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Sep 30, 2022
Digital Realty Q3 2022 Earnings Report
Reported record quarterly bookings, completed acquisition of Teraco, and updated 2022 Core FFO outlook.
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
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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