Boston Properties Increases 2019 Outlook - Quick Facts

(RTTNews) - Boston Properties, Inc. (BXP) increased its full year 2019 EPS guidance by approximately $0.36 per share at the mid-point and increased its full year 2019 FFO guidance by approximately $0.06 per share at the mid-point compared to guidance provided on April 30, 2019. Projected EPS is $3.32 - $3.38, revised from $2.95 - $3.02 per share. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.98. Analysts' estimates typically exclude special items. Projected guidance range for FFO per share is $7.02 - $7.08, revised from $6.95 - $7.02.

The company provided guidance for the third quarter with projected EPS of $0.81 - $0.83 and projected FFO of $1.75 - $1.77. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.75.

For the second-quarter, net income attributable to common shareholders increased 28% to $164.3 million, or $1.06 per diluted share, compared to $128.7 million, or $0.83 per diluted share, a year ago. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.75, for the quarter. FFO increased 13% to $276.3 million, or $1.78 per share, from $244.4 million, or $1.58 per share, last year.

Second-quarter total revenue increased more than 10% to $733.7 million compared to $664.5 million, previous year. Analysts expected revenue of $728.31 million for the quarter.