Broadstone Net Lease, Inc. (NYSE:BNL) Q2 2023 Earnings Conference Call August 3, 2023 11:00 AM ET

Company Participants

Mike Caruso - Senior Vice President, Corporate Strategy and IR

John Moragne - Chief Executive Officer

Ryan Albano - President and COO

Kevin Fennell - Chief Financial Officer

Conference Call Participants

Ki Bin Kim - Truist Securities

Michael Gorman - BTIG

John Kim - BMO Capital Markets

Ronald Kamdem - Morgan Stanley

Operator

Hello. And welcome to Broadstone Net Lease’s Second Quarter 2023 Earnings Conference Call. My name is Jordan, and I will be your operator today. Please note that today’s call is being recorded.

I will now turn the call over to Mike Caruso, Senior Vice President of Corporate Strategy and Investor Relations at Broadstone. Please go ahead.

Mike Caruso

Thank you, Operator. And thank you everyone for joining us today for Broadstone Net Lease’s second quarter 2023 earnings call. On today’s call, you will hear prepared remarks from CEO, John Moragne; President and COO, Ryan Albano; and CFO, Kevin Fennell. All three will be available for the Q&A portion of this call.

Before we begin, I would like to remind everyone that the following presentation contains forward-looking statements, which are subject to risks and uncertainties that could 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 and refer you to our SEC filings including our Form 10-K for the year ended December 31, 2022, for a more detailed discussion of the risk factors that may cause such differences. Any forward-looking statements provided during this conference call are only made as of the date of this call.

I will now turn the call over to John.

John Moragne

Thank you, Mike, and good morning, everyone. Thank you all for joining today’s call. As we detailed in last night’s earnings release, I am pleased to report another strong quarter of results and thoughtful capital allocation as we turn the page on the first half of 2023.

Our mission is to deliver sustainable long-term growth and value creation for BNL shareholders and we believe that the prudent and selective approach we have chosen to employ this year has laid the foundation for that.

Our second quarter results were driven by solid same-store portfolio performance and accretive capital recycling efforts. BNL is positioned to continue to provide predictable results for our shareholders in the second half of the year and beyond, because of our solid and diversified portfolio, our patient and disciplined execution strategy, our growing pipeline of accretive opportunities to invest capital and our flexible and fortified balance sheet.