BXP Q3 revenue up 4.3% to $824M but net loss of $112M driven by $272.6M impairment on joint ventures

BXP, Inc.

2023-Q3 EPS reported $0.45 revenue$2,444,636,000

Revenue $824.3M (+4.3% YoY); net loss attributable $111.8M ($0.71 diluted EPS) vs net income of $361M ($2.29) in Q3 2022.
FFO $292.8M ($1.86 per share) vs $299.8M ($1.91) in Q3 2022; FFO per share beat guidance midpoint by $0.02.
Non-cash impairment charges of $272.6M on investments in Platform 16, Safeco Plaza, and NYC properties.
Full year 2023 guidance: EPS $1.05-$1.07, FFO $7.25-$7.27 per diluted share.
Executed 1.06M sq ft of leases (8.2 yr WA term); delivered two development properties; 343 Madison Avenue JV.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

BXP, Inc. reported third quarter ended September 30, 2023 results: revenue $824.3 million, net income $(111.8) million, or $(0.71) per diluted share, EPS $(0.71) per diluted share.

Period: third quarter ended September 30, 2023
Revenue: $824.3 million
Net income: $(111.8) million, or $(0.71) per diluted share
EPS: $(0.71) per diluted share
Result: reported results

Exact text from the filing

in the United States, reported results today for the third quarter ended September 30, 2023. Financial highlights for the third quarter include: • Revenue increased 4.3% to $824.3 million for the quarter ended September 30, 2023, compared to $790.5 million for the quarter ended September 30, 2022. • Net income (loss) attributable to Boston Properties, Inc. of

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Source: SEC EDGAR

accession 0001656423-23-000045

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