Filing Flows › Global Net Lease (GNL) › Q1 2026
Global Net Lease (GNL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Global Net Lease (GNL) reported revenue of $109M for the first quarter 2026 (Q1 2026), -17% from a year earlier and -7% from the quarter before. Operating margin was 28.3%, net loss $5.1M (4.6% of revenue).
Global Net Lease, Q1 2026: revenue $109M (-18% year over year), operating margin 28.3%, net loss $5.1M, operating cash flow $39.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $109M | -7% | -17% |
| Operating profit | $30.9M | -72% | — |
| Net earnings | −$5.1M | -114% | — |
| Operating cash flow | $39.7M | -29% | -33% |
| Free cash flow | $38.1M | -21% | -23% |
What changed
Revenue was $109.3M in Q1 2026, down 17% year over year and down 7% from the previous quarter. Industrial & Distribution was the largest line at 45% of revenue. Industrial & Distribution lost $8.8M year over year (down 15%), 38% of the total change.
Operating profit was $30.9M, a 28.3% margin (up 49.4 points year over year). Total costs fell 51% while revenue fell 17%. The quarter ended with a net loss of $5.1M, after a profit of $48.2M the previous quarter. Net interest and other expense of $34.4M was the main reason.
Operating cash flow was $39.7M (down 33% year over year). Non-cash charges added back $41.6M of depreciation and amortization and $4.0M of share-based compensation. Capital expenditures of $1.6M left free cash flow of $38.1M.
Questions
What was Global Net Lease's revenue in the first quarter 2026?
Global Net Lease (GNL) reported revenue of $109M for the first quarter 2026 (Q1 2026), -17% from a year earlier and -7% from the quarter before.
Was Global Net Lease profitable in the first quarter 2026?
Operating profit was $30.9M (28.3% of revenue) and net loss $5.1M.
Source: Global Net Lease 10-Q on SEC EDGAR.