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Mar 31, 2023
Boston Properties Q1 2023 Earnings Report
Boston Properties' Q1 2023 financial results were released, showcasing revenue and FFO performance.
Key Takeaways
Boston Properties reported a net income attributable to the company of $77.89 million and FFO attributable to the company of $271.95 million for Q1 2023. The company's revenue reached $803.20 million.
Net income attributable to Boston Properties, Inc. was $77.89 million, or $0.50 per diluted share.
FFO attributable to Boston Properties, Inc. was $271.95 million, or $1.73 per diluted share.
The company's share of same property NOI (excluding termination income) increased by 0.4%.
In-service properties were 88.6% occupied.
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
BXP provided guidance for the second quarter and full year 2023 for EPS and FFO per share.
Positive Outlook
- Management expects current and future market conditions to remain stable.
- Rental rates are expected to remain consistent.
- Occupancy levels are projected to stay within the guided range.
- Interest rates are factored into the estimates.
- The timing of lease-up of available space is considered.
Challenges Ahead
- Possible future gains or losses from property acquisitions or dispositions are excluded.
- The impacts of any other capital markets activity are not included.
- Future write-offs or reinstatements of accounts receivable and accrued rent balances are not considered.
- Future impairment charges are not factored in.
- EPS estimates may be subject to fluctuations due to changes in depreciation and amortization expense.
Revenue & Expenses
Visualization of income flow from segment revenue to net income