Boston Properties, Inc. (BXP) Q1 2023 Earnings Call Transcript

Boston Properties, Inc. (NYSE:BXP) Q1 2023 Earnings Conference Call April 26, 2023 10:00 AM ET

Company Participants

Helen Han - Vice President, IR

Owen Thomas - Chairman and CEO

Douglas Linde - President

Michael LaBelle - EVP and CFO

Hilary Spann - EVP, New York Region

Peter Otteni - EVP, Co-Head of the Washington, DC

Robert Pester - EVP, San Francisco

Conference Call Participants

Steve Sakwa - Evercore ISI

John Kim - BMO Capital Markets

Camille Bonnel - Bank of America

Anthony Paolone - JPMorgan

Alexander Goldfarb - Piper Sandler

Nick Yulico - Scotiabank

Blaine Heck - Wells Fargo

Caitlin Burrows - Goldman Sachs

Michael Griffin - Citi

Vikram Malhotra - Mizuho

Ronald Kamdem - Morgan Stanley

Dylan Bazinsky - Green Street

Tayo Okusanya - Credit Suisse

Operator

Good day and thank you for standing by. Welcome to the Q1 2023 BXP Earnings Conference Call.

At this time, all participants are in a listen-only mode. After the speaker presentation, there’ll be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.

I’d now like to hand the conference over to your first speaker today, to Helen Han, Vice President of Investor Relations. Please go ahead.

Helen Han

Good morning and welcome to BXP’s first quarter 2023 earnings conference call. The press release and supplemental package were distributed last night and furnished on Form 8-K. In the supplemental package, BXP has reconciled all non-GAAP financial measures to the most directly comparable GAAP measures in accordance with Reg G. If you did not receive a copy, these documents are available in the Investors section of our website at investors.bxp.com. A webcast of this call will be available for 12 months.

At this time, we would like to inform you that certain statements made during this conference call, which are not historical, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Although BXP believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained.

Factors and risks that could cause actual results to differ materially from those expressed or implied by forward-looking statements were detailed in yesterday’s press release and from time to time in BXP’s filings with the SEC. BXP does not undertake a duty to update any forward-looking statements.

I’d like to welcome Owen Thomas, Chairman and Chief Executive Officer; Doug Linde, President; and Mike LaBelle, Chief Financial Officer. During the Q&A portion of our call, Ray Ritchey, Senior Executive Vice President and our Regional Management teams will be available to address any questions. We ask that those of you participating in the Q&A portion of the call to please limit yourself to one question. If you have any additional query or follow-up, please feel free to rejoin the queue.