Gladstone Land Corporation (NASDAQ:LAND) Q2 2022 Earnings Conference Call August 10, 2022 8:30 AM ET
Company Participants
David Gladstone - Chief Executive Officer & President
Michael LiCalsi - General Counsel & Secretary
Lewis Parrish - Chief Financial Officer
Conference Call Participants
Rob Stevenson - Janney
Edward Riley - EF Hutton
John Massocca - Ladenburg Thalmann
Operator
Greetings, and welcome to the Gladstone Land Second Quarter Earnings and Webcast Conference 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, David Gladstone, Chief Executive Officer and President. Thank you, sir. You may begin.
David Gladstone
Thank you, Latonia, for that nice introduction. This is David Gladstone, and welcome to the quarter, the conference call for Gladstone Land. Thank you all for calling in today. We appreciate you taking time on your busy day to listen to our presentation.
We always start out with Michael LiCalsi. He's our General Counsel and Secretary. He's also president of the administration side of the business. Michael?
Michael LiCalsi
Thanks, David. Good morning, everybody. Today's report may include forward-looking statements under Securities Act of 1933 and 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 the risk factors in our forms 10-K and 10-Q that we file with the SEC. You can find them on the Investors page of our website at gladstoneland.com. You’d also find them on the SEC's website and that’s sec.gov.
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.
And today, we'll discuss FFO, which is, funds from operations. FFO is a non-GAAP accounting term, defined as net income, excluding the gains and losses from the sale of real estate and any impairment losses from property, plus depreciation and amortization of real estate assets.
We may also discuss core FFO, which is generally FFO adjusted for certain non-recurring revenues and expenses, and adjusted FFO, which further adjusts core FFO for certain non-cash items, such as converting GAAP rents to normalized cash rents.