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FULL YEAR: FARMLAND PARTNERS' REVENUES DOWN 5%, NET INCOME DOWN 15%
Source: Farmland Partners news release

To view the complete report, click here.

Financial Results
For the three months ended December 31, 2020, the Company recorded net income of $6.4 million and basic net income to common stockholders of $0.10 per share, as compared to net income of $9.8 million and basic net income to common stockholders of $ญญญ0.20 per share for the same period during 2019. For the year ended December 31, 2020, the Company recorded net income of $7.5 million and a basic net loss to common stockholders of $(0.18) per share, as compared to net income of $14.9 million and basic net income to common stockholders of $0.04 per share for the same period during 2019.

For the three months ended December 31, 2020, the Company recorded Adjusted Funds from Operations ("AFFO") of $5.0 million and AFFO per fully diluted share of $0.16, as compared to AFFO of $9.0 million and AFFO per fully diluted share of $0.28 for the same period during 2019. For the year ended December 31, 2020, the Company recorded AFFO of $1.8 million and AFFO per fully diluted share of $0.06, as compared to AFFO of $4.4 million and AFFO per fully diluted share of $0.13 for the same period during 2019.

For the three months ended December 31, 2020, the Company recorded Adjusted Earnings Before Interest Taxes Depreciation and Amortization for real estate ("Adjusted EBITDAre") of $12.0 million, as compared to $16.9 million for the same period during 2019. For the year ended December 31, 2020, the Company recorded Adjusted EBITDAre of $31.3 million, as compared to $36.4 million for the same period during 2019.

See "Non-GAAP Financial Measures" for complete definitions of AFFO and Adjusted EBITDAre and the financial tables accompanying this press release for reconciliations of net income to AFFO and Adjusted EBITDAre.


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