Earnings Call Summary | Farmland Partners Inc(FPI.US) Q1 2024 Earnings Conference
Earnings Call Summary | Farmland Partners Inc(FPI.US) Q1 2024 Earnings Conference
The following is a summary of the Farmland Partners, Inc. (FPI) Q1 2024 Earnings Call Transcript:
以下是 Farmland Partners, Inc. (FPI) 2024年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Farmland Partners Inc. reported a Q1 2024 net income of $1.4 million with a net income per share available to common stockholders of $0.01.
Their AFFO stood at $2.8 million, and their AFFO per share was at $0.06.
The company has managed to cut overheads by around 13% as a result of their cost-control measures.
The decreased fixed farm rent was primarily due to dispositions in 2023.
Despite the decrease in revenue from a significant solar project transitioning to operational phase, revenues were offset by increases from other sources like tenant reimbursements, management fee and interest income, and directly operated farms.
For 2024, they expect revenue increase from higher performing citrus farms, new acquisitions, and certain lease modifications.
Farmland Partners Inc.報告稱，2024年第一季度淨收入爲140萬美元，普通股股東可獲得的每股淨收益爲0.01美元。
他們的AFFO爲280萬美元，每股AFFO爲0.06美元。
由於採取了成本控制措施，該公司設法將管理費用削減了約13％。
固定農場租金下降的主要原因是2023年的處置。
儘管一個過渡到運營階段的重大太陽能項目的收入有所減少，但收入被租戶報銷、管理費和利息收入以及直接經營的農場等其他來源的增加所抵消。
他們預計，到2024年，業績更高的柑橘農場、新的收購和某些租賃修改將增加收入。
Business Progress:
業務進展：
The company made three acquisitions in the first quarter of 2024.
Going ahead, the company aims to reduce exposure to the U.S. West Coast and Colorado High Plains due to water limitations.
Strategic expansion in current farming regions is on the cards, along with potential sale of certain farms in California.
Despite a valuation gap in their stock price, they are evaluating further asset sales and stock buyback options to create value.
The company aims to adopt a more measured approach in executing disposition activities in 2024, considering the regulatory constraints of being an REIT.
該公司在2024年第一季度進行了三次收購。
展望未來，該公司的目標是減少因水資源限制而對美國西海岸和科羅拉多高原的暴露。
當前農業地區的戰略擴張即將到來，加利福尼亞的某些農場也有可能出售。
儘管股價存在估值差距，但他們正在評估進一步的資產出售和股票回購選項以創造價值。
考慮到房地產投資信託基金的監管限制，該公司的目標是在2024年採取更加謹慎的方法執行處置活動。
More details: Farmland Partners Inc IR
更多詳情： 農田合作伙伴公司投資者關係
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。