)
)
Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
BXP
BXP (BXP) investor relations material
BXP Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary28 Oct, 2026
Executive summary
Q3 diluted FFO was $1.89 per share, $0.08 above guidance; 2026 FFO guidance rose to $7.06–$7.08 per share, with midpoint growth of 3.2%.
In-service occupancy rose to 89.4% from 88.4% QoQ; strategy execution advanced through asset sales and continued development progress.
Q3 revenue was $911.4 million, attributable net income was $114.5 million, diluted EPS was $0.71, and FAD was $163.4 million; each increased QoQ.
Financial highlights
Q3 FFO was $302.2 million, or $1.89 per share, versus $283.4 million, or $1.78 per share, QoQ; stronger operating performance contributed $0.10 per share to the guidance beat.
FY 2026 diluted EPS guidance is $2.35–$2.37 and diluted FFO per share guidance is $7.06–$7.08.
Same-property NOI growth guidance rose 35 bps to 2.35%–2.75%; Q3 same-property NOI excluding termination income increased 3.4% YoY, while cash NOI declined 0.3%.
Leasing spreads were up 6.55% gross and 9.33% net; Q3 FAD was $163.4 million, distributions were $124.4 million, and the FAD payout ratio was 76.11%.
Outlook and guidance
Year-end 2026 occupancy is expected near 90%; guidance assumes average in-service occupancy of 88.75%–89.25% and cash NOI change of -0.25% to 0.25%.
Same-property NOI and cash FFO are expected to grow more strongly in 2027, with occupancy gains, rent improvements, development contributions and free-rent burn-off offset by refinancing, lower capitalized interest and disposition dilution.
2027 disposition-related dilution is estimated at $0.08 per share, plus $0.06 if Times Square Tower sells in Q1; 2028 growth could accelerate as sale dilution and refinancing exposure decline.
2026 termination income is expected near $24 million versus a historical average near $15 million; 2027 termination income is expected to normalize.
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from BXP
- Robust leasing, rising rents, and strategic asset sales drive growth amid refinancing headwinds.BXP
BofA NY Global Real Estate Conference 2026 - FFO and occupancy guidance raised as strong leasing, asset sales, and liquidity drive growth.BXPQ2 2026
- Leasing, rents, and development are surging, driven by demand for premier space and AI sector growth.BXPNareit REITweek: 2026 Investor Conference
- Leasing and development thrive as AI boosts demand and internal efficiencies rise.BXPCiti’s Miami Global Property CEO Conference 2026
- Q1 2026 net income rose 66% as leasing, FFO, and asset sales drove guidance and occupancy gains.BXPQ1 2026
- Premier urban focus, asset sales, and occupancy growth drive FFO and investment capacity.BXPInvestor Day 2025
- Q3 saw strong leasing, higher net income, stable occupancy, and robust development pipeline.BXPQ3 2024
- Q1 2025 net income was $61.2M, FFO per share $1.64–$1.65, and leasing surged 25% YoY.BXPQ1 2025
- Leasing surged 35% in 2024, with strong liquidity and stable 2025 FFO guidance.BXPQ4 2024
Next BXP earnings date
Q4 202627 Jan, 2027
BXP
Next BXP earnings date
Q4 202627 Jan, 2027
AI chat
Ask anything. Verify everything.
Ask across every event and document from public companies. Each answer links back to the exact line in the transcript, slide or filing it came from.Learn moreFind what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.)
Trust every finding
50m+ first-party documents. Every output traceable to its source.Find what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.Trust every finding
50m+ first-party documents. Every output traceable to its source.Automations
Zero in on what matters
Define the prompt once. It runs the moment a company publishes or on a schedule you set. Outputs map to the exact signals you choose.Learn more)
Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.)
Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Live audio & transcripts
Be first
Join any earnings call live in one click, with no manual registration. Follow the transcript as it happens and jump straight to the moments that matter.Learn more)
Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.)
Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Quartr MCP connects your AI environment to 17K+ public companies
Pull live transcripts, filings, and slides into Claude or Codex via MCP. Combine Quartr's global IR data with any other dataset. Run agentic research and monitoring.
Included with Quartr Pro at no extra cost.Learn more
Quartr's AI stands out because it only pulls clean, first-party data from public companies. In investing, that's everything.
Jamie Ross
Investment Manager, GAM Investments
GAM
GAM
Research that used to take hours now takes seconds with Quartr Pro. Tracking shifts in tone or extracting tables, it's as simple as typing a query.
Tom O'Hara
Investment Director
Ciena
Ciena
Before Quartr we spent hours manually compiling insights through the peer earnings cycle. Now, these tasks are done faster, with greater precision.
Gregg Lampf
VP of Investor Relations
Protean
Protean
Being able to ask specific questions across years of transcripts and reports and instantly get verified answers is a game-changer.
Pontus Dackmo
CEO & Investment Manager
)
)
Frequently asked questions
Premier Workspaces
Boston Properties, Inc. is an American company operating as a Real Estate Investment Trust. The company develops, owns, and invests in workspaces in larger US metropolitan areas, including Boston, Los Angeles, NYC, San Francisco, and other locations. Boston Properties primarily develops and invests in premier locations, including skyscrapers and high-profile office buildings in the central parts of cities. The company headquarters is located, unsurprisingly, in Boston, Massachusetts and its shares are listed on the NYSE.
Background
Boston Properties, Inc. traces its origins back to 1970 when it was co-founded by Mortimer Zuckerman and Edward Linde. Over the past five decades, this American real estate investment trust (REIT) has carved out a distinct niche in the commercial real estate sector, predominantly concentrating on office properties. From its inception, Boston Properties adopted a strategy of not just owning but also developing and managing its array of properties. Today, it's one of the largest companies of its kind in the US, with a list of peers that include names such as Vornado, Brookfield, and Kilroy.
The Properties
Boston Properties, Inc. specializes in the ownership and management of office properties, primarily located in key urban areas in the United States. These locations are selected based on their economic vitality, centrality, and connectivity. The company's properties are often situated in central business districts or in close proximity to major transportation hubs, facilitating accessibility for tenants and their clientele. Over the years, Boston Properties has built a reputation for selecting locations that align with the needs of businesses, including those in the technology, legal, financial, and professional services sectors. The locations they choose often offer a mix of commercial vibrancy, infrastructural support, and growth potential, ensuring they remain appealing to potential tenants.
Operating as a REIT
A Real Estate Investment Trust (REIT) is a company that owns, operates, or finances income-generating real estate across a range of property sectors. Established by U.S. Congress in 1960, REITs provide a way for individual investors to earn dividends from real estate investments, without having to buy, manage, or finance any properties themselves. Structurally, REITs distribute at least 90% of their taxable income to shareholders annually in the form of dividends. In return, they are generally exempt from corporate income taxes on the income distributed.