Farmland Partners Inc. · NYSE:FPI
Farmland Partners — Q2 2025 Earnings Presentation
21 slides from Farmland Partners's earnings presentation, Jul 24, 2025
Slide 1: Q2 2025 Supplemental Package
Q2 2025 Supplemental Package Farmland Partners Inc. (NYSE: FPI) is an internally managed real estate company that owns and seeks to acquire high-quality farmland throughout North America addressing the global demand for food, feed, fiber and fuel. www.farmlandpartners.com | 4600 S Syracuse St Suite
Slide 2: Table of Contents
Table of Contents Earnings Release ........................................................................................................................................... 1 Consolidated Balance Sheets ...............................................................................................
Slide 3: Earnings Release
Earnings Release Farmland Partners Inc. Reports Second Quarter 2025 Results Continued Strong Value Appreciation through Asset Sales, Reduces Leverage and Repurchases Shares DENVER, July 23, 2025 (BUSINESS WIRE) -- Farmland Partners Inc. (NYSE: FPI) (“FPI” or the “Company”) today reported financial r
Slide 4: Financial and Operating Results
Financial and Operating Results • The table below shows financial and operating results for the three and six months ended June 30, 2025 and 2024 (unaudited). For the three months For the six months (in thousands) ended June 30, ended June 30, Financial Results: 2025 2024 Change 2025 2024 Change Net
Slide 5: Conference Call Information
Conference Call Information The Company has scheduled a conference call on July 24, 2025, at 11:00 a.m. (U.S. Eastern Time) to discuss the financial results and provide a company update. The call can be accessed live over the phone by dialing 1-800-715-9871 and using the conference ID 4868033. The c
Slide 6: Consolidated Balance Sheets
Consolidated Balance Sheets Farmland Partners Inc. Consolidated Balance Sheets As of June 30, 2025 (Unaudited) and December 31, 2024 (in thousands, except par value and share data) June 30, December 31, 2025 2024 ASSETS Land, at cost $ 594,507 $ 645,592 Grain facilities 7,476 7,714 Groundwater 8,858
Slide 7: Consolidated Statements of Operations
Consolidated Statements of Operations of Operations Farmland Partners Inc. Consolidated Statements of Operations Three and Six Months Ended June 30, 2025 and 2024 (Unaudited) (in thousands except per share amounts) For the Three Months Ended For the Six Months Ended June 30, June 30, 2025 2024 2025
Slide 8: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Farmland Partners Inc. Reconciliation of Non-GAAP Measures Three and Six Months Ended June 30, 2025 and 2024 (Unaudited) For the three months For the six months ended ended June 30, June 30, (in thousands except per share amounts) 2025 2024 2025 2024 Net income (l
Slide 9: Reconciliation of Non-GAAP Measures
Farmland Partners Inc. Reconciliation of Non-GAAP Measures Three and Six Months Ended June 30, 2025 and 2024 (Unaudited) For the three months ended June 30, For the six months ended June 30, ($ in thousands) 2025 2024 2025 2024 OPERATING REVENUES: Rental income $ 6,024 $ 9,539 $ 12,994 $ 19,746 Crop
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non-GAAP Financial Measures The Company considers the following non-GAAP measures to be useful to investors as key supplemental measures of its performance: FFO, NOI, AFFO, EBITDAre and Adjusted EBITDAre. These non-GAAP financial measures should be considered along with,
Slide 11: EBITDAre and Adjusted EBITDAre
