Q2 2025 Farmland Partners Inc Earnings Call Transcript

Jul 24, 2025 / 03:00PM GMT

Release Date Price: $11.31 (-0.35%)

Transcript 10-Q8-K

Key Points

Positve

Farmland Partners Inc (FPI) reported a strong quarter with significant gains from asset sales, particularly in the Midwest.
The company successfully exited the Colorado market with substantial gains, addressing long-term water concerns.
FPI completed asset dispositions totaling approximately $80 million, realizing gains of around $25 million.
The company repurchased about 5% of its shares, enhancing shareholder value.
Interest expenses decreased significantly due to debt reductions, positively impacting AFFO.

Negative

FPI took a $16.8 million impairment charge on four farms in California due to water issues and crop challenges.
The regulatory environment in California has negatively impacted farm values, particularly for specialty crops like pistachios and walnuts.
Fixed farm rent revenue decreased due to property dispositions.
The company faces ongoing legal disputes, which have increased legal and accounting expenses.
FPI's stock remains deeply undervalued, affecting potential conversion of preferred units into shares.

Operator

Good morning ladies and gentlemen, and thank you for standing by. My name is Kelvin, and I will be your conference operator today. At this time, I would like to welcome everyone to the Farmland Partners Inc Q2 2025 earnings call. (Operator Instructions)

Thank you. I would now like to send the call over to Luca Fabbri President and CEO. Please go ahead.

Luca Fabbri

Farmland Partners Inc - President, Chief Executive Officer

Thank you, Kelvin. Thank you, everybody, and good morning. Thanks for joining us today for this, second quarter 2025 earnings conference call and webcast. I will, we will start as usual with some customary preliminary remarks from our general counsel, Christine Garrison. Christine.

Christine Garrison

Farmland Partners Inc - General Counsel, Corporate Secretary

Thank you, Luca, and thank you to everyone on the call. The press release announcing our second quarter earnings was distributed after market closed yesterday. The supplemental package has been posted to the Investor Relations

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