Farmland Partners (FPI) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Farmland Partners (FPI) reported a revenue of $13.32 million for the quarter ended September 2024, reflecting a year-over-year increase of 14.6% [1] - The earnings per share (EPS) for the quarter was $0.03, down from $0.07 in the same quarter last year, but exceeded the consensus estimate of $0.01 by 200% [1] - The revenue surpassed the Zacks Consensus Estimate of $11.88 million, resulting in a surprise of 12.07% [1] Revenue Breakdown - Rental income amounted to $9.75 million, exceeding the average estimate of $9.57 million by analysts, with a year-over-year increase of 3.4% [3] - Other revenue was reported at $0.95 million, slightly below the average estimate of $1.01 million, but showed a significant year-over-year increase of 42.3% [3] - Crop sales reached $2.62 million, significantly higher than the estimated $1.37 million, marking a remarkable year-over-year increase of 221.4% [3] Stock Performance - Over the past month, shares of Farmland Partners have returned 8.2%, outperforming the Zacks S&P 500 composite, which saw a change of 1.8% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [4]