nonaccruals, eight vacant farms, decreased fixed-base rent revenue (~$2.4M), increased operating and legal costs, uncertainty around 2026 pistachio yields due to a bloom heat event, and a meaningful amount of loans ($155M) that will reprice within the next year. Given the roughly balanced set of clear financial/operational positives and significant risks/uncertainties, the overall tone is cautious with signs of stabilization but material short-term headwinds remain.Company Guidance
Strong 2025 Harvest and Early Pistachio Bonus
2025 harvest came in very strong with almond and pistachio yields meeting or exceeding expectations. An early pistachio marketing bonus was received (early payment equated to about $0.50/lb), driving participation rents up about $4.4M and contributing to ~$1.9M net income from crop sales in Q1.
Improved Adjusted FFO
Adjusted FFO (AFFO) rose to $3.1M ($0.08 per share) in Q1 versus $2.0M ($0.06 per share) a year ago — an increase of ~$1.1M in absolute dollars (≈55% increase) and +33% on a per-share basis.
Strong Liquidity Position and Deleveraging Actions
Approximately $150M of immediately available capital and >$110M of unpledged properties. Added unencumbered properties increased immediately available liquidity by about $50M. ~$50M raised via ATM in 2026 and proceeds used to reduce leverage, repay the line of credit and fund preferred repurchases.
Fixed-Rate Debt Protection
Over 99% of borrowings are fixed-rate with a weighted average interest rate of 3.41% locked for ~2.5 years, insulating the company from near-term rate volatility. Scheduled principal amortization is modest (~$17M, <4% of total debt over next 12 months).
Preferred Repurchases and Capital Efficiency
Redeemed Series D and repurchased over $6M of preferred stock in 2026 at an average repurchase yield of 7.4%, generating a total gain of nearly $700k — reducing cost of capital and improving capital structure.
Attractive Dividend Yield
Declared monthly dividend of $0.0467 per share for Q2 2026. At the then-stock price of $9.44 this represented an annualized yield of ~5.9%, above the REIT sector average.
Significant Asset Base and Water Position
Portfolio of ~99,000 acres across 144 farms and ~56,000 acre-feet of water (~18 billion gallons). Management actively pursuing strategic water purchases and investments in water delivery/storage to strengthen water security.
Early Signs of Market Stabilization
Management sees Western U.S. ag real estate markets bottoming with increased transaction activity (notably pistachio acquisitions). Pistachio and almond pricing firming and management expects minimum pistachio pricing for 2026 to be significantly higher than 2025.
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
LAND Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 11, 2026 | $9.39 | $9.40 | +0.11% |
Feb 24, 2026 | $11.35 | $12.32 | +8.60% |
Nov 05, 2025 | $8.94 | $9.03 | +0.97% |
Aug 07, 2025 | $8.71 | $8.28 | -4.93% |
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 Aug 06, 2026, After Close (Confirmed).
What is Gladstone Land (LAND) earnings time?
Gladstone Land (LAND) earnings time is at Aug 06, 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 LAND EPS forecast?
LAND EPS forecast for the fiscal quarter 2026 (Q2) is -0.26.