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Dec 31, 2022
Boston Properties Q4 2022 Earnings Report
Boston Properties' Q4 2022 earnings reflected a net income of $121.79 million and diluted EPS of $0.78.
Key Takeaways
Boston Properties' Q4 2022 earnings showed a net income attributable to Boston Properties, Inc. of $121.79 million, or $0.78 per diluted share. The company's FFO attributable to Boston Properties, Inc. was $292.94 million, or $1.86 per diluted share. Revenue for the quarter totaled $789.82 million.
Net income attributable to Boston Properties, Inc. was $121.79 million.
Diluted EPS was $0.78.
FFO attributable to Boston Properties, Inc. was $292.94 million.
Diluted FFO per share was $1.86.
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’s guidance for the first 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
- Average In-service portfolio occupancy between 88.00% and 89.50%
- Increase in BXP’s Share of Same Property net operating income (excluding termination income) between (0.50)% and 0.50%
- Increase in BXP’s Share of Same Property net operating income - cash (excluding termination income) between 1.00% and 2.50%
- BXP’s Share of Non Same Properties’ incremental contribution to net operating income over prior year (excluding asset sales) between $98,000 and $108,000
- Termination income between $3,000 and $5,000
Challenges Ahead
- BXP’s Share of incremental net operating income related to asset sales over prior year between $(30,000) and $(28,000)
- BXP’s Share of straight-line rent and fair value lease revenue (non-cash revenue) between $100,000 and $120,000
- General and administrative expense between $(164,000) and $(157,000)
- Consolidated net interest expense between $(525,000) and $(515,000)
- Noncontrolling interest in property partnerships’ share of FFO between $(152,000) and $(147,000)
Revenue & Expenses
Visualization of income flow from segment revenue to net income