earnings
confidence high
sentiment neutral
materiality 0.75
BXP Q2 2024 revenue up 4.1% to $850.5M; EPS $0.51 beats guidance; raises FY2024 outlook
BXP, Inc.
2024-Q2 EPS reported
$1.01
revenue$1,689,921,000
- Net income $79.6M ($0.51 EPS) vs $104.3M ($0.66) YoY; FFO $1.77 vs $1.86 per share. Revenue $850.5M (+4.1% YoY).
- Guidance raised: Q3 2024 EPS $0.54-0.56, FFO $1.80-1.82; FY 2024 EPS $2.08-2.14, FFO $7.09-7.15.
- Leased over 1.3M sq ft in 73 leases (9.0 yr avg). CBD portfolio 90.4% occupied, 92.2% leased.
- Completed 760 Boylston (118K sq ft, 100% leased to Dick's Sporting Goods). Skymark residential (508 units) partially placed in service (20% JV).
- Established $500M commercial paper program; $500M outstanding at 5.60% avg. Extended term loan to May 2025; increased credit facility to $2.0B.