Short answer
Broadstone Net Lease, Inc. (BNL) filed its Q3 2025 10-Q quarterly report on Oct 29, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $114M (up 5.3% year over year) with net income of $26M.
Q3 2025 key financials · XBRL
- Revenue
- $114M
- +5.3% YoY · +1.0% QoQ
- Net income
- $26M
- −25.7% YoY · +31.3% QoQ
- EPS (diluted)
- $0.14
- −26.3% YoY · +40.0% QoQ
Source: XBRL data from the Broadstone Net Lease, Inc. (BNL) Q3 2025 10-Q on SEC EDGAR. USD.
Broadstone Net Lease, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Lease revenues net $114.2M this quarter, up 1.0% vs $113.0M prior quarter; acquisitions and revenue capital expenditures drove growth despite dispositions
- Operating margin approx. 44.5% (lease revenues $114.2M vs operating expenses $63.4M) vs ~39.5% prior quarter (lease revenues $113.0M vs expenses $69.1M)
- Best performing segment: Industrial properties with ABR $252.9M (61.2% of portfolio); worst performing: Retail segment with ABR $126.4M (30.6%), impacted by $7.0M impairments this quarter
- Investments $203.9M this quarter including $139.5M acquisitions at 7.1% cap rate; dispositions $38.7M; cash flow supported by continued strong tenant rent collections at 99.5% portfolio leased
- Near-term outlook cautious due to macroeconomic challenges and rising interest rates impacting transaction volumes; growth anticipated from rent escalations, capital expenditures, build-to-suit developments, and diversified acquisitions
Risk Factors
- No new or changed risk factors reported since 10-K filed February 20, 2025
- Previous risks include tenant credit risk in net lease portfolio impacting rental income stability
- Market risk from interest rate fluctuations affecting property valuations and borrowing costs
- Operational risk tied to property management and lease renewal execution in competitive real estate markets
- Financial risk includes leverage with outstanding debt maturing over next 3 years and exposure to interest rate increases
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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