Farmland Partners, Inc. (NYSE:FPI) Q2 2023 Earnings Conference Call July 27, 2023 11:00 AM ET

Company Participants

Luca Fabbri - President, Chief Executive Officer & Director

James Gilligan - Chief Financial Officer

Christine Garrison - General Counsel

Paul Pittman - Executive Chairman and Director

Conference Call Participants

Robert Stevenson - Janney Montgomery Scott

Craig Kucera - B. Riley Securities

Operator

Good morning. My name is Rob, and I will be your conference operator today. At this time, I would like to welcome everyone to the Farmland Partners, Inc. Second Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]. Thank you. Luca Fabbri, President and CEO. You may begin your conference.

Luca Fabbri

Thank you, Rob. Good morning, everyone, and welcome to Farmland Partners Second Quarter Earnings Conference Call and Webcast. It has been a busy quarter and frankly, busy first half of the year here for Farmland Partners. So I especially welcome the opportunity to -- for myself and the rest of the team to explain a little bit more and give a little bit more color about what we have been doing and what we are planning to do. And I appreciate your taking the time to join us for this call. I will now turn over the call to our General Counsel, Christine Garrison, for some customary preliminary remarks. Christine?

Christine Garrison

Thanks, Luca, and thank you to everyone on the call. The press release announcing our second quarter earnings was distributed after market closed yesterday. The supplemental package has been posted to the Investor Relations section of our website under the sub-header Events and Presentations. For those of you who listen to the recording of this presentation, we remind you that the remarks made herein are as of today, July 27, 2023 and will not be updated subsequent to this call.

During this call, we will make forward-looking statements, including statements related to the future performance of our portfolio, our identified and potential acquisitions and dispositions, impact of acquisitions, dispositions and financing activities, business development opportunities as well as comments on our outlook for our business rents and the broader agricultural markets.

We will also discuss certain non-GAAP financial measures including net operating income, FFO, adjusted FFO, EBITDAre and adjusted EBITDAre. Definitions of these non-GAAP measures as well as reconciliations to the most comparable GAAP measures are included in the company's press release announcing second quarter earnings, which is available on our website, farmlandpartners.com, and is furnished as an exhibit to our current report on Form 8-K dated July 26, 2023.