With it’s REIT conversion still a long road ahead, eqix posted its usual solid quarterly report today. The fourth quarter posed them no new problems, as they outperformed guidance and analyst estimates on all fronts after divesting their non-core markets to 365Main last quarter. Here’s a quick table of their results and forward guidance in context:
| $ in millionsfor continuing operations | Q2/12 | Q3/12 | Q4/12 | Q1/12 (guidance) |
FY/13 (guidance) |
|---|---|---|---|---|---|
| – Recurring | 433.8 | 462.8 | 481.7 | ||
| – Non-recurring | 23.5 | 25.9 | 24.8 | ||
| Revenues | 457.2 | 488.7 | 506.5 | 518-522 | >2200 |
| Cash COS | 142.0 | 158.0 | 159.0 | ||
| Cash SG&A | 97.8 | 102.4 | 108.3 | 116-120 | 490-510 |
| Adjusted EBITDA | 217.5 | 228.3 | 239.3 | 236-240 | >1010 |
| Earnings Per Share | 0.73 | 0.58 | 0.68 | ||
| Ongoing Capex | 37.5 | 37.6 | 43.5 | ~40 | 165 |
| Expansion Capex | 158.9 | 174.5 | 166.9 | 100-120 | 385-485 |
Revenues were slightly higher than expected in Q4, while Q1 guidance was a hair off in the other direction. But EBITDA was well above guidance, and earnings per share from continuing operations beat by $0.06. Full year guidance for 2013 was reiterated.
Equinix didn’t announce any new expansion plans, but I’m sure a few will come up as the year goes on. They spent a fair amount of effort expanding its Asian presence in 2012, while pruning its footprint in the US a bit to focus on the larger markets. That seems like a trend with a few years of momentum left yet.
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Categories: Datacenter · Financials
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Jim Schwartz on Metro Bytes: LSC, FiberLight, RightFiber, Ezee Fiber, LOGIX: “Hey Rob, thanks for the mention about our expansion into Michigan. We appreciate it.” Feb 25, 08:52
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