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Equinix
🇺🇸 NASDAQ:EQIX
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•
Dec 31, 2022

Equinix Q4 2022 Earnings Report

Reported exceeding $7 billion in revenue with an 80th consecutive quarter of revenue growth.

Key Takeaways

Equinix reported strong Q4 2022 results, with revenues reaching $1.871 billion, a 9% increase year-over-year. The company's performance was driven by the increasing demand for comprehensive digital infrastructure solutions and its global platform and interconnected ecosystems.

2022 annual revenues increased 9% year-over-year on an as-reported basis and 11% on a normalized and constant currency basis to $7.3 billion

Delivered seventh consecutive quarter of record channel bookings, accounting for nearly 40% of total bookings and approximately 60% of new logos

Closed over 17,000 deals across more than 6,000 customers in 2022

Increases quarterly cash dividend by 10% to $3.41 per share on its common stock due to strong operating performance

Total Revenue
$1.87B
Previous year: $1.71B
+9.6%
EPS
$7.09
Previous year: $6.22
+14.0%
Adjusted FFO
$658M
Funds From Operations
$407M
Gross Profit
$900M
Previous year: $796M
+13.1%
Cash and Equivalents
$1.91B
Previous year: $1.54B
+24.1%
Free Cash Flow
-$276M
Total Assets
$30.3B
Previous year: $27.9B
+8.6%

Equinix

Equinix

Equinix Revenue by Segment

Equinix Revenue by Geographic Location

Forward Guidance

For the first quarter of 2023, Equinix expects revenues to range between $1.965 and $1.995 billion, an increase of 5 - 7% over the previous quarter, or a normalized and constant currency increase of 5 - 6%. Adjusted EBITDA is expected to range between $891 and $921 million.

Positive Outlook

  • Revenues are expected to range between $1.965 and $1.995 billion, an increase of 5 - 7% over the previous quarter.
  • A normalized and constant currency increase of 5 - 6% is expected.
  • Adjusted EBITDA is expected to range between $891 and $921 million.
  • Guidance includes power price increases in EMEA.
  • Recurring capital expenditures are expected to range between $18 and $28 million.

Challenges Ahead

  • Guidance includes a negative foreign currency impact of $24 million when compared to the average FX rates in Q4 2022.
  • Adjusted EBITDA includes a negative foreign currency impact of $9 million when compared to the average FX rates in Q4 2022.
  • Adjusted EBITDA includes increased seasonal salary and benefit costs of $17 million attributed to the FICA reset.
  • Adjusted EBITDA includes $6 million of integration costs related to acquisitions.
  • Non-recurring capital expenditures, including xScale®-related costs, are expected to range between $2.511 and $2.741 billion.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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