Quarterly ResultMay 11, 2026, 04:15 PM
Gladstone Land Reports Q1 Net Loss of $4.3M; EPS $(0.24)
AI Summary
Gladstone Land Corporation reported a net loss of $4.3 million for the first quarter of 2026, a significant decline from a net income of $15.1 million in the prior year period. Net loss attributable to common stockholders was $9.985 million, or $(0.24) per share, compared to net income of $9.106 million, or $0.25 per share, in Q1 2025. Total operating revenues slightly decreased to $16.552 million, while operating expenses rose to $16.601 million, partly due to an $0.9 million impairment charge. The company also redeemed $60.4 million in Series D preferred stock and issued $37.1 million in common equity.
Key Highlights
- Net loss of $4.3 million in Q1 2026, down from $15.1 million net income in Q1 2025.
- Basic and diluted EPS was $(0.24) in Q1 2026, compared to $0.25 in Q1 2025.
- Total operating revenues decreased 1.5% to $16.552 million in Q1 2026.
- Total operating expenses increased 26.5% to $16.601 million in Q1 2026.
- Recognized an impairment charge of $0.9 million on a Florida property in Q1 2026.
- Redeemed $60.4 million of Series D cumulative term preferred stock in Q1 2026.
- Issued $37.1 million in common equity during the first quarter of 2026.
- Net cash provided by operating activities increased 108% to $9.295 million.