Key Highlights

  • BXP (NYSE:BXP), the largest listed office landlord in the United States, is scheduled to report third-quarter 2026 results after the close on Tuesday, October 27, 2026.
  • BXP (NYSE:BXP) guided in July to third-quarter funds from operations of USD 1.80 to USD 1.82 per share, and the table consensus of USD 0.52 earnings per share is a different measure.
  • Second-quarter funds from operations were USD 1.78 per share against a consensus of USD 1.71, with revenue of USD 895.7 million and total occupancy up 100 basis points to 88.4%.
  • Full-year 2026 funds from operations guidance was raised by USD 0.05 at the midpoint to USD 6.99 to USD 7.05 per share, above a consensus of USD 6.96 at the time.

The Setup and the Guidance

BXP (NYSE:BXP), a real estate investment trust that owns and manages office buildings in Boston, New York, San Francisco, Washington and Los Angeles, is scheduled to report third-quarter 2026 results after the close on Tuesday, October 27, 2026. The table consensus is earnings of USD 0.52 per share, but the metric investors follow is funds from operations, which adds back depreciation to net income. In its release of Tuesday, July 28, 2026, the company reported second-quarter funds from operations of USD 1.78 per share, above a consensus of USD 1.71, on revenue of USD 895.7 million. It guided to USD 1.80 to USD 1.82 for the third quarter, and consensus then sat at the top of that range at USD 1.82. Results cannot be known in advance.

Why Leasing and Occupancy Drive the Quarter

BXP (NYSE:BXP) earns rent under long leases, so occupancy and the pace of new leasing set the path of earnings. Second-quarter total occupancy rose 100 basis points from the first quarter to 88.4%, and the central business district portfolio was 90.7% occupied. The company signed 106 leases covering about 1.8 million square feet with a weighted average term of 9.9 years, about 129% of the 10-year second-quarter average. Same-property net operating income rose 3.5% to USD 486.81 million, excluding termination income. About 1.3 million square feet of leases are due to start, with about 85% expected before the end of 2026. The shares traded about 5% higher in early trading after the July report.

Risks and What to Watch

A positive reading for BXP (NYSE:BXP) would be funds from operations at or above USD 1.82, occupancy above 88.4% and another raise to the full-year range of USD 6.99 to USD 7.05. A negative reading would be third-quarter funds from operations below USD 1.80, a stall in leasing or a rise in tenant concessions, which could reverse part of the July gain. Interest rates are a distinct risk: the Federal Reserve raised its target range to 3.75% to 4.00% on Wednesday, September 16, 2026, which raises the cost of refinancing debt and pressures real estate valuations. Investors should watch same-property income, lease commencements and the Federal Reserve decision on Wednesday, October 28, 2026.

Where Things Stand

The answer is that BXP (NYSE:BXP) is likely to be judged on funds from operations against its own USD 1.80 to USD 1.82 range and on occupancy, rather than on the USD 0.52 earnings consensus. With consensus already at the top of the range in July, a result at the high end is the baseline. The next catalysts are the release after the close on Tuesday, October 27, 2026, the trading session on Wednesday, October 28 and the Federal Reserve decision the same day. Guidance and consensus figures are estimates, not guarantees, and this is not investment advice.