Gladstone Land Corp
NASDAQ:LAND
Income Statement
Earnings Waterfall
Gladstone Land Corp
Income Statement
Gladstone Land Corp
| Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | Dec-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
2
|
2
|
3
|
3
|
4
|
4
|
4
|
5
|
5
|
6
|
7
|
8
|
9
|
10
|
10
|
11
|
12
|
12
|
13
|
13
|
15
|
16
|
18
|
19
|
20
|
21
|
22
|
23
|
24
|
25
|
25
|
26
|
26
|
26
|
25
|
25
|
24
|
24
|
23
|
23
|
22
|
22
|
22
|
0
|
0
|
0
|
|
| Revenue |
3
N/A
|
3
+3%
|
3
+4%
|
3
+3%
|
4
+4%
|
4
+4%
|
4
+7%
|
5
+15%
|
5
+13%
|
6
+15%
|
7
+19%
|
8
+16%
|
10
+15%
|
11
+14%
|
12
+10%
|
13
+9%
|
14
+11%
|
16
+10%
|
17
+10%
|
19
+12%
|
21
+9%
|
23
+10%
|
25
+8%
|
29
+14%
|
34
+19%
|
35
+4%
|
37
+3%
|
35
-4%
|
32
-9%
|
35
+9%
|
41
+15%
|
48
+18%
|
52
+9%
|
55
+6%
|
57
+3%
|
58
+1%
|
62
+7%
|
68
+9%
|
75
+11%
|
79
+5%
|
83
+4%
|
87
+6%
|
89
+2%
|
90
+1%
|
91
+1%
|
91
-1%
|
90
0%
|
89
-1%
|
90
+0%
|
89
-1%
|
85
-4%
|
82
-4%
|
73
-11%
|
68
-7%
|
88
+30%
|
|
| Gross Profit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(5)
|
(5)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(8)
|
(9)
|
(10)
|
(10)
|
(11)
|
(11)
|
(12)
|
(12)
|
(12)
|
(13)
|
(12)
|
(13)
|
(13)
|
(14)
|
(14)
|
(14)
|
(14)
|
(24)
|
|
| Gross Profit |
3
N/A
|
3
+1%
|
3
+6%
|
3
+2%
|
3
+5%
|
4
+9%
|
4
+5%
|
4
+10%
|
4
+9%
|
5
+9%
|
6
+18%
|
7
+16%
|
8
+16%
|
9
+16%
|
10
+11%
|
11
+10%
|
12
+13%
|
14
+11%
|
15
+11%
|
17
+13%
|
19
+9%
|
20
+10%
|
22
+7%
|
25
+14%
|
30
+20%
|
31
+3%
|
32
+3%
|
30
-6%
|
26
-12%
|
29
+11%
|
35
+19%
|
42
+22%
|
46
+10%
|
49
+6%
|
51
+3%
|
51
+1%
|
55
+7%
|
60
+8%
|
67
+11%
|
70
+4%
|
72
+4%
|
77
+6%
|
78
+2%
|
79
+1%
|
80
+1%
|
79
-1%
|
78
-1%
|
77
-1%
|
77
0%
|
75
-2%
|
72
-5%
|
68
-5%
|
59
-13%
|
54
-8%
|
64
+18%
|
|
| Operating Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(5)
|
(5)
|
(5)
|
(6)
|
(7)
|
(8)
|
(9)
|
(9)
|
(10)
|
(10)
|
(13)
|
(19)
|
(19)
|
(20)
|
(17)
|
(12)
|
(13)
|
(15)
|
(19)
|
(21)
|
(22)
|
(23)
|
(25)
|
(27)
|
(31)
|
(35)
|
(37)
|
(40)
|
(42)
|
(43)
|
(43)
|
(44)
|
(44)
|
(44)
|
(44)
|
(43)
|
(42)
|
(40)
|
(40)
|
(39)
|
(39)
|
(40)
|
|
| Selling, General & Administrative |
(1)
|
(1)
|
(0)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(3)