EBITDAre and Adjusted EBITDAre The Company calculates Earnings Before Interest Taxes Depreciation and Amortization for real estate (“EBITDAre”) in accordance with the standards established by Nareit in its September 2017 White Paper. Nareit defines EBITDAre as net income (calculated in accordance wi
Slide 12: Supplemental Information
Supplemental Information Supplemental Information Farmland Partners Inc. Q2 2025 10
Slide 13: Overview Information
Overview Information About Farmland Partners (NYSE: FPI) ● Internally managed REIT that owns and manages high-quality farmland located in agricultural markets throughout North America. ● Approximately 60% of FPI's portfolio (by value) grows primary crops, such as corn, soybeans, wheat, rice, and cot
Slide 14: FPI Second Quarter Financial Review
FPI Second Quarter Financial Review Financial Highlights For the Three Months Ended June 30, March 31, December 31, September 30, June 30, ($ in thousands except per share amounts) 2025 2025 2024 2024 2024 Total operating revenues $ 9,960 $ 10,252 $ 21,474 $ 13,317 $ 11,445 Net income (loss) $ 7,792
Slide 15: Income Statement Overview
Income Statement Overview (in millions) Item Explanation Timing of Cash Timing of Revenue Recognition Fixed Payments • Fixed farm rent • Farm rent: 50% to 100% • Generally straight-lined over the • Solar, wind, recreation rent of individual leases paid term of the lease contract • Tenant reimburseme
Slide 16: Income Statement Details 2025 vs. 2024
Income Statement Details 2025 vs. 2024 (in millions) STFIC!$$RC8CV+I$($RICV+O.F$ -./'(MC1"+%MCG$O($'I".+ P$+'+ICG$"F4(R$F$+IR P.I'/CG$B$+4$CbC>@a- W'("';/$C<'=F$+IR >.RIC.CCa..%RC-./% !"#$%C!'(FCG$+I >(.?CV+R4('+O$ P.I'/CG$B$+4$ @IA$(CVI$FR >(.?C-'/$R !"!# !"#$%$& '(F* '%F+ '%F+ '%F( '%F$ '%F+ '%F%
Slide 17: Year 2025 Outlook
Year 2025 Outlook (in millions, except per share data) 1234'(4R6!"!7 ;(R6!"!7 <'FR6!"!7 !"!# !"!761H42%(8&69(:L2 !"!761H42%(8&69(:L2 !"!761H42%(8&69(:L2 A%&'(F *H, J.LM *H, J.LM *H, J.LM !"#A%C!DEFCGA+I MCCCCC-.L. MCCC.NLO MCCCCCCCC.PLN MCCCCCC.NLO MCCCCCC.PLN MCCCCCCP4LP MCCCCCCP4LR ST8DEVCW"+%VCGA
Slide 18: Portfolio Overview
Portfolio Overview Portfolio ● As of June 30, 2025, the Company's portfolio included approximately 75,900 acres of owned farmland and 49,600 acres of managed farmland. ● 15 states with more than 240 properties plus land and buildings leased to agriculture equipment dealerships in Ohio. ● Portfolio v
Slide 19: Consolidated Balance Sheets — Quarterly
Consolidated Balance Sheets — Quarterly (Unaudited) June 30, March 31, December 31, September 30, June 30, (in thousands) 2025 2025 2024 2024 2024 ASSETS Total real estate, net $ 648,571 $ 714,095 $ 717,843 $ 974,646 $ 975,513 Deposits — 11 — 1 — Cash and cash equivalents and restricted cash 51,073
Slide 20: Consolidated Statement of Operations — Quarterly
Consolidated Statement of Operations — Quarterly (Unaudited) For the Three Months Ended June 30, March 31, December 31, September 30, June 30, (in thousands except per share amounts) 2025 2025 2024 2024 2024 OPERATING REVENUES: Rental income $ 6,024 $ 6,970 $ 17,620 $ 9,753 $ 9,539 Crop sales 1,439
Slide 21: Reconciliation of Non-GAAP Measures — Quarterly
Reconciliation of Non-GAAP Measures — Quarterly (Unaudited) For the Three Months Ended June 30, March 31, December 31, September 30, June 30, (in thousands except per share amounts) 2025 2025 2024 2024 2024 Net income (loss) $ 7,792 $ 2,093 $ 60,256 $ 1,838 $ (2,052) (Gain) loss on disposition of as