Broadstone Net Lease Inc
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 31, 2024
BNL$17.85+0.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)
Condensed Consolidated Statements of Income and Comprehensive Income
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues | ||||
| Lease revenues, net | $108,397 | $109,543 | $319,670 | $337,887 |
| Operating expenses | ||||
| Depreciation and amortization | 38,016 | 38,533 | 113,192 | 119,348 |
| Property and operating expense | 7,014 | 5,707 | 17,976 | 16,580 |
| General and administrative | 8,722 | 10,143 | 28,058 | 30,043 |
| Provision for impairment of investment in rental properties | 1,059 | — | 31,311 | 1,473 |
| Total operating expenses | 54,811 | 54,383 | 190,537 | 167,444 |
| Other income (expenses) | ||||
| Interest income | 70 | 127 | 952 | 370 |
| Interest expense | (18,178) | (19,665) | (54,512) | (61,081) |
| Gain on sale of real estate | 2,441 | 15,163 | 64,956 | 48,040 |
| Income taxes | 291 | (104) | (649) | (1,030) |
| Other (expenses) income | (942) | 1,464 | 1,502 | (227) |
| Net income | 37,268 | 52,145 | 141,382 | 156,515 |
| Net income attributable to non-controlling interests | (1,660) | (2,463) | (5,331) | (7,515) |
| Net income attributable to Broadstone Net Lease, Inc. | $35,608 | $49,682 | $136,051 | $149,000 |
| Weighted average number of common shares outstanding | ||||
| Basic | 187,496 | 186,766 | 187,408 | 186,545 |
| Diluted | 196,932 | 196,372 | 196,799 | 196,282 |
| Net earnings per share attributable to common stockholders | ||||
| Basic | $0.19 | $0.27 | $0.72 | $0.80 |
| Diluted | $0.19 | $0.26 | $0.72 | $0.80 |
| Comprehensive income (loss) | ||||
| Net income | $37,268 | $52,145 | $141,382 | $156,515 |
| Other comprehensive income (loss) | ||||
| Change in fair value of interest rate swaps | (41,682) | 13,943 | (31,334) | 15,696 |
| Realized (gain) loss on interest rate swaps | (5) | 522 | 216 | 1,566 |
| Comprehensive (loss) income | (4,419) | 66,610 | 110,264 | 173,777 |
| Comprehensive loss (income) attributable to non-controlling interests | 196 | (3,147) | (3,950) | (8,285) |
| Comprehensive (loss) income attributable to Broadstone Net Lease, Inc. | $(4,223) | $63,463 | $106,314 | $165,492 |
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