BXP (BXP)
NYSE:BXP
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Earnings Data
Report Date
Aug 04, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.4Last Year’s EPS
0.56Same Quarter Last Year
Moderate Buy
Based on 15 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call was net positive: management reported a modest FFO beat, raised 2026 guidance slightly, and highlighted strong leasing momentum, occupancy gains, accelerating demand in AI/tech hubs, substantial disposition proceeds, and a deep development pipeline including progress at 343 Madison. Offsetting risks include higher interest expense, elevated lease-related CapEx, some tenant credit/termination noise, and ongoing concentration of improvement in premier assets versus weaker non-premier segments. Overall, positive operational progress and capital‑market activity outweigh the near-term financial headwinds.Company Guidance
FFO and Guidance Beat
Q1 FFO per share of $1.59, beating the midpoint of guidance by $0.02 and consensus by $0.01. Full-year 2026 FFO guidance range raised to $6.90–$7.04 per share (midpoint up $0.01).
Strong Leasing Activity
Executed 1.14 million square feet of leasing in Q1 (including 700,000 sq ft of vacant space and 235,000 sq ft of renewals/backfills). Pipeline of roughly 3.0 million sq ft (1.7M in negotiation + ~1.4M additional discussions). Signed-but-not-open/committed vacant space stands near 1.44–1.6 million sq ft, supporting near-term occupancy gains.
Occupancy Improvement
In‑service portfolio occupancy rose 70 basis points to 87.4% quarter-over-quarter. The leased-vs-occupied spread widened 80 basis points to 3.5%, and management expects to finish 2026 around 89% occupancy (projected incremental 150 bps improvement = ~670,000 sq ft). Full‑year 2026 average occupancy outlook was raised by 25 basis points to 88.25%.
Premier Workplace Outperformance
Premier workplace segment (top ~14% of space in four core CBD markets) shows much stronger fundamentals: direct vacancy 8.5% vs 13.8% for broader market and asking rents commanding >60% premium to non-premier buildings. Over the past three years, net absorption in premier workplaces was +11.9 million sq ft vs +420,000 sq ft for the rest of the market.
Material Dispositions and Capital Raise Progress
Net sale proceeds of $360 million in 2026 to date and $1.2 billion since the investor conference (land $250M, apartments $460M, office/lab/retail $500M). Under contract sales totaling ~$40 million and potential additional net proceeds in 2026 of up to $400M. Marriott HQ (743k sq ft) sold for $430M ($589/sf) at a 6.8% cap rate, generating a $35M gain on a $47M investment.
Development Pipeline and 343 Madison Progress
Current development pipeline: 3.4M sq ft with ~$3.6B of BXP investment. 343 Madison: 29% committed in mid-rise, negotiating another 27% (56% total), 83% of construction costs procured, projected stabilized unleveraged cash return of 7.5%–8% on delivery (2029); recapitalization targeted for 2026.
Early Delivery and Leasing-Driven NOI Upside
290 Binney Street to be delivered >1 month early with AstraZeneca commencing cash rent on April 1; same-property NOI growth assumption increased by 15 basis points to 1.4%–2.4% (excludes termination income). Signed vacant-space pipeline and near-term lease commencements expected to drive meaningful NOI/occupancy upside.
Macro/Market Signals Favorable for Office Transactions
Private market office transaction volume in Q1 was $14.1B (down seasonally from Q4 but +72% year-over-year), indicating improving buyer/investor activity in office markets.
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
BXP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 28, 2026 | $59.16 | $57.60 | -2.64% |
Jan 27, 2026 | $64.34 | $63.28 | -1.64% |
Oct 28, 2025 | $72.35 | $68.71 | -5.03% |
Jul 29, 2025 | $68.14 | $64.27 | -5.68% |
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.
FAQ
When does BXP (BXP) report earnings?
BXP (BXP) is schdueled to report earning on Aug 04, 2026, After Close (Confirmed).
What is BXP (BXP) earnings time?
BXP (BXP) earnings time is at Aug 04, 2026, After Close (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 2026 (Q2) is 0.4.