"...Given that, it seemed simplest to base the unit on the amount of energy required to convert water to steam at atmospheric pressure, both water and steam at 212°F. In 1884, the Committee on Boiler Tests of the American Society of Mechanical Engineers defined the boiler horsepower as that amount of power that can convert 34.5 pounds of water per hour from feedwater at 212°F to dry, saturated steam at the same temperature."
IE, it is based on a fixed pressure, fixed temperature, and wouldn't necessarily match the flow rates of your boiler at whatever pressure it operates at.