|
(4)
|
(5)
|
(6)
|
(6)
|
(7)
|
(6)
|
(6)
|
(7)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(6)
|
(5)
|
(6)
|
(5)
|
(5)
|
(8)
|
|
| Depreciation & Amortization |
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(5)
|
(5)
|
(6)
|
(6)
|
(7)
|
(7)
|
(8)
|
(9)
|
(9)
|
(9)
|
(10)
|
(10)
|
(12)
|
(13)
|
(14)
|
(15)
|
(16)
|
(17)
|
(18)
|
(21)
|
(24)
|
(27)
|
(29)
|
(32)
|
(34)
|
(35)
|
(36)
|
(37)
|
(37)
|
(37)
|
(37)
|
(37)
|
(36)
|
(35)
|
(35)
|
(34)
|
(34)
|
(35)
|
|
| Other Operating Expenses |
(0)
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
(7)
|
(7)
|
(7)
|
(4)
|
2
|
2
|
2
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
2
|
|
| Operating Income |
1
N/A
|
2
+30%
|
2
+7%
|
2
-13%
|
2
-5%
|
2
N/A
|
2
-11%
|
2
+3%
|
2
+13%
|
2
N/A
|
2
+21%
|
3
+33%
|
3
+19%
|
4
+25%
|
5
+21%
|
5
+7%
|
6
+10%
|
7
+12%
|
7
+10%
|
8
+15%
|
10
+16%
|
11
+10%
|
12
+7%
|
12
+3%
|
11
-4%
|
12
+2%
|
12
+5%
|
13
+4%
|
14
+13%
|
16
+15%
|
19
+18%
|
23
+21%
|
25
+9%
|
27
+7%
|
28
+2%
|
27
-4%
|
28
+5%
|
29
+4%
|
32
+9%
|
32
+2%
|
33
+2%
|
35
+7%
|
35
+0%
|
36
+2%
|
36
0%
|
35
-3%
|
34
-3%
|
33
-1%
|
33
+0%
|
33
-1%
|
31
-5%
|
28
-11%
|
20
-29%
|
16
-21%
|
24
+54%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(5)
|
(5)
|
(6)
|
(7)
|
(8)
|
(9)
|
(10)
|
(10)
|
(11)
|
(12)
|
(12)
|
(13)
|
(13)
|
(15)
|
(16)
|
(18)
|
(19)
|
(20)
|
(21)
|
(22)
|
(23)
|
(24)
|
(25)
|
(25)
|
(26)
|
(26)
|
(26)
|
(25)
|
(25)
|
(24)
|
(24)
|
(23)
|
(23)
|
(22)
|
(22)
|
(22)
|
(21)
|
(20)
|
(20)
|
|
| Non-Reccuring Items |
0
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
0
|
(0)
|
(2)
|
(2)
|
(2)
|
(2)
|
(0)
|
(4)
|
|
| Gain/Loss on Disposition of Assets |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
6
|
5
|
5
|
5
|
(1)
|
(0)
|
(0)
|
(1)
|
(1)
|
(2)
|
(3)
|
(3)
|
(3)
|
(2)
|
(3)
|
(2)
|
(3)
|
(4)
|
(4)
|
2
|
3
|
4
|
16
|
7
|
6
|
6
|
11
|
12
|
16
|
14
|
|
| Total Other Income |
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(1)
|
(3)
|
(3)
|
(3)
|
(2)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
0
|
1
|
0
|
(0)
|
(1)
|
(0)
|
(0)
|
0
|
0
|
0
|
1
|
1
|
1
|
0
|
1
|
1
|
0
|
(0)
|
(0)
|
(1)
|
(1)
|
|
| Pre-Tax Income |
1
N/A
|
1
+51%
|
1
+5%
|
1
-19%
|
1
-30%
