| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 112.48 | 2.9% | 9.9% |
| Total Income | 112.48 | 2.9% | 9.9% |
| Expenditure | 80.99 | 6.1% | 3.8% |
| PBT | 5.79 | 186.2% | 120.1% |
| Net Profit | -7.45 | 53.5% | 78.8% |
| OPM | 48.66% | 20.35pp | 14.80pp |
| NPM | -6.62% | 8.03pp | 21.46pp |
| EPS | -0.04 | 50.0% | 75.0% |
Global Net Lease Reports Q2 2026 Results, Raises Full-Year AFFO Guidance
06 Aug 2026 · 6 Aug, 1:54 am
Summary
Global Net Lease, Inc. announced its second quarter 2026 results, reporting revenue of $112.5 million, down from $124.9 million in the prior year due to asset dispositions. The company significantly reduced its net loss to $7.5 million from $35.1 million year-over-year, while AFFO stood at $0.22 per share. Management highlighted a stronger company balance sheet with improved Net Debt to Adjusted EBITDA of 6.6x and increased liquidity. The company raised its full-year AFFO per share guidance to $0.82-$0.85 and anticipates the acquisition of Modiv Industrial to be accretive.
Key Highlights
- 1
Revenue for the second quarter of 2026 was $112.5 million, a decrease from $124.9 million in the second quarter of 2025, primarily reflecting prior asset dispositions.
- 2
The company reported a net loss attributable to common stockholders of $7.5 million for Q2 2026, an improvement from a net loss of $35.1 million in Q2 2025.
- 3
Adjusted Funds from Operations (AFFO) for Q2 2026 was $45.7 million, or $0.22 per share, compared to $53.1 million, or $0.24 per share, in Q2 2025.
- 4
Net Debt to Adjusted EBITDA improved to 6.6x as of June 30, 2026, from 7.2x in Q1 2026.
- 5
Liquidity increased to $919.0 million and Revolving Credit Facility capacity rose to $1.3 billion in Q2 2026.
- 6
The company raised its full-year 2026 AFFO per share guidance to a range of $0.82 to $0.85.
- 7
The acquisition of Modiv Industrial is expected to be immediately 4% accretive to AFFO per share upon closing.
Management Comments
Michael Weil
As we approach the third anniversary of our internalization, GNL is a fundamentally stronger company than when we began this transformation. Through disciplined execution, we have simplified and enhanced the quality of our portfolio, materially reduced leverage, strengthened liquidity, achieved an investment-grade balance sheet, significantly increased our exposure to investment-grade tenants and made meaningful progress reducing our office exposure through value-maximizing dispositions. The anticipated acquisition of Modiv represents a natural next step in that strategy, further improving the quality and durability of our portfolio while remaining consistent with our disciplined approach to capital allocation and balance sheet management. Our increased full-year guidance reflects the momentum we've built and our confidence in the strength of our business and the opportunities ahead. Following my recently announced exit from Bellevue Capital, my personal ownership in GNL will significantly increase, demonstrating my conviction in the strategy we are executing, the platform we have built and the significant long-term value we can create for our shareholders.
Informational and educational content only. Not investment advice.