Boston Properties Q1 EPS $0.91 beats guidance; FFO $1.82; acquires Seattle tower for ~$730M

BXP, Inc.

2022-Q1 EPS reported $0.91 revenue$754,307,000

Q1 revenue $754.3M (+6% YoY); net income $143M ($0.91 EPS) vs $91.6M ($0.59) prior year.
FFO $1.82/share, exceeding mid-point guidance; driven by portfolio performance and reinstated accrual accounting.
Executed 1.2M SF of leases in Q1 (double YoY); including 330K SF renewal at 601 Lexington Ave, NY.
Agreed to acquire Madison Centre in Seattle for ~$730M; signed 570K SF lease with AstraZeneca in Cambridge, MA.
FY 2022 guidance: EPS $5.32-$5.42; FFO $7.40-$7.50; Q2 EPS $0.79-$0.81; FFO $1.84-$1.86.

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