Broadstone Net Lease (BNL) Q2 2026: EPS beats by 13%, $303M Fortune 20 deal lifts guidance
As seen on the 24/7 Wall St. homepage on July 29, 2026.
Broadstone crushed estimates with a $303 million Fortune 20 build-to-suit in Colorado, raising full-year guidance and signaling the deal will become its largest tenant source by March 2027. EPS beat consensus by 13%, with net income nearly doubling year over year on strong portfolio rent growth and 100% occupancy by square footage.
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Broadstone Net Lease reported Q2 2026 earnings per share of $0.21, topping the $0.1851 consensus estimate by about 13%. Revenue came in at $122.3 million, edging past the $121.7 million estimate. Net income nearly doubled year over year, driven by strong portfolio rent growth and 100% occupancy by square footage — a rare combination that gave management enough confidence to raise its full-year guidance.
The headline catalyst is a $303 million build-to-suit project in Colorado signed with a Fortune 20 company. The deal is expected to become Broadstone's largest single tenant revenue source by March 2027, which adds a meaningful long-term anchor to what is already a fully occupied portfolio. Build-to-suit arrangements of this scale are uncommon for net lease REITs and suggest management is actively competing for larger, credit-quality tenants beyond its typical deal size.
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Looking back at recent earnings history, the Q2 result marks a notable turnaround from a stretch in which BNL consistently fell short of estimates across Q3 2024 through Q3 2025. The back-to-back beats in Q4 2025 and Q1 2026 — where reported EPS of $0.38 and $0.237 cleared estimates of $0.37 and $0.1611, respectively — now appear to be the beginning of a more durable trend rather than a one-quarter anomaly.
Mentioned: BNL