|
1
+6%
|
0
-44%
|
0
-27%
|
(0)
N/A
|
(0)
+13%
|
(0)
+23%
|
(0)
N/A
|
0
N/A
|
0
+63%
|
1
+119%
|
1
+39%
|
1
+19%
|
1
-19%
|
0
-38%
|
0
-15%
|
1
+35%
|
0
-52%
|
(0)
N/A
|
(1)
-1 667%
|
(3)
-398%
|
4
N/A
|
3
-24%
|
3
+16%
|
5
+63%
|
(0)
N/A
|
2
N/A
|
5
+170%
|
5
+0%
|
6
+22%
|
5
-15%
|
2
-52%
|
2
-30%
|
2
-5%
|
4
+118%
|
4
+18%
|
5
+27%
|
6
+6%
|
5
-16%
|
5
+12%
|
13
+137%
|
14
+11%
|
15
+5%
|
26
+81%
|
18
-33%
|
15
-18%
|
13
-9%
|
15
+12%
|
8
-48%
|
10
+27%
|
14
+37%
|
|
| Net Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(2)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Income from Continuing Operations |
0
|
1
|
1
|
0
|
0
|
0
|
(1)
|
(1)
|
(2)
|
(1)
|
(0)
|
(0)
|
0
|
0
|
1
|
1
|
1
|
1
|
0
|
0
|
1
|
0
|
(0)
|
(1)
|
(3)
|
4
|
3
|
3
|
5
|
(0)
|
2
|
5
|
5
|
6
|
5
|
2
|
2
|
2
|
4
|
4
|
5
|
6
|
5
|
5
|
13
|
14
|
15
|
26
|
18
|
15
|
13
|
15
|
8
|
10
|
14
|
|
| Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Net Income (Common) |
0
N/A
|
1
+87%
|
1
+3%
|
0
-18%
|
0
-27%
|
0
-11%
|
(1)
N/A
|
(1)
-3%
|
(2)
-26%
|
(1)
+6%
|
(0)
+91%
|
(0)
N/A
|
0
N/A
|
0
+79%
|
1
+128%
|
1
+37%
|
1
+18%
|
1
-20%
|
0
-39%
|
0
-20%
|
0
+33%
|
0
-52%
|
(0)
N/A
|
(0)
-1 500%
|
(2)
-413%
|
3
N/A
|
2
-33%
|
2
-9%
|
3
+50%
|
(3)
N/A
|
(3)
+21%
|
(1)
+57%
|
(2)
-127%
|
(3)
-8%
|
(4)
-67%
|
(8)
-72%
|
(9)
-18%
|
(10)
-9%
|
(9)
+10%
|
(9)
-6%
|
(10)
-4%
|
(12)
-20%
|
(15)
-29%
|
(17)
-11%
|
(11)
+34%
|
(10)
+6%
|
(10)
+5%
|
2
N/A
|
(6)
N/A
|
(9)
-44%
|
(10)
-13%
|
(9)
+16%
|
(16)
-82%
|
(14)
+12%
|
(10)
+26%
|
|
| EPS (Diluted) |
0.12
N/A
|
0.21
+75%
|
0.22
+5%
|
0.09
-59%
|
0.05
-44%
|
0.04
-20%
|
-0.2
N/A
|
-0.2
N/A
|
-0.25
-25%
|
-0.23
+8%
|
-0.02
+91%
|
-0.02
N/A
|
0.03
N/A
|
0.03
N/A
|
0.07
+133%
|
0.08
+14%
|
0.09
+12%
|
0.07
-22%
|
0.04
-43%
|
0.03
-25%
|
0.04
+33%
|
0.02
-50%
|
0
N/A
|
-0.03
N/A
|
-0.16
-433%
|
0.21
N/A
|
0.15
-29%
|
0.13
-13%
|
0.16
+23%
|
-0.15
N/A
|
-0.13
+13%
|
-0.06
+54%
|
-0.12
-100%
|
-0.13
-8%
|
-0.2
-54%
|
-0.28
-40%
|
-0.3
-7%
|
-0.31
-3%
|
-0.29
+6%
|
-0.29
N/A
|
-0.28
+3%
|
-0.33
-18%
|
-0.43
-30%
|
-0.47
-9%
|
-0.31
+34%
|
-0.29
+6%
|
-0.28
+3%
|
0.06
N/A
|
-0.18
N/A
|
-0.26
-44%
|
-0.29
-12%
|
-0.25
+14%
|
-0.44
-76%
|
-0.39
+11%
|
-0.29
+26%
|
|