Broadstone Net Lease, Inc. (BNL) Q3 2025 Earnings Call Transcript

Operator

Hello, and welcome to Broadstone Net Lease’s Third Quarter 2025 Earnings Conference Call. My name is Elliot, and I will be your operator today. Please note that today’s call is being recorded.

I’ll now turn the call over to Brent Maedl, Director of Corporate Finance and Investor Relations at Broadstone. Please go ahead.

Brent Maedl

Thank you, everyone, for joining us today for Broadstone Net Lease’s Third Quarter 2025 Earnings Call. On today’s call, you will hear prepared remarks from Chief Executive Officer, John Moragne; President and Chief Operating Officer, Ryan Albano; and Chief Financial Officer, Kevin Fennell. All 3 will be available for the Q&A portion of this call. As a reminder, the following discussion and answers to your questions contain forward-looking statements, which are subject to risks and uncertainties that can cause actual results to differ materially due to a variety of factors. We caution you not to place undue reliance on these forward-looking statements. For a more detailed discussion of risk factors that may cause such differences, please refer to our SEC filings, including our Form 10-K for the year ended December 31, 2024, and our Form 10-Q for the quarter ended March 31, 2025, and note that such risk factors may be updated in our quarterly SEC filings. Any forward-looking statements provided during