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Mar 31, 2022
Boston Properties Q1 2022 Earnings Report
Boston Properties' financial performance reflected a strong start to 2022.
Key Takeaways
Boston Properties reported a net income attributable to Boston Properties, Inc. of $143.05 million, or $0.91 per diluted share, and FFO attributable to Boston Properties, Inc. of $286.14 million, or $1.82 per diluted share for the quarter ended March 31, 2022.
Total revenue was reported at $754.31 million.
Net income attributable to Boston Properties, Inc. was $143.05 million.
FFO attributable to Boston Properties, Inc. was $286.14 million.
Occupancy of In-Service Properties was 89.1%.
Boston Properties
Boston Properties
Boston Properties Revenue by Segment
Revenue by Segment
Lease Revenue
CapyFin.comParking and other Revenue
CapyFin.comHotel Revenue
CapyFin.comDevelopment & Mgmt Revenue
CapyFin.com Forward Guidance
The Company’s guidance for the second quarter and full year 2022 for diluted earnings per common share attributable to Boston Properties, Inc. (EPS) and diluted funds from operations (FFO) per common share attributable to Boston Properties, Inc. is set forth and reconciled below.
Positive Outlook
- Projected EPS (diluted) Low: $0.79, High: $0.81
- Projected FFO per share (diluted) Low: $1.84, High: $1.86
- Average In-service portfolio occupancy: 88.00 % - 90.00 %
- Increase in BXP’s Share of Same Property net operating income (excluding termination income): 2.75 % - 3.75 %
- Increase in BXP’s Share of Same Property net operating income - cash (excluding termination income): 5.00 % - 6.00 %
Challenges Ahead
- Projected EPS (diluted) Low: $5.32, High: $5.42
- Projected Company share of (gains)/losses on sales of real estate: (2.22)
- Projected FFO per share (diluted) Low: $7.40, High: $7.50
- BXP’s Share of incremental net operating income related to asset sales over prior year: $(33,000) - $(27,000)
- General and administrative expense Excludes estimated changes in the market value of the Company’s deferred compensation plan and gains (losses) from investments in securities: $(157,000) - $(151,000)
Revenue & Expenses
Visualization of income flow from segment revenue to net income