earnings
confidence high
sentiment neutral
materiality 0.80
BXP Q3 EPS $2.29 beats mid-point by $1.54; FFO $1.91; 2023 guidance lower
BXP, Inc.
2022-Q3 EPS reported
$4.62
revenue$2,318,757,000
- Revenue $790.5M (+8.3% YoY); net income $361M ($2.29 EPS); FFO $299.8M ($1.91).
- EPS beat included $1.50 gain on sale of 601 Mass Ave ($531M gross); FFO beat by $0.04.
- FY2022 EPS guidance $5.55-$5.57, FFO $7.51-$7.53; FY2023 EPS $2.27-$2.42, FFO $7.15-$7.30.
- Leased 1.4M SF in Q3; acquired 125 Broadway lab in Kendall Sq for ~$592.4M; disposed 601 Mass Ave and land parcels.
- Agreed to acquire ~27% interest in 200 Fifth Ave, NYC for ~$280.2M and sell Avant residential for ~$141M.