Farmland Partners Inc. (NYSE:FPI) Q1 2023 Results Conference Call May 4, 2023 11:00 AM ET

Company Participants

Luca Fabbri - President and CEO

Christine Garrison - General Counsel

Paul Pittman - Executive Chairman

James Gilligan - CFO

Conference Call Participants

Rob Stevenson - Janney

Wes Golladay - Baird

Craig Kucera - B. Riley Securities

Operator

Hello, everyone. And welcome to the Farmland Partners Inc., Q1 2023 Earnings Call. My name is [Chaquan], and I'll be the coordinator for this conference [Operator Instructions].

I would now like to hand over to Luca Fabbri, President and CEO to begin. Please go ahead.

Luca Fabbri

Thank you, [Chaquan]. Good morning. And welcome to the Farmland Partners first quarter earnings conference call and webcast. We truly appreciate you taking the time to join us for this call, because we see them as a very important opportunity to share with you our thinking and our strategy in the format less formal and more interactive than public filings and press releases. I will now turn over the call to our General Counsel, Christine Garrison for some customary preliminary remarks. Christine?

Christine Garrison

Thank you, Luca, and thank you to everyone on the call. The press release announcing our first quarter earnings was distributed after market closed yesterday. The supplemental package has been posted to the investor relations section of our Web site under the sub header events and presentations. For those who listen to the recording of this presentation, we remind you that the remarks made here and our as of today May 4, 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 first quarter earnings, which is available on our Web site, farmlandpartners.com and is furnished as an exhibit to our current report on Form 8-K dated May 3, 2023. Listeners are cautioned that these statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond our control. These risks and uncertainties can cause actual results to differ materially from our current expectations and we advise listeners to review the risk factors discussed in our press release distributed yesterday and in documents we have filed with or furnished to the SEC.