NYSE$BNL
Broadstone Net Lease Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Announced operating results for the quarter ended September 30, 2022.
Broadstone Net Lease announced its Q3 2022 results, featuring $204.5 million in investment activity, 100% rent collection, and a portfolio that was 99.3% leased. Net income was $28.7 million, or $0.16 per share, and AFFO was $63.4 million, or $0.35 per share.
- Invested $204.5 million at a weighted average initial cash capitalization rate of 6.5%.
- Sold 962,200 shares of common stock for net proceeds of $20.3 million under our at-the-market common equity offering ("ATM Program").
- Collected 100% of base rents due for the third quarter, and our portfolio was 99.3% leased based on rentable square footage.
- Generated net income of $28.7 million, or $0.16 per share and generated adjusted funds from operations ("AFFO") of $63.4 million, or $0.35 per share.
Headline financials
Revenue & EPS history
Broadstone Net Lease · Revenue · Quarterly
$104M
Forward guidance
BNL has reaffirmed its guidance range for the 2022 full year and currently expects to report AFFO of between $1.38 and $1.40 per diluted share.
Tailwinds
- investments in real estate properties between $900 million and $1 billion
- dispositions of real estate properties between $50 million and $75 million
- total cash general and administrative expenses between $31 million and $33 million
- BNL reaffirmed its guidance range for the 2022 full year
- Currently expects to report AFFO of between $1.38 and $1.40 per diluted share
Headwinds
- Our per share results are sensitive to both timing and amount of real estate investments
- Our per share results are sensitive to property dispositions
- Our per share results are sensitive to capital markets activities that occur throughout the year
- The Company does not provide guidance for the most comparable GAAP financial measure, net income
- The Company does not provide a reconciliation of the forward-looking non-GAAP financial measure of AFFO to net income computed in accordance with GAAP
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2022
-0.6%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+1.2%
Avg return
30 days after
36%
8 / 22 earnings
Positive
+4.7%
Q1 2024
Best reaction
-5.2%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | -0.7% | -0.8% | +1.5% | |
| Q4 2025 | -4.2% | -1.2% | -4.5% | |
| Q3 2025 | -0.9% | +0.3% | -2.0% | |
| Q1 2025 | -2.0% | -1.3% | -1.7% | |
| Q4 2024 | +3.1% | +6.3% | +8.4% | |
| Q3 2024 | -2.3% | -2.6% | -2.7% | |
| Q2 2024 | -3.4% | -4.7% | +0.4% | |
| Q1 2024 | +4.7% | +5.8% | +5.4% | |
| Q4 2023 | -4.0% | -6.1% | -3.2% | |
| Q3 2023 | +1.5% | +4.5% | +16.2% | |
| Q2 2023 | -1.3% | -0.1% | -2.3% | |
| Q1 2023 | +0.1% | +1.5% | +0.4% | |
| Q4 2022 | -0.4% | -0.4% | -6.1% | |
| Q3 2022 | -5.2% | -4.3% | +0.0% | |
| Q2 2022 | -1.4% | -0.6% | -15.5% | |
| Q1 2022 | +2.3% | -0.5% | +6.9% | |
| Q4 2021 | -1.1% | +0.1% | -3.1% | |
| Q3 2021 | +0.7% | +0.0% | -8.1% | |
| Q2 2021 | +3.1% | +5.1% | +9.3% | |
| Q1 2021 | -0.5% | +0.2% | +16.5% | |
| Q4 2020 | -3.4% | -2.6% | -3.4% | |
| Q3 2020 | +1.7% | +4.9% | +13.3% | |
| Q2 2020 | — | — | — | |
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| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
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| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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