Gladstone Land Corporation (LAND)

Gladstone Land Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Rental Revenue	88.04	90.32	89.24	75.32	57.03	40.69
Other Revenue	0.41	0.02	-0.07	-0.06	-0	-
Total Revenue	88.45	90.34	89.16	75.26	57.03	40.69
Revenue Growth (YoY	-2.41%	1.32%	18.48%	31.97%	40.14%	10.92%
Property Expenses	13.39	12.8	11.13	8.87	6.14	6.1
Selling, General & Administrative	6.1	6.95	7.94	7.57	6.59	3.97
Depreciation & Amortization	36.16	37.16	35.37	27.18	16.66	12.79
Other Operating Expenses	-	-	-	-	-	-1.54
Total Operating Expenses	55.66	56.92	54.44	43.61	29.38	21.31
Operating Income	32.8	33.42	34.73	31.64	27.65	19.38
Interest Expense	-25.34	-26.68	-28.76	-27.95	-22.45	-18.16
Interest & Investment Income	3.56	3.63	2.9	2.29	-	0.7
Other Non-Operating Income	-	-	-0.31	-	1.87	0.24
EBT Excluding Unusual Items	11.02	10.37	8.56	5.98	7.07	2.16
Merger & Restructuring Charges	-	-	-0.03	-	-	-0.08
Gain (Loss) on Sale of Assets	5.94	5.21	-3.76	-2.54	-2.18	-0.33
Total Insurance Settlements	-	-	-	0.07	0.07	0.01
Asset Writedown	-2.11	-	-	-	-	-
Other Unusual Items	-0.28	-1.02	-0.06	-	-	-
Pretax Income	14.57	14.57	4.72	3.51	4.96	1.76
Earnings From Continuing Operations	14.57	14.57	4.72	3.51	4.96	1.76
Minority Interest in Earnings	-	-	-0.01	-0.02	-0.03	-0.02
Net Income	14.57	14.57	4.71	3.5	4.93	1.74
Preferred Dividends & Other Adjustments	23.86	24.42	19.72	12.26	9.32	4.24
Net Income to Common	-9.29	-9.85	-15.01	-8.76	-4.4	-2.5
Net Income Growth	5.14%	209.37%	34.71%	-29.05%	182.94%	-33.78%
Basic Shares Outstanding	36	36	35	30	22	20
Diluted Shares Outstanding	36	36	35	30	22	20
Shares Change (YoY)	1.00%	3.39%	13.86%	36.39%	13.55%	26.44%
EPS (Basic)	-0.26	-0.28	-0.43	-0.29	-0.20	-0.13
EPS (Diluted)	-0.26	-0.28	-0.43	-0.29	-0.20	-0.13
Dividend Per Share	0.559	0.553	0.546	0.541	0.537	0.534
Dividend Growth	1.25%	1.32%	1.03%	0.67%	0.53%	0.45%
Operating Margin	37.08%	37.00%	38.95%	42.05%	48.48%	47.63%
Profit Margin	-10.50%	-10.91%	-16.83%	-11.64%	-7.71%	-6.14%
Free Cash Flow Margin	40.01%	44.37%	49.11%	43.02%	43.84%	52.52%
EBITDA	69.36	71.12	69.61	58.25	44.09	31.84
EBITDA Margin	78.41%	78.72%	78.07%	77.39%	77.31%	78.24%
D&A For Ebitda	36.56	37.7	34.88	26.6	16.44	12.45
EBIT	32.8	33.42	34.73	31.64	27.65	19.38
EBIT Margin	37.08%	37.00%	38.95%	42.05%	48.48%	47.63%
Funds From Operations (FFO)	23.12	22.19	24.18	21.01	14.49	10.64
FFO Per Share	-	0.62	0.70	0.69	0.65	0.54
Adjusted Funds From Operations (AFFO)	-	20.32	24.26	20.36	14.35	11.27
AFFO Per Share	-	0.57	0.70	0.67	0.64	0.57
FFO Payout Ratio	86.60%	89.17%	78.13%	78.48%	83.07%	98.30%
Revenue as Reported	88.57	90.4	89.24	75.32	57.03	40.69

Source: S&P Capital IQ. Real Estate template. Financial Sources.