earnings
confidence high
sentiment positive
materiality 0.85
BXP Q2 EPS $1.42 beats guidance; raises FY22 outlook; leases 1.9M sf; closes $730M Seattle acquisition
BXP, Inc.
2022-Q2 EPS reported
$2.33
revenue$1,528,234,000
- Q2 EPS $1.42, FFO $1.94 vs mid-point guidance $0.80 and $1.85 respectively; revenue $773.9M (+8% YoY).
- Full-year 2022 EPS guidance raised to $5.40-$5.45 from prior; FFO raised to $7.48-$7.53.
- Leased 1.9M sf in Q2 (strongest since Q3 2019), including 570K sf life sciences lease at 290 Binney St, Cambridge.
- Acquired Madison Centre in Seattle for ~$730M, 93% leased, financed with term loan due May 2023.
- Sold 11 suburban office properties in Springfield, VA for $127M, gain $96.2M; refinanced Hub50House with $185M loan at ~4.432% fixed.