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Dec 31, 2022
Digital Realty Q4 2022 Earnings Report
Digital Realty's financial performance was marked by a net loss, but revenues increased and leasing activity remained strong.
Key Takeaways
Digital Realty reported a net loss of $6 million, or ($0.02) per diluted share. However, revenues increased 11% year-over-year to $1.2 billion, and total bookings are expected to generate $117 million of annualized GAAP rental revenue.
Reported net loss available to common stockholders of ($0.02) per share.
Reported FFO per share of $1.45.
Reported Core FFO per share of $1.65.
Signed total bookings expected to generate $117 million of annualized GAAP rental revenue.
Revenue by Geographic Location
Forward Guidance
Digital Realty introduced its 2023 Core FFO per share outlook of $6.65-$6.75 and provided its 2023 constant-currency Core FFO per share outlook of $6.65 - $6.75.
Positive Outlook
- Total revenue $5.700 - $5.800 billion
- Adjusted EBITDA $2.675 - $2.725 billion
- Cash basis Rental rates on renewal leases Greater than 3.0%
- GAAP basis Rental rates on renewal leases Greater than 3.0%
- Year-end portfolio occupancy 85.0% - 86.0%
Challenges Ahead
- Net non-cash rent adjustments ($55 - $60 million)
- G&A $425 - $435 million
- U.S. Dollar / Pound Sterling $1.20 - $1.25
- U.S. Dollar / Euro $1.00 - $1.05
- CapEx $2.3 - $2.5 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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