Boston Properties Q1 FFO Beats at $1.59; Revenue Tops $872M, Guides $6.90–$7.04
Boston Properties reported Q1 funds from operations of $252.2 million ($1.59 per share), topping the $1.58 consensus, and posted revenue of $872.1 million (adjusted $818.2 million) versus $801.4 million expected. Net income was $101.6 million ($0.64 per share), full-year FFO guidance is $6.90–$7.04 per share, and shares have fallen 12% year-to-date.
1. Q1 Earnings Performance
Boston Properties reported first-quarter funds from operations of $252.2 million, or $1.59 per share, surpassing the $1.58 consensus. Net income totaled $101.6 million, or $0.64 per share, on revenue of $872.1 million (adjusted $818.2 million), above the $801.4 million forecast.
2. Full-Year FFO Guidance
Management set full-year funds from operations at $6.90 to $7.04 per share, reflecting expectations for sustained property income and stable leasing conditions across its office portfolio.
3. Share Price Movement
Shares of Boston Properties have declined approximately 12% year-to-date, trading near $59.16, underperforming the broader market’s modest gain over the same period.