Farmland Partners Q3 revenue falls 13% on asset impairments
FPI•Farmland Partners’ third-quarter operating revenue fell 13% year over year to $9.78 million, with $12 million in asset impairments. The company reported a $15.51 million net loss and lowered its 2026 AFFO-per-share guidance due to credit loss reserves and litigation risk.
1. Quarterly results
Farmland Partners reported third-quarter operating revenue of $9.78 million, down 13% year over year, and a net loss of $15.51 million, or $0.36 per share. Adjusted funds from operations was negative $2.09 million.
2. Impairments and outlook
The company recorded $12 million in impairments on California assets due to macroeconomic factors and lowered its 2026 AFFO-per-share guidance because of credit loss reserves and litigation risk. CEO Luca Fabbri said negative news in credit and litigation affected the quarter.
3. Share repurchases
Farmland Partners repurchased 1.7 million shares under its buyback program. It also completed a $1 million California property sale, recognizing a small loss as it continued reducing its exposure to the state.
