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Sep 30, 2021
Digital Realty Q3 2021 Earnings Report
Reported strong third-quarter results, underpinned by global platform, broad product spectrum, and significant scale.
Key Takeaways
Digital Realty reported third-quarter revenues of $1.1 billion, a 4% increase from the previous quarter and an 11% increase from the same quarter last year. Net income was $137 million, and net income available to common stockholders was $124 million, or $0.44 per diluted share. Adjusted EBITDA was $610 million, and core FFO per share was $1.65.
Reported net income available to common stockholders of $0.44 per share in 3Q21, compared to a net loss available to common stockholders of ($0.14) in 3Q20
Reported FFO per share of $1.54 in 3Q21, compared to $1.19 in 3Q20
Reported core FFO per share of $1.65 in 3Q21, compared to $1.54 in 3Q20
Signed total bookings during 3Q21 expected to generate $113 million of annualized GAAP rental revenue, including a $12 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 raised its 2021 core FFO per share outlook from $6.45-$6.50 to $6.50-$6.55.
Positive Outlook
- Total revenue $4.400 - $4.425 billion
- Net non-cash rent adjustments ($20) - ($25) million
- Adjusted EBITDA $2.400 - $2.425 billion
- G&A $380 - $390 million
- Net income per diluted share $2.45 - $2.50
Challenges Ahead
- Rental rates on renewal leases Cash basis Slightly negative
- Rental rates on renewal leases GAAP basis Slightly positive
- Year-end portfolio occupancy 84.0% - 85.0%
- "Same-capital" cash NOI growth (2.5%) - (3.5%)
- Long-term debt issuance Dollar amount $1.8 - $2.0 billion