NYSE$BXP
Boston Properties Inc · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Reported a net loss due to impairment charges related to unconsolidated joint ventures.
Boston Properties reported a net loss attributable to BXP, Inc. of $(230.0) million, or $(1.45) per diluted share, primarily due to impairment charges totaling approximately $341.3 million related to the Company’s investments in three unconsolidated joint ventures. Diluted FFO per share was $1.79.
- Net loss attributable to BXP, Inc. was $(230.0) million, or $(1.45) per diluted share.
- Diluted FFO per share was $1.79.
- Revenue was $858.6 million.
- Occupancy % of In-Service Properties was 87.5%.
Headline financials
Revenue & EPS history
Boston Properties · Revenue · Quarterly
$859M
Revenue by segment
Boston Properties · $820M total across 4 segments · Q3 2023
- Lease$767M+3.8%93.6%
- Parking and Other$29.6M+12.9%3.6%
- Hotel$13.5M+14.8%1.6%
- Dev & Mgmt Services$9.28M+24.4%1.1%
Forward guidance
BXP’s guidance for the first quarter and full year 2025 for diluted earnings per common share attributable to BXP, Inc. (EPS) and diluted funds from operations (FFO) per common share attributable to BXP, Inc. is set forth and reconciled below.
Tailwinds
- Projected EPS (diluted) for First Quarter 2025: $0.33 - $0.35
- Projected FFO per share (diluted) for First Quarter 2025: $1.63 - $1.65
- Projected EPS (diluted) for Full Year 2025: $1.57 - $1.75
- Projected FFO per share (diluted) for Full Year 2025: $6.77 - $6.95
- Average In-service portfolio occupancy for Full Year 2025: 86.50% - 88.00%
Headwinds
- Change in BXP’s Share of Same Property net operating income (excluding termination income) for Full Year 2025: (1.00)% - 0.50%
- Change in BXP’s Share of Same Property net operating income - cash (excluding termination income) for Full Year 2025: 0% - 1.50%
- Taking Buildings Out-of-Service for Full Year 2025: $(11,300)
- Consolidated net interest expense for Full Year 2025: $(625,000) - $(610,000)
- Unconsolidated joint venture interest expense for Full Year 2025: $(80,000) - $(75,000)
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
-0.1%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+0.7%
Avg return
30 days after
50%
36 / 72 earnings
Positive
+6.4%
Q2 2018
Best reaction
-7.9%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.0% | +1.6% | +4.4% | |
| Q4 2025 | -2.5% | -1.0% | +1.6% | |
| Q3 2025 | -5.0% | -4.7% | -2.3% | |
| Q1 2025 | -2.1% | -0.6% | +3.4% | |
| Q4 2024 | -5.9% | -2.0% | -3.1% | |
| Q3 2024 | -5.3% | -9.4% | -5.2% | |
| Q2 2024 | -0.1% | -6.2% | +4.3% | |
| Q1 2024 | -5.7% | -3.3% | -7.4% | |
| Q4 2023 | -7.9% | -11.8% | -10.4% | |
| Q3 2023 | +4.2% | +7.1% | +18.1% | |
| Q2 2023 | +0.6% | +2.9% | +0.2% | |
| Q1 2023 | -1.6% | +2.6% | -8.5% | |
| Q4 2022 | +3.0% | +4.6% | -9.8% | |
| Q3 2022 | +0.1% | -0.0% | -3.7% | |
| Q2 2022 | +0.9% | +2.2% | -5.7% | |
| Q1 2022 | +3.2% | +1.3% | -8.0% | |
| Q4 2021 | -0.3% | -1.5% | +4.3% | |
| Q3 2021 | -1.7% | -3.1% | +0.7% | |
| Q2 2021 | +2.3% | +1.7% | -3.0% | |
| Q1 2021 | +0.2% | +1.9% | +8.7% | |
| Q4 2020 | -1.7% | -0.0% | +12.5% | |
| Q3 2020 | -5.6% | -4.0% | +35.7% | |
| Q2 2020 | +1.0% | -0.7% | -1.4% | |
| Q1 2020 | +4.4% | -1.3% | -6.8% | |
| Q4 2019 | +1.3% | +1.6% | -9.1% | |
| Q3 2019 | +4.7% | +3.6% | +4.8% | |
| Q2 2019 | +0.5% | -1.6% | -3.2% | |
| Q1 2019 | +1.9% | -0.5% | -3.4% | |
| Q4 2018 | +4.5% | +5.1% | +6.3% | |
| Q3 2018 | +3.2% | +1.7% | +10.9% | |
| Q2 2018 | +6.4% | +5.8% | +6.7% | |
| Q1 2018 | -0.2% | +3.3% | +0.8% | |
| Q4 2017 | +2.0% | -1.6% | -2.8% | |
| Q3 2017 | +1.3% | +1.9% | +4.9% | |
| Q2 2017 | +0.8% | +2.7% | -0.3% | |
| Q1 2017 | -4.1% | -4.7% | -8.1% | |
| Q4 2016 | -0.8% | +0.3% | +4.1% | |
| Q3 2016 | -2.6% | -5.7% | -3.0% | |
| Q2 2016 | -0.3% | +2.2% | +1.0% | |
| Q1 2016 | +0.5% | — | — | |
| Q4 2015 | +2.1% | — | — | |
| Q3 2015 | +3.0% | — | — | |
| Q2 2015 | -1.2% | — | — | |
| Q1 2015 | +0.3% | — | — | |
| Q4 2014 | -2.9% | — | — | |
| Q3 2014 | +1.5% | — | — | |
| Q2 2014 | -0.4% | — | — | |
| Q1 2014 | -1.0% | — | — | |
| Q4 2013 | +1.4% | — | — | |
| Q3 2013 | -2.2% | — | — | |
| Q2 2013 | -1.9% | — | — | |
| Q1 2013 | -0.4% | — | — | |
| Q4 2012 | -2.1% | — | — | |
| Q3 2012 | -1.4% | — | — | |
| Q2 2012 | -0.4% | — | — | |
| Q1 2012 | -1.7% | — | — | |
| Q4 2011 | -0.8% | — | — | |
| Q3 2011 | -3.1% | — | — | |
| Q2 2011 | +0.2% | — | — | |
| Q1 2011 | +2.8% | — | — | |
| Q4 2010 | +3.8% | — | — | |
| Q3 2010 | +0.8% | — | — | |
| Q2 2010 | +1.2% | — | — | |
| Q1 2009 | -5.7% | — | — | |
| Q1 2010 | -1.0% | — | — | |
| Q4 2009 | +1.8% | — | — | |
| Q4 2007 | +1.8% | — | — | |
| Q3 2008 | -0.4% | — | — | |
| Q3 2009 | -0.4% | — | — | |
| Q2 2008 | +3.2% | — | — | |
| Q2 2009 | +3.2% | — | — | |
| Q4 2008 | +3.2% | — | — |
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