---
schema_version: "secwatch.filing_event.v1"
accession: "0001656423-23-000020"
form_type: "8-K"
ticker: "BXP"
cik: "0001037540"
company_name: "BXP, Inc."
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T15:17:57.115749+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BXP Q1 2023 FFO $1.73/share, revenue up 6.5%; commences two life sciences projects in Cambridge

## Summary
- Q1 revenue $803.2M (+6.5% YoY); net income $77.9M ($0.50 EPS) vs $143.0M ($0.91 EPS) in Q1 2022.
- FFO $272.0M ($1.73/share) vs $286.1M ($1.82/share) in Q1 2022; FFO beat guidance mid-point by $0.06.
- Commenced development of 290 Binney St (566k sq ft lab, 100% pre-leased to AstraZeneca for 15 years) and redevelopment of 300 Binney St (236k sq ft lab, pre-leased to Broad Institute for 15 years).
- Closed $1.2B term loan facility in Jan 2023; used $730M to repay maturing term loan, net proceeds ~$464M.
- Guidance: Q2 2023 EPS $0.59-$0.61, FFO $1.79-$1.81; FY 2023 EPS $2.30-$2.36, FFO $7.14-$7.20.

## SEC filing metadata
- accession: 0001656423-23-000020
- form_type: 8-K
- ticker: BXP
- cik: 0001037540
- company_name: BXP, Inc.
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1037540/000165642323000020/0001656423-23-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1037540/000165642323000020/bxp-20230425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001656423-23-000020
- JSON: https://secwatch.observer/filing/0001656423-23-000020.json
- Plain text: https://secwatch.observer/filing/0001656423-23-000020.txt

## Key facts
- Earnings Releases
  BXP, Inc. reported first quarter ended March 31, 2023 results: revenue $803.2 million, net income $77.9 million, EPS $0.50 per diluted share (EPS).
  - Period: first quarter ended March 31, 2023
  - Revenue: $803.2 million
  - Net income: $77.9 million
  - EPS: $0.50 per diluted share (EPS)
  - Result: reported results
  source text: Financial highlights for the first quarter include: • Revenue increased 6.5% to $803.2 million for the quarter ended March 31, 2023, as compared to $754.3 million for the quarter ended March 31, 2022. • Net income attributable to common shareholders of $77.9 million, or $0.50 per diluted share (EPS), for the quarter ended March 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1037540/000165642323000020/0001656423-23-000020-index.htm

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