Boston Properties Updates FY Profit Outlook

(RTTNews) - While announcing its fourth quarter results, Boston Properties Inc. (BXP) provided updated guidance for full year 2023 earnings per share of $2.36 - $2.46 and funds from operations of $7.08 - $7.18 per share.

The mid-point of the updated guidance for full year 2023 earnings per share is projected to be $0.07 per share greater than the guidance provided on October 25, 2022, primarily due to decreased depreciation and amortization expense.

The mid-point of the updated guidance for full year 2023 funds from operations per diluted share is projected to be $0.09 per share lower on a net basis than the guidance provided on October 25, 2022.

The company said in October 2022 that it expected full year 2023 earnings per share to be in the range of $2.27 - $2.42 and funds from operations of $7.15 - $7.30 per share.

The company said Tuesday that it expects first quarter 2023 earnings per share to be in the range of $0.52 - $0.54 and funds from operations of $1.66 - $1.68 per share.