Earnings Call
Apr 28, 2026
Q1 FY2026
EPS Estimate
0.28
EPS Actual
0.64
Post-Earnings Close
$57.60
Earnings Reaction
-2.6%
BXP's first quarter came in $0.02 above the midpoint of its own guidance and $0.01 ahead of consensus, with FFO of $1.59 per share driven by faster-than-expected lease commencements at 535 Mission and 680 Folsom in San Francisco, stronger service revenue in New York and San Francisco, and $12.8 million of termination income. The portfolio outperformed by $0.03 per share, partially offset by $0.01 of higher net interest expense as commercial paper rates widened 25-30 basis points during the quarter amid fixed income market volatility. Full-year 2026 FFO guidance was nudged up $0.01 at the midpoint to a range of $6.90-$7.04, with same-property NOI growth assumptions lifted 15 basis points to 1.4%-2.4% and average occupancy guidance raised 25 basis points to 88.25% for the year.
Report generated on Apr 30, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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