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Boston Properties (BXP)
NYSE:BXP
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Earnings Data
Report Date
Feb 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.48Last Year’s EPS
$0.76Same Quarter Last Year
Moderate Buy
Based on 14 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: -13.40%
|Next Earnings Date:Feb 04, 2025
Earnings Call Sentiment|Neutral
The call reflected BXP's resilience with strong leasing volumes, sustainability achievements, and strategic positioning amidst market challenges. However, there are notable occupancy challenges and market uncertainties, particularly in development leasing and in the tech sector.Company Guidance
During BXP's Q3 2024 earnings call, the company highlighted a number of key metrics and guidance that underscore its resilience and growth trajectory. BXP reported a Funds From Operations (FFO) per share of $1.81, which was $0.01 above their forecast and aligned with market consensus. The company completed over 1.1 million square feet of leasing in the quarter, marking a 5% increase compared to the third quarter of 2023, and for the first nine months of 2024, leasing volume was up by 25% from last year. The average term for office leases signed in the quarter was 7.2 years. The Federal Reserve's recent 50 basis-point rate cut and the anticipated future cuts are expected to positively impact real estate valuations and corporate earnings, providing a favorable economic environment for BXP. The company also noted that S&P 500 earnings are projected to grow by 9.9% in 2024, which could spur further leasing activity. BXP's portfolio, characterized by premier workplace assets, showed strong performance with a 90.1% occupancy rate and a 92.1% leased rate as of the end of the third quarter. The company continues to leverage its strong balance sheet, expecting to capitalize on opportunities in the private market with potential acquisitions and developments, given the current market conditions and improving debt financing availability.Leasing Volume Increase
BXP completed over 1.1 million square feet of leasing in Q3, a 5% increase compared to Q3 2023. For the first three quarters of 2024, leasing volume increased by 25% compared to the same period last year.
Sustainability Recognition
BXP received awards for sustainability, including being named one of the world's most sustainable companies by Time Magazine and Statista, and receiving the NAREIT Sustainable Design Impact Award.
Strong Balance Sheet and Debt Market Access
BXP showed strong access to debt markets with multiple transactions including an $850 million 10-year bond issuance at a 5.75% coupon.
Return-to-Office Trends
Return-to-office behaviors are improving, with companies like Amazon and Salesforce requiring more in-office work. A survey indicated 84% of CEOs expect a full return to office within three years.
Public Market Performance
Publicly traded office companies generated a 30% return in the first three quarters of 2024.
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BXP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BXP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $86.19 | $82.75 | -3.99% |
| Jul 30, 2024 | $71.75 | $70.44 | -1.83% |
| Apr 30, 2024 | $60.16 | $57.59 | -4.27% |
| Jan 30, 2024 | $66.95 | $63.60 | -5.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Boston Properties (BXP) report earnings?
Boston Properties (BXP) is schdueled to report earning on Feb 04, 2025, TBA Not Confirmed.
What is Boston Properties (BXP) earnings time?
Boston Properties (BXP) earnings time is at Feb 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BXP EPS forecast?
BXP EPS forecast for the fiscal quarter 2024 (Q4) is $0.48.
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