Filing Flows › Broadstone Net Lease (BNL) › Q1 2026
Broadstone Net Lease (BNL) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Broadstone Net Lease (BNL) reported revenue of $121M for the first quarter 2026 (Q1 2026), +12% from a year earlier and +3% from the quarter before. Operating margin was 52.2%, net earnings $46.4M (38.2% of revenue).
Broadstone Net Lease, Q1 2026: revenue $121M (+12% year over year), operating margin 52.2%, net earnings $46.4M, operating cash flow $76.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $121M | +3% | +12% |
| Operating profit | $63.3M | +13% | +67% |
| Net earnings | $46.4M | +40% | +177% |
| Operating cash flow | $76.1M | -10% | +6% |
| Free cash flow | $74.7M | -4% | +31% |
What changed
Revenue was $121.4M in Q1 2026, up 12% year over year and up 3% from the previous quarter.
Operating profit was $63.3M, a 52.2% margin (up 17.3 points year over year). Of the extra revenue versus Q1 2025, 200% reached operating profit, above the 35% margin then. Total costs fell 18% while revenue rose 12%. Net earnings were $46.4M, up 177% year over year. The effective tax rate was 0.7%.
Operating cash flow was $76.1M (up 6% year over year), 164% of net earnings. Non-cash charges added back $40.5M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items used $13.4M. Capital expenditures of $1.4M left free cash flow of $74.7M.
Questions
What was Broadstone Net Lease's revenue in the first quarter 2026?
Broadstone Net Lease (BNL) reported revenue of $121M for the first quarter 2026 (Q1 2026), +12% from a year earlier and +3% from the quarter before.
Was Broadstone Net Lease profitable in the first quarter 2026?
Operating profit was $63.3M (52.2% of revenue) and net earnings $46.4M.