Equinix, Inc. - EQIX STOCK NEWS

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.

Bronstein, Gewirtz & Grossman, a recognized law firm, has announced a class action lawsuit against Equinix (NASDAQ: EQIX) and some of its officers. The lawsuit claims that between May 3, 2019, and March 24, 2024, the company made false or misleading statements and failed to disclose important information, including financial manipulations and inadequate internal controls. Investors who suffered losses have until July 1, 2024, to request to be lead plaintiffs. The firm is working on a contingency fee basis.

Equinix announced the expansion of its Heat Export program, encouraging municipal planning agencies, energy utilities, and heat network operators to join in leveraging residual heat from its IBX data centers. The initiative, already active in regions like France, Finland, Germany, Ireland, Switzerland, and Canada, aims to provide a sustainable heating solution amidst rising global energy prices. Key projects include the PA10 IBX in Paris, set to heat the Plaine Saulnier urban zone and the Olympic Aquatic Centre, and TR5 in Toronto, supplying heat to multiple residential and commercial buildings. Equinix's sustainability strategy focuses on energy efficiency and renewable energy, aiming for climate neutrality by 2030.

Equinix announced its participation in two upcoming investor conferences.

At the NAREIT REITweek Conference on June 4, CFO Keith Taylor will present at 9:30 a.m. EST.

At the Nasdaq Investor Conference on June 12, SVP Phillip Konieczny and SVP Katrina Rymill will present at 1:30 p.m. BST.

The presentations will be available via webcast on the Equinix Investor Relations website.

Equinix (Nasdaq: EQIX) announced the pricing of a $750 million public offering of 5.500% Senior Notes due 2034. After conversion to EUR, the effective interest rate will be approximately 3.9%. These Notes, issued by wholly-owned subsidiary Equinix Europe 2 Financing , will be unsecured and guaranteed by Equinix. The transaction is expected to close on May 30, 2024. The net proceeds, estimated at $736 million, will fund acquisitions, development, working capital, and refinancing of existing debt. This includes the repayment of $1 billion principal of U.S.-dollar denominated Senior Notes due November 2024. Leading financial institutions such as Barclays, BNP Paribas, BofA Securities, Goldman Sachs, HSBC, and J.P. Morgan are managing the offering.

Equinix (Nasdaq: EQIX) has announced the availability of Dell PowerStore on Equinix Metal, introducing a new enterprise-grade Storage as a Service (STaaS) solution. This service offers flexible configurations to manage high-performance multicloud workloads through low-latency connectivity, enhancing data collection and distribution. It provides scalable storage with a burst capacity of 25% above committed levels, reducing total cost of ownership (TCO) and optimizing resources. Key benefits include global availability, simplified infrastructure management, and robust security with multi-layer data encryption. The service is available in over 30 markets, including Brazil, with an entry point of 25 tebibytes.