Boston Properties (BXP) Tops Q4 EPS by 107c; offers guidance

Boston Properties (NYSE: BXP) reported Q4 EPS of $1.56, $1.07 better than the analyst estimate of $0.49. Revenue for the quarter came in at $877.1 million versus the consensus estimate of $861 million.

Guidance

BXP provided updated guidance for first quarter 2026 EPS of $0.32 - $0.34 and FFO of $1.56 - $1.58 per diluted share, and full year 2026 EPS of $2.08 - $2.29 and FFO of $6.88 - $7.04 per diluted share.

The midpoint of our full-year 2026 guidance is $0.11 per share greater than our 2025 FFO per share and includes the following assumptions:

Projected growth in same-property NOI, driven by higher occupancy and improved leasing activity.
Incremental NOI from development deliveries to be placed into service during the year.
A reduction in NOI associated with removing three properties from service for redevelopment into residential use.
Higher G&A expense of $0.07 per share, primarily related to non-cash amortization expense associated with the 2025 Outperformance Plan.
Net earnings dilution from strategic asset sales, net of reduced interest expense from the investment of sale proceeds, of $0.06 to $0.08 per share consistent with the range previously communicated at Investor Day. These transactions remain aligned with BXP’s long-term strategy to optimize the portfolio, enhance operating performance, and strengthen balance sheet flexibility.

For earnings history and earnings-related data on Boston Properties (BXP) click here.

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