GNL Q2 net loss $31.4M ($0.30/sh) vs $5.8M loss; AFFO $0.40/sh; RTL merger on track

Global Net Lease, Inc.

2023-Q2 EPS reported -$0.36 revenue$190,176,000

Net loss attributable to common stockholders $31.4M ($0.30 diluted sh) vs $5.8M loss ($0.06) in Q2 2022; loss driven by $22M proxy expenses and $6.3M merger costs.
Core FFO $27.7M ($0.27/sh) vs $50.0M ($0.48) in Q2 2022; AFFO $41.4M ($0.40) vs $45.0M ($0.43) prior year.
Revenue $95.8M vs $95.2M in Q2 2022; portfolio 97.7% leased with 7.6 yr WALT; 60% investment grade tenants.
Merger with RTL expected close Sept 2023; 9% accretive to AFFO/sh in first quarter after close; $75M annual cost savings.
Dividend declared $0.40/sh, matching AFFO per share; net debt to enterprise value 65.2%; weighted avg debt rate 4.8%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Global Net Lease, Inc. reported the quarter ended June 30, 2023 results: revenue $95.8 million, net income $(31.4) million, EPS $(0.30) per diluted share.

Period: the quarter ended June 30, 2023
Revenue: $95.8 million
Net income: $(31.4) million
EPS: $(0.30) per diluted share
Result: reported results

Exact text from the filing

in the first quarter after closing, compared to the first quarter of 2023 ◦ Create $75 million of annual cost savings anticipated within twelve months of closing • Revenue was $95.8 million compared to $95.2 million in second quarter 2022 • Net loss attributable to common stockholders was $31.4 million, or $0.30 per diluted share, compared to $5.8 million, or $0.06

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Source: SEC EDGAR

accession 0001526113-23-000018

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