Digital Realty Trust Inc. (NYSE:DLR) Q4 2019 Earnings Conference Call - Final Transcript

Feb 13, 2020 • 05:30 pm ET

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Digital Realty Trust Inc. (NYSE:DLR) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon, and welcome to the the Digital Realty Fourth Quarter 2019 Earnings Call. Please note, this even is being recorded. During today's presentation, all parties will be a in a listen-only mode. Following the presentation, we will conduct a question-and-answer session and callers will be limited to one question plus one follow-up. Due to time constraints, we will conclude promptly at the hour.

I would now like to turn the call over to John Stewart, Digital Realty's Senior Vice President of Investor Relations. Please go ahead.

Executive
John Stewart

Thank you, Sean. The speakers on today's call are CEO, Bill Stein; and SVP Finance, Matt Mercier; CIO, Greg Wright; CTO, Chris Sharp; and Corey Dyer, EVP Sales and Marketing are also on the call and will be available for Q&A.

Management may make forward-looking statements, including guidance and the underlying assumptions. Forward-looking statements are based on expectations that involve risks and uncertainties that could cause actual results to differ materially. For a further discussion of risks related to our business, see our 10-K and subsequent filings with the SEC. This call will contain non-GAAP financial information. Reconciliations to net income are included in the supplemental package furnished to the SEC and available on our website. Investors are encouraged to read the proxy statement and prospectus with respect to the proposed transaction between Digital Realty and Interxion and other relevant documents filed with the SEC because they contain important information. You may obtain a free copy of these documents from the SEC's website at sec.gov or from the websites, Investor Relations department of either Digital Realty or Interxion.

Before I turn the call over to our CEO, Bill Stein, I'd like to hit the tops of the waves on our fourth quarter results. We extended our global footprint, reaching agreements to a combine with Interxion and to enter India. We enhanced our portfolio quality, recycling capital from fully stabilized assets into network dense interconnection hubs. We launched platform digital, a unique global data center platform designed to enable customers to scale digital business. We advanced our sustainability initiatives with incremental renewable energy agreements and several industry awards. Last but not least, we've further strengthened the balance sheet, locking in long-term debt and preferred equity capital at record low coupons.

With that, I'd like to turn the call over to Bill.

Executive
A. William Stein

Good afternoon, and thank you all for joining us. Our formula for long-term value creation is a global, connected, sustainable framework. We advanced each of these three pillars in 2019, culminating with the addition of a new member to the Digital family and we'd like to congratulate our friend and partner Andy Power along with his wife Sarah on the arrival of their baby girl Power Madison Elizabeth earlier this week.

We continued to expand our global footprint. The highlight was, of course, our entry into a definitive agreement to combine with Interxion in a highly strategic and complementary transaction that will create a leading global provider of cloud and carrier-neutral data center solutions.