BNL Earnings Prediction
The chart below shows how BNL performed 10 days before and after its earnings report, based on data from the past quarters. Typically, BNL sees a -0.19% change in stock price 10 days leading up to the earnings, and a -0.47% change 10 days following the report. On the earnings day itself, the stock moves by -0.62%. This data can give you a slight idea of what to expect for the next quarter's release.
BNL Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
108.40M
-1.05%
2.35%
Gross Margin
86.22%
-1.55%
-1.56%
Operating Margin
50.50%
-1.04%
0.30%
Net Margin
34.38%
-27.77%
1.33%
EPS
0.19
-26.92%
0.00%
No Data Available
BNL Earnings Analysis
Broadstone Net Lease, Inc. Corporation (BNL.N) Earnings Conference Call
Positive
Cash Yield from Development: 1. Strong Cash Yield from New Development: The UNFI build-to-suit development achieved an initial cash yield of 7.2% and a straight-line yield of 8.6%, contributing positively to earnings.
Development Pipeline Strength: 2. Robust Development Pipeline: Broadstone has $405 million in committed development projects with attractive initial cash yields in the mid to high 7% range and straight-line yields exceeding 9%.
Incremental Base Rent Increase: 3. Incremental ABR Growth: The existing pipeline is expected to secure approximately $33 million of incremental annualized base rent (ABR) coming online in Q4 2025 and the first half of 2026.
Lease Extension Success: 4. Successful Lease Extensions: Year-to-date, Broadstone executed six lease extensions or tenant renewals, all at or above 100% recapture rates, demonstrating strong tenant relationships and portfolio resilience.
Financial Stability and Capacity: 5. Strong Financial Position: The company ended the quarter with pro forma leverage of 4.9 times and approximately $870 million of revolver availability, providing ample capacity to fund committed investments.
Negative
Declining AFFO Performance: 1. Declining AFFO: The company reported an AFFO of $70 million or $0.35 per share, a decrease of 2.7% year-over-year, primarily due to lower lease revenues from the healthcare simplification strategy and increased expenses from vacant assets.
Vacancy Impact on Finances: 2. Increased Vacancies: The company has three vacant properties generating higher operating expenses, which are expected to persist into the fourth quarter, impacting overall financial performance.
Reduced Investment Expectations: 3. Lower Investment Guidance: The high end of the investment guidance was lowered from $700 million to $600 million, indicating a reduction in expected capital deployment for the year.
Credit Risk Assessment: 4. Credit Risk Concerns: The company noted incremental pockets of credit risk, particularly in consumer-centric industries and entities with less flexible capital structures, which could affect future performance.
Rent Reduction Impact: 5. Modest Rent Reductions: The company experienced a modest rent reduction of 8.25% from the Red Lobster bankruptcy proceedings, indicating potential challenges in the restaurant sector.
BNL FAQs
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BNL Earning Call Sentiment
Broadstone Net Lease, Inc. (BNL) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
BNL.N
0.03%Positive
The earnings call summary presents a mixed picture: financial performance is slightly negative due to decreased AFFO, while investment activities show promise with a robust pipeline and sector diversification. However, uncertainties in market conditions and cautious guidance limit optimism. The Q&A highlights potential risks and management's conservative stance, particularly regarding future investment spending and acquisition environments. While dividends remain attractive, the lack of a share repurchase program is a downside. Given the company's market cap, the overall sentiment is neutral, with no strong catalysts for significant stock price movement in the short term.