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Dec 31, 2022
Farmland Partners Q4 2022 Earnings Report
Reported financial results for the fourth quarter and full year 2022, achieving record total revenue and AFFO for the year.
Key Takeaways
Farmland Partners Inc. reported a decrease in net income for Q4 2022 compared to the same period in 2021, but an increase in AFFO. The company highlighted a strong year with record total revenue and AFFO, driven by higher rents, increased auction and brokerage fee revenue, and lower litigation expenses.
Net income for Q4 2022 was $6.7 million, or $0.11 per share.
AFFO for Q4 2022 was $10.0 million, or $0.18 per share.
Total operating revenues for Q4 2022 were $21.823 million.
Operating income for Q4 2022 was $12.473 million.
Forward Guidance
While the overall business is solid, inflation is leading to increased interest costs, and supply chain disruptions and weather events have resulted in volatility in certain crop yields and crop prices, negatively impacting the company's bottom line.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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