Farmland Partners Q2 net loss $2.1M; AFFO turns positive to $0.5M

Farmland Partners Inc.

2024-Q2 EPS reported -$0.05 revenue$23,435,000

Net loss of $2.1M ($0.06/share) vs net income $7.9M ($0.14) a year ago; prior period included $11.1M gain on sale.
AFFO of $0.5M ($0.01/share) improved from ($1.1M) in Q2 2023; excludes $1.4M severance expense.
Total operating revenues down 1.2% to $11.4M; operating expenses decreased 7.0%.
Adjusted EBITDAre up 20.8% to $6.5M; Net operating income up 7.8%.
Appointed Susan Landi as CFO and Treasurer; portfolio dispositions in 2023 lowered debt and improved efficiency.

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