Broadstone Net Lease, Inc. (BNL) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

All three will be available for the Q&A portion of this call. As a reminder, the following discussion and answers to your questions contain forward-looking statements, which are subject to risks and uncertainties that can cause actual results to differ materially due to a variety of factors. We caution you not to place under-reliance on these forward-looking statements and refer you to our SEC filings, including our Form 10-K for the year ended December 31, 2024, in our form 10Q for the quarter ended March 31st, 2025, for a more detailed discussion of the risk factors that may cause such differences. And note that such risk factors may be updated in our quarterly SEC filings. Any forward-looking statements provided during this conference call are only made as the date of this call. With that, I'll turn the call over to John. Thank you, Brent. Good afternoon, everyone. As we announced in our earnings release last night, We have raised our full year 2025 AFFO guidance to $1.48 to $1.50 per share, or 4.2% growth at our midpoint, with a 38 cents of AFFO per share for our second quarter, representing 5.6% growth compared to 2024. We are incredibly proud of another outstanding quarter, underscoring the strength of this portfolio and our differentiated growth strategy. Our team's disciplined execution was instrumental in driving meaningful progress on several key tenant matters and our investment activity. This upward revision reflects not only our confidence in the business, but also our steadfast commitment to delivering long-term sustainable growth and value creation for our shareholders. At this halfway point of the reporting calendar, and as we work to continue increasing our momentum as we enter the second half of the year and head into 2026, I thought this would be a...