EarningsQ2 2026 Earnings Report
MX:BXP Q2 2026 EPS Results
Actual EPS$7.27
Consensus EPS$6.82
Beat/MissBeat by +$0.46
One Year Ago EPS$9.47
MX:BXP Q2 2026 Revenue Results
Actual Revenue$15.15B
Expected Revenue$14.51B
Beat/MissBeat by +$636.32M
YoY Revenue Growth+3.14%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeAfter Close
Conference CallTuesday, July 28, 2026
MX:BXP Upcoming Earnings
BXP's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:BXP Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed clear operational momentum: leasing volumes and occupancy gains materially outperformed expectations, FFO beat and guidance were raised, development execution and financing milestones were secured, and asset sale progress is accelerating capital‑raising. Offsetting risks are manageable near‑term headwinds—higher leasing CapEx and free‑rent timing that depress cash AFFO in 2026, some localized market softness (lab and selected submarkets), and refinancing/interest rate exposure. On balance the positives (accelerated leasing, occupancy, development returns, and capital actions) materially outweigh the negatives.Company Guidance
FFO Beat and Guidance Raise
Reported FFO per share of $1.78 in Q2, exceeding guidance and consensus by $0.08; raised 2026 FFO per share midpoint by $0.05 to a new range of $6.99–$7.05.
Material Occupancy Improvement
In‑service portfolio occupancy increased to 88.4% as of June 30, 2026 (from 86.7% at YE 2025 and 87.4% at Q1 2026), a ~170 basis point gain year‑to‑date and ahead of plan; raised average occupancy guidance to 88.9% and expects to finish 2026 closer to 90%.
Strong Leasing Volume
Completed nearly 1.8 million square feet of leasing in Q2 (29% above BXP's 10‑year historical Q2 average); year‑to‑date leasing exceeds 3.0 million square feet; signed large deals including a 322,000‑sf long‑term lease with Boston Dynamics.
Development Execution and Returns
Delivered 290 Binney Street (570k sf lab) fully leased to AstraZeneca, delivered $20M below budget and two months early; BXP's $488M share yields an 8.9% unleveraged cash return and 10.3% GAAP return. 343 Madison is 50% leased with projected stabilized unleveraged cash return of 7.5%–8%.
Successful Capital Raise / Asset Sales Progress
On track toward asset sales objective: $370M net proceeds raised YTD and >$1.2B since investor conference; six assets under contract (~$240M net) with ~$180M expected to close in 2026; potential to reach ~$1.7B net proceeds by year‑end toward $1.9B goal by 2028.
Attractive Project Financing Secured
Closed $1.2B construction loan for 343 Madison at favorable terms (60% LTC) priced at SOFR +250bps (steppable to +225bps on milestones); Worldgate multifamily launched with 80% partner equity and construction financing secured.
Development Pipeline and External Growth
Active pipeline of seven office and residential projects totaling 3.5M sf and $3.2B of BXP investment; continued strategy to redeploy sale proceeds into higher‑yielding developments.
MX: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