Equity Profile

BNL

Broadstone Net Lease, Inc.

Real EstateDiversified REITs$3.9B

Apr29Wed

Post-Earnings Recap

ReportedQ1-2026After Close5:03 PM EDT

Broadstone Net Lease, Inc. Beats on EPS, Stock Down 0.5%

Metric	Actual	Expected	Surprise
EPS	$0.40	$0.18	+7.24%
Revenue	N/A	$119M	N/A

management commentary, guidance changes, and full analysis available with Pro.

Broadstone Net Lease, Inc. Beats on EPS, Stock Down 0.5%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$0.40	$0.18	+7.24%
Revenue	N/A	$119M	N/A

Management Commentary

Tone: Unknown

No transcript is on record, and the analysis is based solely on numerical results.

What It Means

Broadstone Net Lease, Inc. reported stronger-than-expected earnings per share, which exceeded analyst expectations. However, the stock still declined by 0.5% following the announcement. The lack of revenue data and management commentary may have contributed to the stock's negative reaction.

Company Snapshot

Broadstone Net Lease, Inc. (BNL) is a real estate investment trust (REIT) that focuses on acquiring and managing single-tenant net lease properties across various sectors....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company performed relative to expectations.

0.18

Revenue

Revenue figures will provide insight into the company's overall sales performance and growth trajectory.

119M

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Broadstone Net Lease, Inc. (BNL) is a real estate investment trust (REIT) that focuses on acquiring and managing single-tenant net lease properties across various sectors. With a market cap of $4 billion, it plays a significant role in the diversified REITs industry, which is influenced by trends in commercial real estate and consumer spending.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+6.60%

Avg Stock Reaction

-0.79%

Last Quarter Recap

In Q4-2025, BNL reported an EPS of $0.37, matching analyst expectations. However, the stock price fell by 1.71% the following day, indicating market skepticism despite meeting earnings targets.

Management Promises & Guidance

Continue to focus on acquiring high-quality net lease properties.
Maintain strong relationships with tenants to ensure stable cash flows.
Explore opportunities for growth in emerging markets.

Expectations

Wall Street Expectations

Analysts expect BNL to report earnings that meet or slightly exceed expectations, with a consensus EPS of $0.18. The market is closely watching how the company navigates current economic conditions.

Bull Case

If BNL exceeds EPS expectations and shows strong revenue growth, it could signal robust demand for its properties and a positive outlook for future acquisitions.

Bear Case

Conversely, if BNL misses earnings expectations or reports weaker revenue, it may raise concerns about its portfolio performance and the overall health of the real estate market.

Key Metrics to Watch

EPS

0.18

Earnings per share is a key indicator of profitability and will show how well the company performed relative to expectations.

Revenue

119M

Revenue figures will provide insight into the company's overall sales performance and growth trajectory.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will BNL's EPS exceed the consensus estimate of $0.18?

A beat on EPS could indicate stronger-than-expected profitability and boost investor confidence.

What revenue figure will BNL report compared to the consensus of $119 million?

Revenue performance will be crucial in assessing the company's growth and stability in the current economic environment.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate BNL's ability to leverage its property portfolio for stronger revenue growth, especially in a recovering economy.

Supporting Evidence

The company has consistently beaten EPS estimates in the past, suggesting a potential for continued outperformance.

Options pricing indicates a higher expected move than historical averages, which may reflect investor caution rather than a true assessment of BNL's performance.

Key Risk

If revenue comes in significantly above $119 million, it could challenge the bearish sentiment and shift market expectations.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating BNL's ability to maintain profitability and revenue growth in a challenging economic landscape.

Bull Confirmed If

An EPS of $0.19 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $0.17 would confirm the bear case, raising concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±1.83%

Historical Avg

±1.1%

Pricing rich

The options market is pricing in a modest move around the earnings report, suggesting that investors are anticipating some volatility but not a dramatic shift.

