Loading...
•
Jun 30, 2023
Boston Properties Q2 2023 Earnings Report
Boston Properties' performance was solid, marked by increased revenue and FFO.
Key Takeaways
Boston Properties reported a net income attributable to Boston Properties, Inc. of $104.3 million, or $0.66 per diluted share, and FFO attributable to Boston Properties, Inc. of $292.8 million, or $1.86 per diluted share for the quarter ended June 30, 2023.
Total revenue increased to $817.2 million.
Net income attributable to Boston Properties, Inc. was $104.3 million.
FFO attributable to Boston Properties, Inc. reached $292.8 million.
Diluted FFO per share was $1.86.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
BXP’s guidance for the third quarter 2023 and full year 2023 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
- EPS (diluted) is projected to be between $0.63 and $0.65 for the third quarter of 2023.
- EPS (diluted) is projected to be between $2.42 and $2.47 for the full year 2023.
- FFO per share (diluted) is projected to be between $1.83 and $1.85 for the third quarter of 2023.
- FFO per share (diluted) is projected to be between $7.24 and $7.29 for the full year 2023.
- Average In-service portfolio occupancy is expected to be between 88.00% and 89.50% for the full year 2023.
Challenges Ahead
- BXP’s Share of incremental net operating income related to asset sales over prior year for full year 2023 is projected to be between $(30,000) and $(28,000).
- General and administrative expense for full year 2023 is projected to be between $(164,000) and $(157,000).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...