Global Net Lease posts Q4 net loss $59.5M, cuts dividend to $1.10/share annually

Global Net Lease, Inc.

2023-FY EPS reported -$1.71 revenue$515,070,000

Q4 revenue $206.7M, net loss $59.5M ($0.26/diluted share), Core FFO $0.21/share.
AFFO $0.31/share; full-year 2024 AFFO guidance $1.30-$1.40/share.
Dividend cut to $1.10/share annually starting April 2024 to free cash for deleveraging.
Plans $400-600M of strategic dispositions in 2024 to reduce net debt/EBITDA to 7.4-7.8x.
Achieved $68M in annualized synergies from merger/internalization; on track for $75M by Q3 2024.

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 0.95

Global Net Lease, Inc. reported the quarter and year ended December 31, 2023 results: revenue $206.7 million, net income Net loss was $59.5 million, or $0.26 per diluted share. Guidance initiated.

Period: the quarter and year ended December 31, 2023
Revenue: $206.7 million
Net income: Net loss was $59.5 million, or $0.26 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

“Internalization”), GNL recognized $68 million of annualized synergies and is currently on track to recognize the full $75 million balance by third quarter 2024 2 • Revenue was $206.7 million in fourth quarter 2023 • Net loss was $59.5 million, or $0.26 per diluted share in fourth quarter 2023 • NOI was $169.7 million in fourth quarter 2023 • Core FFO was $48.3

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Source: SEC EDGAR

accession 0001526113-24-000006

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