Digital Realty Q3 2022 Earnings Report
Key Takeaways
Digital Realty reported strong Q3 2022 results, with revenues of $1.2 billion and net income of $239 million. The company also signed record quarterly bookings and completed its acquisition of Teraco.
Reported net income available to common stockholders of $0.75 per share in 3Q22, compared to $0.44 in 3Q21
Reported FFO per share of $1.55 in 3Q22, compared to $1.54 in 3Q21
Reported Core FFO per share of $1.67 in 3Q22, compared to $1.65 in 3Q21
Signed total bookings during 3Q22 expected to generate $176 million of annualized GAAP rental revenue, including a $13 million contribution from interconnection, excluding Teraco
Digital Realty
Digital Realty
Digital Realty Revenue by Segment
Forward Guidance
Digital Realty updated its 2022 Core FFO per share outlook of $6.70-$6.75 and updated its 2022 constant-currency Core FFO per share outlook of $6.95 - $7.00.
Positive Outlook
- Total revenue $4.650 - $4.700 billion
- Net non-cash rent adjustments ($55 - $60 million)
- Adjusted EBITDA $2.450 - $2.475 billion
- G&A $395 - $400 million
- GAAP basis rental rates on renewal leases up low-single-digits
Challenges Ahead
- U.S. Dollar / Pound Sterling $1.10 - $1.15
- U.S. Dollar / Euro $0.95 - $1.00
- CapEx $2.1 - $2.3 billion
- Net income per diluted share $1.45 - $1.50
- Funds From Operations / share (NAREIT-Defined) $6.30 - $6.35