FPI — what changed in the latest 10-Q
A section-by-section comparison of FPI's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-30 vs the prior 10-Q · 2026-04-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +31 | −12 | ~49 | 62 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 3 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-30
The reduction in our net income for the three months ended June 30, 2026 as compared to the three months ended June 30, 2025 was primarily the result of dispositions that occurred in 2025 and 2026, as well as lower crop sales, partially offset by higher interest income, and lower cost of goods sold,…
Rental income decreased $0.3 million, or 5.3%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025, resulting primarily from dispositions that occurred in 2025 and 2026.
Provision for credit loss allowance increased $0.8 million for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. This increase was primarily the result of updated assumptions on the allowance for credit losses and increases in principal balances on loans under th…
Legal and accounting expenses decreased $0.3 million, or 52.5%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. The decrease was due to lower expenses associated with litigation-related matters during the three months ended June 30, 2026 as compared to the …
Impairment of assets was $0.8 million for the three months ended June 30, 2026 compared to $16.8 million for the three months ended June 30, 2025. Impairment during the three months ended June 30, 2025 related to certain properties on the West Coast while impairment during the three months ended Jun…
Text removed vs the prior filing · source: 10-Q · 2026-04-30
food demand will generally lead to only temporary dislocations in crop supply chains for the major commodity crops, and therefore farmland values will not be significantly impacted.
Our net income for the three months ended March 31, 2026 was primarily affected by dispositions that occurred in 2025 and 2026, as well as lower proceeds from a solar lease arrangement with a tenant and crop sales and a higher provision for credit loss allowance, partially offset by higher interest …
Rental income decreased $0.7 million, or 9.7%, for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, resulting primarily from dispositions that occurred in 2025 and 2026 and lower proceeds from a solar lease arrangement with a tenant compared to the three month…
Provision for credit loss allowance increased $1.8 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025. This increase was primarily the result of updated assumptions on the allowance for credit losses on loans under the FPI Loan Program and financing r…
Legal and accounting expenses remained relatively flat at $0.4 million for the three months ended March 31, 2026 and 2025.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice