Inferra AIResearch Tools

Inferra AI / Company / BNL

Broadstone Net Lease, Inc.

BNL · Real Estate

Last earnings Oct 28, 2026

Key results

Generated net incomequarter

$27.1 million

THIRD QUARTER 2025 HIGHLIGHTS OPERATING RESULTS Generated net income of $27.1 million, or $0.14 per diluted share, representing a 26.3% decrease compared to the same period in the prior year.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Revenuequarter

$5.5 million

INVESTMENT DISPOSITION ACTIVITY Invested $203.9 million quarter-to-date, including $139.5 million in new property acquisitions, $41.0 million in build-to-suit developments, $17.9 million in transitional capital, and $5.5 million in revenue generating capital expenditures.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Through the third quarter, we invested $433.0 million, including $253.2 million in new property acquisitions, $130.8 million in build-to-suit developments, $40.7 million in transitional capital, and $8.3 million in revenue generating capital expenditures.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Additionally, we have $67.0 million of acquisitions under control and $1.0 million of commitments to fund revenue generating capital expenditures with existing tenants.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Operating expensesquarter

$63,417 thousand

Total operating expenses 63,417 69,088 203,289 190,537

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Net incomequarter

$27,065 thousand

Net income 27,065 19,830 64,388 141,382

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

AI analysis

Q3 2025 · reported Oct 29, 2025

Based on: Earnings release + parent 8-K — transcript not held

Revenue · Q3 2025
$5.5M
EX-99 · Oct 29, 2025
Diluted EPS · Q3 2025
$0.14
EX-99 · Oct 29, 2025
Generated net income · Q3 2025
$27.1M
EX-99 · Oct 29, 2025
Operating expenses · Q3 2025
$63,417 thousand
EX-99 · Oct 29, 2025

Headline figures

MetricQ3 2025Prior qtrYear ago
Generated net income$27.1 million——
Revenue$5.5 million——
Operating expenses$63,417 thousand——
Net income$27,065 thousand——

EX-99 · Oct 29, 2025

Guidance · company-stated

Direction: Raised

Company outlook

“As a result, and reflecting our year-to-date success and our ongoing commitment to driving long-term shareholder value, we are raising our full-year guidance to $1.49 to $1.50 of AFFO per share, representing 4.2% to 4.9% growth for the year.”

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

Revenue$5.5M

This quarter we invested $204 million in an attractive pipeline of accretive acquisitions and development projects, collected 100% of our rents, resolved both the At Home and Claire's situations with all leases assumed and no bad debt incurred from either, and secured 1.2% sequential quarterly growth in contractual rental obligations.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

MANAGEMENT COMMENTARY Our strong third-quarter results reflect the continued success of our differentiated growth strategy as well as the deep expertise and strategic acumen of our team, said John Moragne, BNL's Chief Executive Officer

Based on: Earnings release + parent 8-K — transcript not held

Guidance & outlook

Direction: Raised

Company outlook: “As a result, and reflecting our year-to-date success and our ongoing commitment to driving long-term shareholder value, we are raising our full-year guidance to $1.49 to $1.50 of AFFO per share, representing 4.2% to 4.9% growth for the year.”

Company outlook — Raised (“raising”)
“As a result, and reflecting our year-to-date success and our ongoing commitment to driving long-term shareholder value, we are raising our full-year guidance to $1.49 to $1.50 of AFFO per share, representing 4.2% to 4.9% growth for the year.”

Company outlook — Raised (“Increases”)
“Increases are largely driven by updated expectations for performance based incentives, and core general and administrative expenses remain in-line with full year guidance expectations.”

Company outlook — Raised (“increases”)
“Forward-looking statements, including our 2025 guidance and assumptions, involve known and unknown risks and uncertainties, which may cause BNL s actual future results to differ materially from expected results, including, without limitation, risks and uncertainties related to general economic conditions, including but not limited to increases in the rate of inflation and or interest rates, local real estate conditions, tenant financial health, property investments and acquisitions, and the timing and uncertainty of completing these property investments and acquisitions, and uncertainties regarding future distributions to our stockholders.”

