Adaire Fox-Martin, Equinix CEO, joins CNBC's 'The Exchange' to discuss building out AI infrastructure, partnerships with hyperscalers, and more.
Equinix, Inc. (NASDAQ:EQIX ) Q3 2024 Earnings Conference Call October 30, 2024 5:30 PM ET Company Participants Chip Newcom - Senior Director of IR Adaire Fox-Martin - CEO and President Keith Taylor - CFO Conference Call Participants Ari Klein - BMO Capital Markets Simon Flannery - Morgan Stanley Jonathan Atkin - RBC James Schneider - Goldman Sachs David Barden - Bank of America Timothy Horan - Oppenheimer Operator Good afternoon and welcome to the Equinix Third Quarter Earnings conference call. All lines will be able to listen only until we open for questions.
Although the revenue and EPS for Equinix (EQIX) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Equinix forecast fourth-quarter revenue above Wall Street estimates on Wednesday, driven by steady demand for its data center services amid the continuing surge in artificial intelligence boom.
Equinix (EQIX) came out with quarterly funds from operations (FFO) of $9.05 per share, beating the Zacks Consensus Estimate of $8.70 per share. This compares to FFO of $8.19 per share a year ago.
EQIX's Q3 earnings are likely to have gained from the growing demand for data centers with increasing digitization, though high interest rates might have hurt.
Equinix, a leading data center REIT, shows consistent growth and strong fundamentals. Our unique methodology provides a powerful strategy for identifying favorable risk-reward setups in stocks like EQIX. Accurate analysis in charts such as EQIX requires detailed work to avoid guesswork and ensure reliable market direction predictions.
Beyond analysts' top -and-bottom-line estimates for Equinix (EQIX), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2024.
In a world where diversification is preached, REITs offer a unique take. Instead of a basket of many REITs, hand-picking particular REITs from each sector is optimal. Equinix is an ideal buy due to its immense global reach, flexible balance sheets, and initiatives enhancing portfolio occupancy and energy efficiency. A precedent transactions analysis and a discounted cash flow analysis gives me a weighted par value of $884.67, a 0.9% upside from Equinix's share price at the time.
Equinix has raised $15 billion in funding to expand its xScale data centers for AI, particularly for investments in the U.S.
Data center firm Equinix is forming a joint venture with Singapore's sovereign wealth fund GIC and Canada Pension Plan Investment Board with goals to raise more than $15 billion in capital, the company said on Tuesday.
All three of these REITs have solid upside.