Broadstone Net Lease, Inc. Earnings Per Share Disclosure
| For the Year Ended December 31, | |||||||||||||||||
| (in thousands, except per share amounts) | 2025 | 2024 | 2023 | ||||||||||||||
| Basic earnings: | |||||||||||||||||
| Net earnings attributable to Broadstone Net Lease, Inc. common shareholders | $ | 96,495 | $ | 162,441 | $ | 155,478 | |||||||||||
| Less: earnings allocated to unvested restricted shares | (1,241) | (1,166) | (560) | ||||||||||||||
| Net earnings used to compute basic earnings per common share | $ | 95,254 | $ | 161,275 | $ | 154,918 | |||||||||||
| Diluted earnings: | |||||||||||||||||
| Net earnings used to compute basic earnings per common share | $ | 95,254 | $ | 161,275 | $ | 154,918 | |||||||||||
| Add: net earnings attributable to OP Unit holders | 4,211 | 7,548 | 7,834 | ||||||||||||||
| Net earnings used to compute diluted earnings per common share | $ | 99,465 | $ | 168,823 | $ | 162,752 | |||||||||||
| Weighted average number of common shares outstanding | 189,181 | 188,378 | 187,101 | ||||||||||||||
Less: weighted average unvested restricted shares (a) | (1,058) | (924) | (484) | ||||||||||||||
| Weighted average number of common shares outstanding used in basic earnings per common share | 188,123 | 187,454 | 186,617 | ||||||||||||||
Add: effects of restricted stock units (b) | 1,066 | 378 | 291 | ||||||||||||||
Add: effects of convertible OP Units (c) | 8,384 | 8,787 | 9,407 | ||||||||||||||
| Weighted average number of common shares outstanding used in diluted earnings per common share | 197,573 | 196,619 | 196,315 | ||||||||||||||
| Basic earnings per share | $ | 0.51 | $ | 0.86 | $ | 0.83 | |||||||||||
| Diluted earnings per share | $ | 0.50 | $ | 0.86 | $ | 0.83 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Mar 14, 2019 | |
| 2017 | Mar 15, 2018 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.