Classified from the release's primary full-year outlook statement.

Capital allocation

This quarter we invested $204 million in an attractive pipeline of accretive acquisitions and development projects, collected 100% of our rents, resolved both the At Home and Claire's situations with all leases assumed and no bad debt incurred from either, and secured 1.2% sequential quarterly growth in contractual rental obligations.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

INVESTMENT DISPOSITION ACTIVITY Invested $203.9 million quarter-to-date, including $139.5 million in new property acquisitions, $41.0 million in build-to-suit developments, $17.9 million in transitional capital, and $5.5 million in revenue generating capital expenditures.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

The completed acquisitions and revenue generating capital expenditures had a weighted average initial cash capitalization rate, lease term, and annual rent increase of 7.1%, 12.2 years, and 2.4%, respectively.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Through the third quarter, we invested $433.0 million, including $253.2 million in new property acquisitions, $130.8 million in build-to-suit developments, $40.7 million in transitional capital, and $8.3 million in revenue generating capital expenditures.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

The completed acquisitions and revenue generating capital expenditures had a weighted average initial cash capitalization rate, lease term, and annual rent increase of 7.1%, 12.3 years, and 2.5%, respectively.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Additionally, we have $67.0 million of acquisitions under control and $1.0 million of commitments to fund revenue generating capital expenditures with existing tenants.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Strategy & priorities

MANAGEMENT COMMENTARY Our strong third-quarter results reflect the continued success of our differentiated growth strategy as well as the deep expertise and strategic acumen of our team, said John Moragne, BNL's Chief Executive Officer.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2025, BNL s diversified portfolio consisted of 759 individual net leased commercial properties with 752 properties located in 44 U.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

4 Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies, and prospects, both business and financial.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

11 We are focused on a disciplined and targeted investment strategy, together with active asset management that includes selective sales of properties.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Risks & headwinds

Forward-looking statements, including our 2025 guidance and assumptions, involve known and unknown risks and uncertainties, which may cause BNL s actual future results to differ materially from expected results, including, without limitation, risks and uncertainties related to general economic conditions, including but not limited to increases in the rate of inflation and or interest rates, local real estate conditions, tenant financial health, property investments and acquisitions, and the timing and uncertainty of completing these property investments and acquisitions, and uncertainties regarding future distributions to our stockholders.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

These and other risks, assumptions, and uncertainties are described in Item 1A Risk Factors of the Company s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which the Company filed with the SEC on February 20, 2025, and the Company s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which was filed with the SEC on May 1, 2025, both of which you are encouraged to read, and will be available on the SEC s website at www.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements.

SEC original ↗Broadstone Net Lease, Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Documents

Earnings deck slides

6 decks with slide view

Slide history — recurring slides by stated title

Slides are matched across this company’s decks by their stated title only; a title listed here appeared in more than one held deck.

2026 GUIDANCE — Oct 28, 2026 · slide 5 · Oct 28, 2026 · slide 8

BALANCE SHEET — Oct 28, 2026 · slide 31 · Oct 28, 2026 · slide 23

Forward-Looking Statements — Oct 28, 2026 · slide 6 · Oct 28, 2026 · slide 9

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

KE Holdings (BEKE) Real EstateInvitation Homes (INVH) Real EstateEquinix (EQIX) Real EstateAlexandria Real Estate Equities (ARE) Real EstateIron Mountain (IRM) Real EstateVici Properties (VICI) Real EstateMid-America Apartment Communities (MAA) Real EstateVivmark Residential (VMRK) Real Estate

Filings

32 documents

Earnings releases

40 documents

Presentations

6 documents

Transcripts

0 documents

No transcripts for Broadstone Net Lease, Inc. are held in this edition of the library.

Mentioned by

2 companies

Other tracked companies whose held documents mention Broadstone Net Lease, Inc. by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.