Broadstone Net Lease Reports 103% Increase in Q2 Net Income to $40.3 Million

Broadstone Net Lease, Inc. reported significant financial performance improvements in its latest quarterly filing, with net income for the second quarter of 2026 reaching $40.3 million, a 103% increase from $19.8 million in the same period last year. For the first half of 2026, net income totaled $86.6 million, compared to $37.3 million in the first half of 2025. The company’s lease revenues also increased, with net lease revenues for the second quarter amounting to $122.3 million, up from $113.0 million year-over-year, and $243.7 million for the first half, compared to $221.7 million in the prior year.

The company’s total assets grew to $5.87 billion as of June 30, 2026, up from $5.72 billion at the end of 2025. This increase was driven by a rise in investment in rental properties, which reached $4.98 billion, compared to $4.82 billion at the end of the previous fiscal year. Broadstone's cash and cash equivalents decreased to $11.1 million from $30.5 million, reflecting increased investment activity. The company also reported a rise in total liabilities to $2.86 billion, up from $2.68 billion, primarily due to increased borrowings on its unsecured revolving credit facility.

Strategically, Broadstone continued to expand its portfolio, acquiring properties valued at $126.2 million during the first half of 2026, including several build-to-suit developments. The company’s portfolio now consists of 766 properties, with 759 located across 44 U.S. states and seven in Canada. The weighted average remaining lease term for its properties is approximately 9.3 years, with 96.8% of leases featuring contractual rent escalations. The company also recognized a gain of $13.0 million from the sale of three properties during the second quarter.

Operationally, Broadstone's employee headcount remained stable, and the company maintained a diversified tenant base across various industries, with no single tenant accounting for more than 3.8% of annual base rent. The company’s focus on creditworthy tenants and long-term leases has contributed to its strong performance metrics. Looking ahead, Broadstone anticipates continued revenue growth driven by embedded same-store net operating income growth, ongoing development activities, and a robust acquisition pipeline, despite the challenges posed by current macroeconomic conditions and elevated interest rates.