Gladstone Commercial Corporation (NASDAQ:GOOD) Q2 2024 Earnings Conference Call August 7, 2024 8:30 AM ET
Company Participants
David Gladstone - Chief Executive Officer
Michael LiCalsi - General Counsel & Secretary
Buzz Cooper - President
Gary Gerson - Chief Financial Officer
Conference Call Participants
Gaurav Mehta - Alliance Global Partners
Rob Stevenson - Janney
Dave Storms - Stonegate
John Massocca - B. Riley Securities
Operator
Greetings, and welcome to the Gladstone Commercial Corporation Second Quarter 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, David Gladstone. Thank you, Mr. Gladstone, you may begin.
David Gladstone
Well, thank you for that nice introduction and thanks to all of you for calling in. We enjoy this time talking with you guys and the analysts that call in. We have a good time on these shows and would like to have a lot of good questions this time.
Now, we'll hear from Michael LiCalsi, our General Counsel, and he's also Secretary, to give a few legal regulatory matters concerned from this call. Michael?
Michael LiCalsi
Thanks, and good morning, everybody.
Today's report may include forward-looking statements under the Securities Act of 1933 and Securities Exchange Act of 1934, including those regarding our future performance. 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 10-Qs and 10-Ks that we file with the SEC. You can find them on our website, specifically the Investors page, that's gladstonecommercial.com, or on the SEC's website, which is www.sec.gov. Now, 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. And FFO is a non-GAAP accounting term defined as net income, excluding the gains or losses from the sale of real estate and any impairment losses on property, plus depreciation and amortization of real estate assets. We'll also discuss core FFO, which is generally FFO adjusted for certain other non-recurring revenues and expenses. We believe these metrics are a better indication of our operating results and allow better comparability of our period-over-period performance.