earnings
confidence high
sentiment neutral
materiality 0.75
BXP Q4 revenue $828.9M, EPS $0.76, FFO $1.82; guides 2024 EPS $2.26-2.46, FFO $7.00-7.20
BXP, Inc.
2023-FY EPS reported
$1.21
revenue$3,273,569,000
- Q4 2023 revenue $828.9M (+5% YoY); net income $119.9M ($0.76 EPS) vs $121.8M ($0.78) a year ago.
- Full year 2023 net income $190.2M ($1.21 EPS) vs $848.9M ($5.40); FFO $1.1B ($7.28) vs $1.2B ($7.53).
- Guidance: Q1 2024 EPS $0.66-0.68, FFO $1.72-1.74; full year 2024 EPS $2.26-2.46, FFO $7.00-7.20.
- Leased 1.5M sqft in Q4, 4.2M in 2023; sold 45% stake in two life sciences projects to NBIM at ~$1.66B valuation.
- Closed $600M mortgage loan (6.04% all-in); acquired partner interests in Santa Monica, 360 Park Ave S, and 901 New York Ave.