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Mar 31, 2022
Digital Realty Q1 2022 Earnings Report
Reported record bookings and reiterated 2022 core FFO per share outlook.
Key Takeaways
Digital Realty reported first quarter revenues of $1.1 billion, a 1% increase from the previous quarter and a 3% increase from the same quarter last year. Net income was $76.9 million, or $0.22 per diluted share. The company signed total bookings expected to generate $167 million of annualized GAAP rental revenue.
Reported net income available to common stockholders of $0.22 per share in 1Q22, compared to $1.32 in 1Q21
Reported FFO per share of $1.60 in 1Q22, compared to $1.50 in 1Q21
Reported core FFO per share of $1.67 in 1Q22, compared to $1.67 in 1Q21
Signed total bookings during 1Q22 expected to generate $167 million of annualized GAAP rental revenue, including an $11 million contribution from interconnection
Digital Realty
Digital Realty
Digital Realty Revenue by Segment
Digital Realty Revenue by Geographic Location
Revenue by Segment
Interconnection Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.com Forward Guidance
Digital Realty reiterated its 2022 core FFO per share outlook of $6.80-$6.90.
Positive Outlook
- Total revenue: $4.700 - $4.800 billion
- Adjusted EBITDA: $2.475 - $2.525 billion
- G&A: $410 - $420 million
- Year-end portfolio occupancy: 83.0% - 84.0%
- Same-capital cash NOI growth: (2.5% - 3.5%)
Challenges Ahead
- Net non-cash rent adjustments: ($45 - $50 million)
- U.S. Dollar / Pound Sterling: $1.25 - $1.35
- U.S. Dollar / Euro: $1.05 - $1.10
- Dollar volume of Dispositions: $0.5 - $1.0 billion
- Cap rate of Dispositions: 0.0% - 10.0%