Want to see EQIX full AI Analyst Report?
Earnings Data
Report Date
Jul 29, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
4.67Last Year’s EPS
3.75Same Quarter Last Year
Strong Buy
Based on 24 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented broad and material operational and financial progress: double-digit recurring revenue growth, margin expansion, record sales activity and bookings, strong Fabric and interconnection momentum, notable customer wins (including AI and liquid-cooling use cases), and raised guidance. Risks noted include timing uncertainty on a large ExScale lease, power and capacity constraints as workloads densify, regional RFP impacts, and a highly capital-intensive expansion plan. Overall, positive execution and strong demand dominate the narrative, with manageable near-term timing and execution risks.Company Guidance
Recurring and Total Revenue Growth
Recurring revenues of $2.3B, up 10% year-over-year (normalized, constant currency). Total revenues of $2.4B, up 8% year-over-year.
Adjusted EBITDA and Margin Expansion
Adjusted EBITDA of $1.2B, up 13% year-over-year, with an adjusted EBITDA margin of 51% (improvement of ~190 basis points quarter-over-quarter and ~300 basis points year-over-year).
Record AFFO and AFFO per Share
Quarterly AFFO surpassed $1.0B for the first time, up 11% year-over-year; AFFO per share was $10.79, up 10% year-over-year.
Record Sales Activity and Bookings Momentum
Largest quarter of total sales activity on record (management cited a 35% year-over-year increase), annualized growth bookings of $378M (up 9% year-over-year) plus ~$140M of pre-selling activity and a record backlog.
Interconnection and Fabric Strength
Total interconnection revenue up 9% year-over-year; Fabric revenue up 26% year-over-year and Fabric bookings up roughly 70% year-over-year. Physical and virtual net interconnections increased by 5.8K.
Customer and Ecosystem Wins
Notable customer wins and use cases: Qubit Pharmaceuticals (GPU cluster reduced experimental cycles by 20x and lowered costs by ~5x), Gammon Construction, Options IT, and Maersk (first liquid-cooled AI deployment in Frankfurt). Eight of top 10 AI model providers and four of top five neo clouds have deployed ~110 separate network nodes with Equinix.
MRR and Cabinet Metrics
MRR per cabinet increased to $2,524, up 7% year-over-year. Added 4.1K net cabinets billing and backlog of cabinets sold but not yet installed at a record level.
Capital Allocation, Returns and Balance Sheet
Q1 capital expenditures were about $1.3B (≈90% growth/expansion). Company expects total 2026 CapEx around $4.1B (top end of prior range) with targeted mid-20% unlevered cash-on-cash returns; stabilized pool (192 assets) generated a 26% cash-on-cash return and is 82% utilized. Cash & short-term investments ≈ $3.1B; net leverage ~3.8x annualized adjusted EBITDA; issued $1.5B senior notes at blended 3.1%.
Raised Guidance
Management raised full-year guidance: total revenue growth range improved by 100 basis points to 10%–11% (up $21M), adjusted EBITDA guidance up $24M (margins ~51%), AFFO guidance up ~$40M (AFFO growth range 10%–12%), AFFO per share growth range raised to 9%–11%. Q2 MRR growth guidance 10%–11% year-over-year.
Product Innovation and Ecosystem Positioning
Introduced Distributed AI Hub and Fabric Intelligence to address AI infrastructure fragmentation and network complexity. Large-capacity Fabric connections have tripled year-over-year; portal adoption increased with 20k orders (up 12% year-over-year), driving self-service efficiencies.
EQIX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
EQIX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $1083.71 | $1077.50 | -0.57% |
Feb 11, 2026 | $858.57 | $947.99 | +10.41% |
Oct 29, 2025 | $784.75 | $819.60 | +4.44% |
Jul 30, 2025 | $779.32 | $767.71 | -1.49% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Equinix (EQIX) report earnings?
Equinix (EQIX) is schdueled to report earning on Jul 29, 2026, After Close (Confirmed).
What is Equinix (EQIX) earnings time?
Equinix (EQIX) earnings time is at Jul 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EQIX EPS forecast?
EQIX EPS forecast for the fiscal quarter 2026 (Q2) is 4.67.