Farmland Partners Inc. reported a significant net loss for the third quarter of 2026, driven largely by non-cash impairments and increased credit reserves. Total operating revenues fell to $9.8 million, missing analyst expectations, while the company responded to macroeconomic pressures by writing down asset values in California and lowering its full-year earnings outlook.
Key Highlights
- Net loss reached $15.5 million, or $0.36 per share, primarily due to $12.0 million in asset impairments related to the company's strategic exit from California properties.
- Total operating revenues declined 13.1% year-over-year to $9.78 million, impacted by lower crop sales and rental income.
- Management lowered full-year 2026 AFFO guidance, citing $2.3 million in new credit loss reserves and a $3.5 million appellate court damage award involving former tenants.
- The company utilized its share repurchase program to buy back 1.65 million shares at a weighted average price of $10.32 during the quarter.