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GLADSTONE LAND Corp (LAND)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   10-K10-K10-K10-K10-K10-K10-K10-K
Revenues:  
    Rental revenue        17.311.9
    Tenant recovery revenue        0.00.0
Total revenues   [+]89.275.357.040.736.725.117.311.9
            Revenue growth   [+]18.5%32.1%40.2%10.9%46.0%45.1%45.5%65.6%
Cost of goods sold  0.00.00.00.025.613.80.0-0.3
Gross profit  89.275.357.040.711.111.317.312.2
            Gross margin  100.0%100.0%100.0%100.0%30.3%45.1%100.0%102.7%
Selling, general and administrative   [+]2.72.12.12.01.81.61.41.2
Equity in earnings  -0.1-0.10.0     
Other operating expenses  24.019.814.68.8-28.5-18.63.52.8
EBITDA   [+]62.453.340.429.937.928.412.58.1
            EBITDA margin  69.9%70.8%70.8%73.6%103.2%112.9%72.1%68.5%
Depreciation  34.425.915.011.28.37.24.42.3
EBITA  28.027.425.418.829.621.18.05.9
            EBITA margin  31.4%36.4%44.5%46.1%80.6%84.1%46.4%49.4%
Amortization of intangibles  1.01.31.71.61.1 0.70.8
EBIT   [+]27.026.123.717.228.521.17.35.0
            EBIT margin  30.3%34.7%41.6%42.2%77.6%84.1%42.2%42.3%
Non-recurring items        0.20.5
Interest expense  25.724.920.616.314.011.66.74.2
Other income (expense), net   [+]3.42.31.90.9-11.8-9.60.10.2
Pre-tax income  4.73.55.01.82.80.00.50.6
Income taxes  0.00.00.00.00.10.00.00.0
            Tax rate  0.2%0.5%0.6%1.2%5.0%8.8%5.3%0.0%
Minority interest  0.00.00.00.00.10.00.0 
Net income  -15.0-8.8-4.4-2.52.30.00.40.6
            Net margin  -16.8%-11.6%-7.7%-6.1%6.1%-0.1%2.6%4.8%
   
Basic EPS   [+]($0.43)($0.29)($0.20)($0.13)$0.15$0.00$0.04$0.07
Diluted EPS   [+]($0.43)($0.29)($0.20)($0.13)$0.15$0.00$0.04$0.07
   
Dividends per share   [+]$0.55$0.54$0.54$0.53$0.53$0.52$0.50$0.47
   
Shares outstanding (basic)   [+]34.630.422.319.615.512.110.08.6
Shares outstanding (diluted)   [+]34.630.422.319.615.512.110.08.6
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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