NYSE$GNL
Global Net Lease Inc · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Global Net Lease reported Q4 2025 revenue of $117.0 million with net income attributable to common stockholders of $37.2 million and AFFO of $48.5 million ($0.22 per share).
GNL posted Q4 2025 revenue of $117.0 million (down from $137.8 million on asset sales) with net income to common of $37.2 million versus a prior-year loss, aided by the McLaren Campus sale gain. AFFO was $48.5 million ($0.22 per share); full-year AFFO of $221.0 million ($0.99 per share) exceeded revised guidance of $0.95–0.97. The company repurchased 17.2 million shares at $7.88 ($135.9 million total) and reduced net debt by $2.2 billion in 2025.
- Q4 AFFO $48.5M ($0.22/share); full-year AFFO $221.0M beat guidance.
- McLaren Campus sold for £250M (~£80M above purchase price).
- Net debt to adjusted EBITDA improved from 7.6x to 6.7x in 2025.
- 17.2M share repurchases since program launch at $7.88 average.
Headline financials
Revenue & EPS history
Global Net Lease · Revenue · Quarterly
$117M
Revenue by segment
Global Net Lease · $52.2M total across 2 segments · Q3 2023
- Office$38.8M—74.3%
- Multi-Tenant Retail$13.4M—25.7%
Forward guidance
Initial 2026 AFFO guidance is $0.80–0.84 per share as GNL reduces office exposure and redeploys capital from dispositions; management does not guide GAAP net income.
Tailwinds
- Full-year 2025 AFFO exceeded raised guidance range.
- Balance-sheet deleveraging and accretive share repurchases.
- Strategic focus on reducing office and recycling capital into higher-yield assets.
Headwinds
- Q4 revenue declined YoY on asset sales including multi-tenant retail portfolio.
- Lower Q4 AFFO per share vs prior year ($0.22 vs $0.34).
- Office sector exposure and cap-rate volatility remain headwinds.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
+0.2%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+1.1%
Avg return
30 days after
56%
22 / 39 earnings
Positive
+6.2%
Q4 2024
Best reaction
-8.5%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.3% | -0.3% | +2.5% | |
| Q4 2025 | -3.1% | -3.2% | -6.2% | |
| Q3 2025 | +5.7% | +5.0% | +7.4% | |
| Q1 2025 | +4.3% | +5.6% | +2.5% | |
| Q4 2024 | +6.2% | +9.7% | +6.2% | |
| Q3 2024 | +2.7% | -0.4% | -7.9% | |
| Q2 2024 | +0.7% | +0.4% | +8.3% | |
| Q1 2024 | -0.7% | +2.5% | +4.7% | |
| Q4 2023 | -1.8% | +0.1% | +6.6% | |
| Q3 2023 | -2.6% | -5.1% | +9.3% | |
| Q2 2023 | +1.0% | +5.8% | +3.9% | |
| Q1 2023 | -2.8% | -7.5% | -6.0% | |
| Q4 2022 | +2.0% | +1.3% | -12.8% | |
| Q3 2022 | +4.9% | +6.8% | +12.6% | |
| Q2 2022 | -1.6% | -0.3% | -10.2% | |
| Q1 2022 | -2.3% | -8.1% | +3.6% | |
| Q4 2021 | +3.1% | +0.9% | +9.1% | |
| Q3 2021 | -0.9% | -3.7% | -10.6% | |
| Q2 2021 | +2.4% | -0.6% | -3.3% | |
| Q1 2021 | +0.8% | -1.3% | +4.6% | |
| Q4 2020 | +0.6% | -3.1% | -1.9% | |
| Q3 2020 | -2.5% | +12.7% | +19.5% | |
| Q2 2020 | +2.5% | +6.6% | +4.8% | |
| Q1 2020 | +2.7% | +2.1% | +24.8% | |
| Q4 2019 | -8.5% | -8.1% | -33.4% | |
| Q3 2019 | +0.7% | +1.2% | +6.1% | |
| Q2 2019 | +2.0% | -0.1% | -0.7% | |
| Q1 2019 | +1.4% | +2.6% | +0.3% | |
| Q4 2018 | -8.2% | -5.8% | -2.8% | |
| Q3 2018 | +5.3% | +4.3% | -1.8% | |
| Q2 2018 | +3.6% | +2.2% | -0.8% | |
| Q1 2018 | +1.8% | -2.2% | +0.8% | |
| Q4 2017 | -4.7% | -3.7% | +2.9% | |
| Q3 2017 | -2.2% | -1.7% | -1.9% | |
| Q2 2017 | -0.9% | -2.4% | +1.3% | |
| Q1 2017 | -2.2% | -3.5% | -1.1% | |
| Q4 2016 | +0.1% | +0.4% | -3.0% | |
| Q3 2016 | +0.7% | +6.5% | +8.5% | |
| Q2 2016 | -2.3% | -0.9% | -2.7% | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — |
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