Equinix Inc Stock Price, News & Analysis

Equinix has announced a joint venture agreement with GIC and CPP Investments to raise over $15 billion in capital for expanding its xScale data center portfolio in the U.S. This expansion is driven by increasing AI and cloud growth. The JV aims to nearly triple the investment capital of Equinix's xScale program, with plans to build new facilities on multiple 100+ megawatt campuses, adding more than 1.5 gigawatts of new capacity for hyperscale customers.

Under the agreement, CPP Investments and GIC will each control a 37.5% equity interest, while Equinix will own 25%. The JV is expected to close in Q4 2024, subject to regulatory approvals. This expansion will complement Equinix's existing global presence, which includes 72 global metros and an ecosystem of over 10,000 customers.

Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company, has announced that Keith Taylor, Chief Financial Officer, will be presenting at the RBC Capital Markets Global Communications Infrastructure Conference. The presentation is scheduled for Wednesday, September 25, at 11:30 a.m. CT.

Investors and interested parties can access the presentation via a webcast on the Investor Relations section of the Equinix website at www.equinix.com/investors. This event provides an opportunity for Equinix to share insights and updates with the investment community regarding its digital infrastructure business and financial performance.

Equinix has issued more than $750 million in green bonds across two completed offerings, bringing its total green bond issuance to approximately $5.6 billion. This makes Equinix one of the top 10 largest U.S. corporate issuers in the investment-grade green bond market.

The company issued €600 million in 3.65% senior green notes due 2033 and Swiss Franc 100 million in 1.5575% senior green notes due 2029. These bonds will fund Eligible Green Projects, including green building development, renewable energy innovations, energy efficiency, resource conservation, and decarbonization solutions.

Equinix's sustainability efforts have led to 96% renewable energy coverage across its portfolio in 2023 and an 8%+ improvement in power usage effectiveness compared to the previous year. The company has also been recognized on the CDP's Climate Change A List for two consecutive years.

Equinix (Nasdaq: EQIX), the global digital infrastructure leader, has announced its participation in two major investor conferences in September 2024. CEO and President Adaire Fox-Martin will represent the company at both events:

1. Citi's 2024 Global Technology, Media and Telecom Conference on September 4, with a presentation at 3:00 p.m. ET.

2. Bank of America's 2024 Media, Communications and Entertainment Conference on September 5, presenting at 2:00 p.m. ET.

Investors and interested parties can access the presentations via webcast on the Investor Relations section of the Equinix website at www.equinix.com/investors. These conferences provide Equinix with a platform to showcase its digital infrastructure strategies and engage with potential investors.

Equinix (Nasdaq: EQIX), the global digital infrastructure leader, has announced that Jon Lin, Executive VP and GM of Data Center Services, will present at TD Cowen's 10th Annual Communications Infrastructure Summit. The event is scheduled for Tuesday, August 13, at 11:15 a.m. MT.

Investors and interested parties can access the presentation via a webcast on the Investor Relations section of the Equinix website at www.equinix.com/investors. This presentation offers an opportunity for stakeholders to gain insights into Equinix's strategies and market position in the digital infrastructure sector.

Equinix (Nasdaq: EQIX), the world's digital infrastructure company, has announced a quarterly cash dividend of $4.26 per share on its common stock. The dividend will be paid on September 18, 2024, to shareholders of record on August 21, 2024. This declaration demonstrates Equinix's commitment to returning value to its shareholders.

Equinix provides a trusted platform for digital leaders to interconnect foundational infrastructure, enabling organizations to scale, launch digital services, and enhance their value while supporting sustainability goals.

Equinix reported its Q2 2024 results, showing strong financial growth. Revenues increased 7% YoY to $2.2 billion, with a 2% rise QoQ despite a $6 million negative currency impact. Net income surged 45% YoY to $301 million, and adjusted EBITDA reached over $1 billion for the first time, marking a 4% QoQ increase. The company closed its first multi-hundred-megawatt xScale campus in Atlanta and continues to expand its xScale portfolio to support cloud and AI training workloads.

Operating income climbed 20% QoQ to $436 million, influenced by a gain from the sale of the Silicon Valley 12 xScale asset. Earnings per share (EPS) rose 30% QoQ to $3.16. Adjusted EBITDA margin stood at 48%, and AFFO per share increased by 4% QoQ to $9.22.

2024 annual guidance predicts revenue between $8.692 billion and $8.772 billion, up 6-7% YoY. Adjusted EBITDA is expected to be between $4.066 billion and $4.126 billion, with an AFFO forecast of $3.310 billion to $3.370 billion, translating to $34.67 to $35.30 per share.

Equinix (Nasdaq: EQIX) has announced its planned entry into the Philippines with the acquisition of three data centers from Total Information Management (TIM). This strategic move aims to expand Equinix's digital infrastructure platform and capitalize on the fast-growing Southeast Asian market. The all-cash transaction, valued at approximately 15x projected EBITDA at full utilization, is expected to close in 2H 2024.

The acquisition will provide Equinix with capacity to address digital needs of businesses in the Philippines, offering access to Platform Equinix® for secure data exchange within a global ecosystem. The Philippines' digital economy is projected to reach $35 billion by 2025, growing at a 20% CAGR. This expansion aligns with Equinix's vision to extend its leadership in the Asia-Pacific region and accelerate digital economy growth.

Equinix (Nasdaq: EQIX), a leading digital infrastructure company, has scheduled its second-quarter 2024 conference call for August 7, 2024, at 5:30 p.m. ET. During this call, the company will present its financial results for the quarter ending June 30, 2024. Stakeholders can access the call by dialing 1-517-308-9482 and using the passcode EQIX, or via a live webcast on the Equinix website under the Investor Relations section. A replay will also be available until September 30, 2024, by dialing 866-407-9261 and entering passcode 2024. The webcast replay will remain accessible on the company's website.