Global Net Lease (GNL) Misses Q3 EPS by 8c, Revenues Miss

Global Net Lease (NYSE: GNL) reported Q3 EPS of $0.03, $0.08 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $72 million versus the consensus estimate of $73.41 million.

James Nelson, Chief Executive Officer of GNL commented, "Our third quarter results reflect continued execution of our long range strategic plan to build a diversified global net lease portfolio and deliver an attractive return to our investors. As we grow our portfolio we will remain focused on acquiring high quality properties which are leased long-term to tenants with strong and stable credit. The commitment to steady execution, combined with rent growth in our current leases, resulted in record quarterly revenue and AFFO. Key to delivering these great results is the continued evolution of our balance sheet. During the quarter, we refinanced almost $300 million of our UK debt at very attractive terms. We believe our capital structure allows us to continue to identify and close transactions at attractive cap rates."

For earnings history and earnings-related data on Global Net Lease (GNL) click here.

You May Also Be Interested In

• Barclays sees global expansion intact, warns against market complacency
• Trip.com Group Limited (TCOM) PT Lowered to $65 at Benchmark
• McCormick & Co. (MKC) Tops Q2 EPS by 10c ; Offers Guidance