Compared to Estimates, Farmland Partners (FPI) Q2 Earnings: A Look at Key Metrics
Farmland Partners (FPI) reported $11.58 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 6.3%. EPS of -$0.02 for the same period compares to $0.04 a year ago.
The reported revenue represents a surprise of -3.64% over the Zacks Consensus Estimate of $12.02 million. With the consensus EPS estimate being $0.01, the EPS surprise was -300.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Farmland Partners performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Operating Revenues- Rental income: $9.39 million compared to the $9.60 million average estimate based on two analysts. The reported number represents a change of +2.1% year over year.
Operating Revenues- Other income: $0.85 million versus $1.57 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -29.4% change.
Operating Revenues- Crop sales: $0.52 million compared to the $0.79 million average estimate based on two analysts. The reported number represents a change of -55.2% year over year.
Operating Revenues- Tenant reimbursements: $0.83 million versus $0.82 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +2.7% change.
Net Earnings Per Share (Diluted): $0.12 versus the two-analyst average estimate of $0.08.
View all Key Company Metrics for Farmland Partners here>>>
Shares of Farmland Partners have returned +7.2% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Farmland Partners Inc. (FPI) : Free Stock Analysis Report
