Filing Flows › Global Net Lease (GNL) › Q3 2026 › vs Q2 2026
Global Net Lease (GNL) Q3 2026 vs Q2 2026 (quarter over quarter)
Global Net Lease's revenue rose $397K (+0.4%) from $112M in Q2 2026 to $113M in Q3 2026. The biggest changes: Industrial & Distribution +$2.1M (+4%); Office −$1.8M (-6%); Retail +$49K (+0.2%).
Global Net Lease, Q3 2026: revenue $113M (-7% year over year), operating margin -22.3%, net loss $56.9M, operating cash flow $48.3M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 40.7% | 58.1% | -17.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Industrial & Distribution | $53.8M | $51.7M | $2.1M | +4% |
| Retail | $30.0M | $30.0M | $49K | +0.2% |
| Office | $29.0M | $30.8M | −$1.8M | -6% |
| Revenue | $113M | $112M | $397K | +0.4% |
| Income tax benefit | $1.6M | −$4.8M | $6.3M | — |
| Net loss | $56.9M | −$3.5M | $60.4M | — |
| Costs & expenses | $171M | $112M | $58.8M | +52% |
| Operating costs | $138M | $57.7M | $80.3M | +139% |
| Interest & other, net | $33.3M | $46.5M | −$13.2M | -28% |
| General & admin | $11.2M | $11.9M | −$691K | -6% |
| Other operating costs | $127M | $45.9M | $81.0M | +177% |
| Operating cash sources | $105M | $63.6M | $41.5M | +65% |
| Depreciation & amortization | $43.6M | $41.5M | $2.0M | +5% |
| Share-based compensation | $3.8M | $3.9M | −$122K | -3% |
| Working capital & other | $57.8M | $18.2M | $39.6M | +218% |
| Net loss absorbed | $56.9M | −$3.5M | $60.4M | — |
| Operating cash flow | $48.3M | $67.1M | −$18.9M | -28% |
| Free cash flow (OCF − capex) | $46.0M | $65.3M | −$19.3M | -30% |
| Capital expenditures | $2.3M | $1.8M | $458K | +25% |
Questions
How much did Global Net Lease's revenue grow quarter over quarter in Q3 2026?
Global Net Lease's revenue rose $397K (+0.4%) from $112M in Q2 2026 to $113M in Q3 2026.
What drove Global Net Lease's revenue change in Q3 2026?
Industrial & Distribution +$2.1M (+4%); Office −$1.8M (-6%); Retail +$49K (+0.2%).