Gladstone Land Corporation (NASDAQ:LAND) Q4 2022 Earnings Conference Call February 22, 2023 8:30 AM ET

Company Participants

David Gladstone - President and CEO

Michael LiCalsi - President, Gladstone Administration, General Counsel and Secretary

Lewis Parrish - Chief Financial Officer

Conference Call Participants

Gaurav Mehta - EF Hutton

Rob Stevenson - Janney Montgomery Scott

John Massocca - Ladenburg Thalmann

Craig Kucera - B Riley Securities

Operator

Greetings. And welcome to the Gladstone Land Corporation Fiscal Year End Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]

As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, CEO and President, David Gladstone. Thank you, David. You may begin.

David Gladstone

Well, thank you, Paul. That was a nice introduction and this is David Gladstone. And welcome to the quarterly conference call for Gladstone Land. This is also our year end, so you get a double barrel place in our systems of things if we are going to tell you about and thank you all for calling in today. We appreciate you taking the time to listen to our presentation. We always start off with Michael LiCalsi. He’s our General Counsel and Secretary and he is the President of Gladstone Administration, the administrator for all of Gladstone funds.

Michael, you are up.

Michael LiCalsi

Thanks, David. Good morning, everybody. Today’s report may include forward-looking statements under the Securities Act of 1933, Securities Exchange Act of 1934, including those regarding our future performance. These forward-looking statements involve certain risks and uncertainties that are based on our current plans, which we believe to be reasonable.

Many factors may cause our actual results to be materially different from any future results expressed or implied by these forward-looking statements including all risk factors in our Forms 10-Q, 10-K and other documents we file with the SEC.

You can find these on our website at gladstoneland.com, specifically the Investors page or on the SEC’s website at www.sec.gov. And we undertake no obligation to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Today we will discuss FFO, which is funds from operations. Now FFO is a non-GAAP accounting term, defined as net income, excluding the gains or losses from the sale of real estate and the impairment losses from property, plus depreciation and amortization of real estate assets.