---
schema_version: "secwatch.filing_event.v1"
accession: "0000907254-25-000045"
form_type: "8-K"
ticker: "BFS"
cik: "0000907254"
company_name: "SAUL CENTERS, INC."
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T06:27:36.208463+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Saul Centers Q1 EPS $0.29 vs $0.45; net income $12.8M

## Summary
- Total revenue $71.9M, up from $66.7M in Q1 2024; net income dropped to $12.8M from $18.3M.
- Diluted EPS $0.29, net income available to common stockholders $7.0M compared to $0.45 and $10.8M.
- Initial operations of Twinbrook Quarter Phase I reduced net income by $6.5M; 274 residential units leased as of May 5.
- Same-property revenue +2.7% ($1.8M), but same-property NOI -0.5%; shopping center NOI -$0.5M, mixed-use +$0.3M.

## SEC filing metadata
- accession: 0000907254-25-000045
- form_type: 8-K
- ticker: BFS
- cik: 0000907254
- company_name: SAUL CENTERS, INC.
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/907254/000090725425000045/0000907254-25-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/907254/000090725425000045/bfs-20250508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000907254-25-000045
- JSON: https://secwatch.observer/filing/0000907254-25-000045.json
- Plain text: https://secwatch.observer/filing/0000907254-25-000045.txt

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