---
schema_version: "secwatch.filing_event.v1"
accession: "0000907254-23-000037"
form_type: "8-K"
ticker: "BFS"
cik: "0000907254"
company_name: "SAUL CENTERS, INC."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:50:08.906306+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Saul Centers Q1 2023: net income $17.7M, EPS $0.45, revenue $63.0M

## Summary
- Revenue $63.0M vs $62.1M YoY (+1.4%); net income $17.7M vs $17.5M.
- FFO available to common stockholders $10.7M ($0.45 per share) vs $10.6M ($0.44).
- Same-property revenue +$0.9M (+1.5%); same-property operating income +$1.6M (+3.5%).
- Higher base rent at The Waycroft (+$0.8M) and portfolio (+$0.8M) offset by higher interest expense (+$1.2M).

## SEC filing metadata
- accession: 0000907254-23-000037
- form_type: 8-K
- ticker: BFS
- cik: 0000907254
- company_name: SAUL CENTERS, INC.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/907254/000090725423000037/0000907254-23-000037-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/907254/000090725423000037/bfs-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000907254-23-000037
- JSON: https://secwatch.observer/filing/0000907254-23-000037.json
- Plain text: https://secwatch.observer/filing/0000907254-23-000037.txt

## Key facts
- Earnings Releases
  SAUL CENTERS, INC. reported the quarter ended March 31, 2023 results: revenue $63.0 million, net income $17.7 million, EPS $0.45 per basic and diluted share.
  - Period: the quarter ended March 31, 2023
  - Revenue: $63.0 million
  - Net income: $17.7 million
  - EPS: $0.45 per basic and diluted share
  - Result: reported results
  source text: Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust (“REIT”), announced its operating results for the quarter ended March 31, 2023 (“2023 Quarter”). Total revenue for the 2023 Quarter increased to $63.0 million from $62.1 million for the quarter ended March 31, 2022 (“2022 Quarter”). Net income increased to $17.7 million for the 2023 Quarter from $17.5 million for the 2022 Quarter
  evidence_url: https://www.sec.gov/Archives/edgar/data/907254/000090725423000037/0000907254-23-000037-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.