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AI brief of an SEC Form 8-K · Broadstone Net Lease (BNL)

Broadstone Net Lease Q1 net income falls 74% to $17.5 million; AFFO flat at $0.36

Mixed Impact 3 of 5 earnings Written later

Broadstone Net Lease reported first quarter 2025 results, with revenues rising to $108.7 million from $105.4 million a year earlier. Net income fell 74.3% to $17.5 million, or $0.09 per diluted share, mainly because the gain on sale of real estate declined by $58.7 million, while AFFO was flat at $0.36 per diluted share and 2025 AFFO guidance of $1.45 to $1.49 per share was unchanged. Shareholders see higher revenue and unchanged cash-based guidance alongside a sharp drop in GAAP profit.

Key points

  • Revenues were $108.7 million for the quarter ended March 31, 2025, compared with $105.4 million for the same period in 2024.
  • Net income was $17.5 million, or $0.09 per diluted share, down 74.3% year over year; AFFO was $71.8 million, or $0.36 per diluted share, unchanged from the prior year.
  • The company kept its 2025 AFFO guidance of $1.45 to $1.49 per diluted share unchanged.
  • The board declared a quarterly dividend of $0.29 per share, payable on or before July 15, 2025, to holders of record as of June 30, 2025.

The filing

CompanyBroadstone Net Lease (BNL)
Form8-K, current report
Filed with the SECApr 30, 2025, 4:12 PM ET
Accession number0000950170-25-061057

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 30, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.