GNL reports Q1 AFFO $0.33/share (+6% QoQ); reaffirms FY2024 $1.30-$1.40 guidance

Global Net Lease, Inc.

2024-Q1 EPS reported -$0.15 revenue$206,045,000

AFFO per diluted share $0.33 (up 6% QoQ); Core FFO $56.6M (+17% QoQ).
Net loss narrowed to $34.7M from $59.5M QoQ; revenue $206.0M, stable.
Closed plus disposition pipeline totals $554M at 7.2% cash cap rate on occupied assets.
Reaffirmed 2024 AFFO guidance $1.30-$1.40 per share; Net debt to Adj EBITDA 7.4x-7.8x.
Post-Q1, completed $237M CMBS refinancing at 5.74% fixed, reducing annual interest by $3.5M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Global Net Lease, Inc. reported the quarter ended March 31, 2024 results: revenue $206.0 million, net income Net loss attributable to common stockholders was $34.7 million, EPS Net loss per diluted common share $ (0.15). Guidance reaffirmed.

Period: the quarter ended March 31, 2024
Revenue: $206.0 million
Net income: Net loss attributable to common stockholders was $34.7 million
EPS: Net loss per diluted common share $ (0.15)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

located commercial real estate properties, announced today its financial and operating results for the quarter ended March 31, 2024. First Quarter 2024 Highlights • Revenue was $206.0 million compared to $206.7 million in fourth quarter • Net loss attributable to common stockholders was $34.7 million, compared to net loss of $59.5 million in fourth quarter 2023 • Core

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Source: SEC EDGAR

accession 0001526113-24-000011

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