EarningsQ2 2026 Earnings Report
DE:0FA Q2 2026 EPS Results
Actual EPS€0.06
Consensus EPS€0.01
Beat/MissBeat by +€0.05
One Year Ago EPS€0.12
DE:0FA Q2 2026 Revenue Results
Actual Revenue€8.35M
Expected Revenue€5.01M
Beat/MissBeat by +€3.34M
YoY Revenue Growth-5.65%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
DE:0FA Upcoming Earnings
Farmland's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:0FA Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mixed picture: operational cash-flow (AFFO) trends and liquidity metrics improved modestly, guidance was nudged up on the low end, and borrowing costs edged lower. However, GAAP net income fell sharply year-over-year due to fewer prior-year dispositions, credit loss reserves increased related to a distressed borrower, and the company faces persistent regional headwinds in California that affected crop yields and valuations. Management emphasized conservative reserve-building, measured disposition of noncore assets, and a cautious approach to lease renewals and buybacks.Company Guidance
AFFO Growth
AFFO for Q2 2026 was $1.7M ($0.04 per weighted average share) versus $1.3M ($0.03) in Q2 2025, an increase of ~30.8% in AFFO dollars and ~33.3% on a per-share basis. AFFO for the six months was $3.8M ($0.09 per share) versus $3.6M ($0.08), an increase of ~5.6% in dollars and ~12.5% per share.
AFFO Guidance Raised on Low End
Full-year AFFO guidance updated to $13.5M–$15.3M ($0.31–$0.35 per share); the company modestly increased the low end of the prior range, indicating improved near-term cash-flow expectations.
Improved Capital Availability
Undrawn capacity on lines of credit of approximately $122M at quarter end and no borrowings during Q2; $8M of repayments in the quarter, supporting liquidity and flexibility.
Lower Average Borrowing Rate
One loan rate reset and one extension occurred; average rate on loans decreased from 5.64% to 5.25%, reducing interest expense pressure on the capital structure.
Realized Property Gain
Recorded a $3.6M gain on a property disposition (Illinois solar development sale), which partially offset other headwinds and contributed to the revised outlook.
Operating Expense Reductions
Operating expenses declined year-over-year due to prior-year property dispositions and reductions in G&A and legal fees, and lower property impairment charges in the quarter-to-date and year-to-date periods.
Conservative Credit Loss Reserve Management
Management is proactively building reserves against the ~$60M loan program to mitigate risk from distressed borrowers; approach is deliberate and intended to protect shareholders against future credit losses.
DE:0FA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed