Digital Realty Trust, Inc. (DLR) Earnings Call Transcripts

Digital Realty Trust, Inc.'s Latest Earnings Call - Q2 FY2026

In the second quarter of 2026, Digital Realty Trust, Inc. (DLR:US) reported a core FFO of $2.13 per share, reflecting a 14% year-over-year growth and exceeding expectations. The company raised its full-year guidance for core FFO per share to a range of $8.15 to $8.20, signaling strong operational momentum and a robust backlog of $1.9 billion. Key drivers included record interconnection bookings and significant hyperscale leasing activity, which positions the company for continued double-digit growth into 2027 and beyond.

Reported metrics

Guidance from management

Management raised the 2026 core FFO per share guidance to a range of $8.15 to $8.20, reflecting strong operational performance and a high degree of confidence in future growth.

What management said

Thanks, Jon. I'm going to have Greg hit on to that -- hit on that one. But I mean, I would say, albeit new, very analogous to what we just saw in our expansion in the Charlotte market, which bore fruit very quickly. But Greg, why don't you speak to Kansas City, please?

Thanks, Richard. I'll tag team this with Chris. I mean, really excited about the contribution from interconnection, a record by itself, up 17% year-over-year, north of $20 million. We've just had a great string of quarters now and records in that category. And it's definitely been a combination of what was touched on before about ServiceFabric being a larger contributor where our value is really shining there. I thin...

What analysts pressed on

Analysts expressed concerns regarding the sustainability of high renewal spreads and the potential impact of political activity in key markets on future pricing. There were questions about the company's ability to maintain growth amid rising capital expenditures.

Main topics on the call

• Record Core FFO Growth — Digital Realty achieved a core FFO of $2.13 per share, which is a 14% increase year-over-year. Management stated, "We are raising our 2026 core FFO per share guidance range, implying 10% constant currency growth at the m...
• Strong Backlog and Leasing Activity — The total backlog reached a record $1.9 billion, with $1.4 billion at Digital Realty's share. Management noted, "Strong bookings pushed our total backlog to a new record," indicating a solid foundation for future revenue...
• Record Interconnection Bookings — Interconnection bookings reached a new high of $20.5 million, up 18% year-over-year. This growth was attributed to strong demand in the 0-1 megawatt category, which saw bookings of $108 million, marking a significant mil...
• Hyperscale Leasing Momentum — Management reported the signing of two hyperscale leases post-quarter end, representing $410 million in annualized GAAP base rent. This reflects the ongoing strength in demand for large-scale deployments, particularly in...

Read the full Digital Realty Trust, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 79 Digital Realty Trust, Inc. earnings call transcripts on record, spanning January 7, 2020 to July 23, 2026. Based on this history, Digital Realty Trust, Inc. reports quarterly. The most recent call on file is dated July 23, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

DLR

Exchange

NYSE

Country

US

Sector

Real Estate

Industry

Specialized REITs

Calls on record

79

First call

January 7, 2020

Most recent

July 23, 2026

Reporting cadence

quarterly