Farmland Partners (FPI) reported $11.62 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 11.6%. EPS of -$0.01 for the same period compares to $0.01 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $12.65 million, representing a surprise of -8.15%. The company has not delivered EPS surprise, with the consensus EPS estimate being -$0.01.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock’s price performance.
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- Crop sales: $0.81 million compared to the $0.90 million average estimate based on two analysts. The reported number represents a change of -67.1% year over year.
- Operating Revenues- Other revenue: $0.67 million versus $1.45 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -5.5% change.
- Operating Revenues- Tenant reimbursements: $0.71 million versus the two-analyst average estimate of $0.88 million. The reported number represents a year-over-year change of -20.2%.
- Operating Revenues- Rental income: $9.43 million versus $9.43 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +3.9% change.
- Net Earnings Per Share (Diluted): $0.07 compared to the $0.07 average estimate based on three analysts.
View all Key Company Metrics for Farmland Partners here>>>
Shares of Farmland Partners have returned +3.7% over the past month versus the Zacks S&P 500 composite’s -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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