Options are pricing ±1.8% while BNL has averaged ±1.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

17.1%

Calls (100)P/C Ratio: 3.67Puts (5K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Real Estate

n=30

Fade rate: 7 of 24 (29%)

This setup has occurred 30 times across Real Estate in the last 2 years. 17 of 24 (71%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 1.3%, with a raw directional average of +0.4% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If BNL beats expectations, history suggests the stock could see a modest increase, confirming a positive outlook for future growth.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further guidance.

Miss

A miss on earnings could lead to a decline in stock price, with historical patterns suggesting an average drop of around 3.19%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new property acquisitions or tenant relationships.
2Details on how current economic conditions are affecting rental income.
3Insights into the company's strategy for managing costs and maintaining profitability.
4Comments on market trends in the real estate sector and how BNL is positioned.
5Any guidance on future earnings or revenue expectations.

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Company Snapshot

Broadstone Net Lease, Inc. (BNL) is a real estate investment trust (REIT) that focuses on acquiring and managing single-tenant net lease properties across various sectors....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company performed relative to expectations.

0.18

Revenue

Revenue figures will provide insight into the company's overall sales performance and growth trajectory.

119M

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+6.60%

Avg Stock Reaction

-0.79%

Last Quarter Recap

In Q4-2025, BNL reported an EPS of $0.37, matching analyst expectations. However, the stock price fell by 1.71% the following day, indicating market skepticism despite meeting earnings targets.

Management Promises & Guidance

Continue to focus on acquiring high-quality net lease properties.
Maintain strong relationships with tenants to ensure stable cash flows.
Explore opportunities for growth in emerging markets.

Expectations

Wall Street Expectations

Analysts expect BNL to report earnings that meet or slightly exceed expectations, with a consensus EPS of $0.18. The market is closely watching how the company navigates current economic conditions.

Bull Case

If BNL exceeds EPS expectations and shows strong revenue growth, it could signal robust demand for its properties and a positive outlook for future acquisitions.

Bear Case

Conversely, if BNL misses earnings expectations or reports weaker revenue, it may raise concerns about its portfolio performance and the overall health of the real estate market.

Key Metrics to Watch

EPS

0.18

Earnings per share is a key indicator of profitability and will show how well the company performed relative to expectations.

Revenue

119M

Revenue figures will provide insight into the company's overall sales performance and growth trajectory.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will BNL's EPS exceed the consensus estimate of $0.18?

A beat on EPS could indicate stronger-than-expected profitability and boost investor confidence.

What revenue figure will BNL report compared to the consensus of $119 million?

Revenue performance will be crucial in assessing the company's growth and stability in the current economic environment.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate BNL's ability to leverage its property portfolio for stronger revenue growth, especially in a recovering economy.

Supporting Evidence

The company has consistently beaten EPS estimates in the past, suggesting a potential for continued outperformance.

Options pricing indicates a higher expected move than historical averages, which may reflect investor caution rather than a true assessment of BNL's performance.

Key Risk

If revenue comes in significantly above $119 million, it could challenge the bearish sentiment and shift market expectations.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating BNL's ability to maintain profitability and revenue growth in a challenging economic landscape.

Bull Confirmed If

An EPS of $0.19 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $0.17 would confirm the bear case, raising concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±1.83%

Historical Avg

±1.1%

Pricing rich

The options market is pricing in a modest move around the earnings report, suggesting that investors are anticipating some volatility but not a dramatic shift.

Options are pricing ±1.8% while BNL has averaged ±1.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

17.1%

Calls (100)P/C Ratio: 3.67Puts (5K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Real Estate

n=30

Fade rate: 7 of 24 (29%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If BNL beats expectations, history suggests the stock could see a modest increase, confirming a positive outlook for future growth.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further guidance.

Miss

A miss on earnings could lead to a decline in stock price, with historical patterns suggesting an average drop of around 3.19%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new property acquisitions or tenant relationships.
2Details on how current economic conditions are affecting rental income.
3Insights into the company's strategy for managing costs and maintaining profitability.
4Comments on market trends in the real estate sector and how BNL is positioned.
5Any guidance on future earnings or revenue expectations.