Broadstone Net Lease, Inc. (BNL) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to Broadstone NetLease's fourth quarter 2025 earnings conference call. My name is Emily and I'll be your operator today. Please note that today's call is being recorded. I will now turn the call over to Brent Madel, Director of Corporate Finance and Investor Relations at Broadstone. Please go ahead. Thank you everyone for joining us today for Broadstone NetLease's fourth quarter 2025 earnings call. On today's call, you will hear prepared remarks from Chief Executive Officer John Marana, President and Chief Operating Officer Ryan Albano, and Chief Financial Officer Kevin Funnell. 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 risk and uncertainties that can cause actual results to differ materially due to a variety of factors. We caution you not to place undue reliance on these forward-looking statements. For a more detailed discussion of risk factors that may cause such differences, please refer to our SEC filings, including our Form 10-K for the year ended December 31st, 2025, 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 of the date of this call. With that, I'll turn the call over to John. Thank you, Brent, and good morning, everyone. Before I dive into our results and outlook, I want to briefly reflect on what we accomplished in 2025, because I believe it was an important year in Broadstone's history. 2025 was pivotal in terms of proving out the promise of this company and our strategy, and was crucial in terms of establishing a strong foundation for B&L's future. We successfully executed our i...