Digital Realty Trust, Inc. Q3 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Record 130 new customer logos signed during the quarter, with nearly 60% of bookings outside North America.
  • Core FFO per share beat consensus by $0.05; guidance for revenue, EBITDA, and core FFO per share raised for the second time in 2020.
  • Expanded global footprint with the acquisition of Altus IT in Croatia and strategic land purchases in Europe.
  • Raised more than $2 billion in long-term capital and retired nearly $2 billion in high‑coupon debt and preferred equity.

Business & Operational Highlights

  • Strong diversification of bookings: enterprise co-location and interconnection represented nearly half of total demand.
  • Increased focus on renewable energy: 70% of the Dallas portfolio expected to be powered by renewables by mid‑2021.
  • Progress on Interxion integration ahead of expectations, including over 95% employee retention and early cross‑selling wins.
  • Data Gravity Index launched to help enterprises understand infrastructure challenges tied to growing data volume.

Leasing & Demand Trends

  • Total bookings reached $89 million, with $14 million from interconnection and a strong contribution from enterprise deals under 1 MW.
  • EMEA and Americas each represented ~40% of bookings; Asia‑Pacific contributed ~20%, with Singapore leading the region.

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Operator: Good afternoon and welcome to the Digital Realty Third Quarter 2020 Earnings Call. Please note this event is being recorded. During today’s presentation, all parties will be in a listen-only mode. Following the presentation, we will conduct a question-and-answer session and callers will be limited to one question plus a follow-up. Due to time constraints, we will conclude promptly at the hour. I would now like to turn the call over to John Stewart, Digital Realty’s Senior Vice President of Investor Relations. John, please go ahead. John Stewart: Thank you, Andrea. The speakers on today’s call are CEO, Bill Stein; and CFO, Andy Power. Chief Investment Officer, Greg Wright; Chief Technology Officer, Chris Sharp; and EVP of Sales and Marketing, Corey Dyer are also on the call and will be available for Q&A. Management may make forward-looking statements, including guidance and underlying assumptions. Forward-looking statements are based on expectations that involve risks and uncertainties that could cause actual results to differ materially. For a further discussion of risks related to our business, see our 10-K and subsequent filings with the SEC. This call will contain non-GAAP financial information. Reconciliations to net income are included in the supplemental package furnished to the SEC and available on our website. Before I turn the call over to Bill, I would like to hit the tops of the waves on our third quarter results. We built upon the recent momentum in our

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