Published
# Equinix (EQIX) Current Events, February to August 2026 ## Filings that contain financial statements Each earnings press release below (Exhibit 99.1 to a Form 8-K, Item 2.02) carries condensed consolidated statements of operations, balance sheets and statements of cash flows, plus non-GAAP reconciliations. - Form 8-K filed July 29, 2026, accession 0001101239-26-000145: second quarter ended June 30, 2026. - Form 8-K filed April 29, 2026, accession 0001101239-26-000089: first quarter ended March 31, 2026. - Form 8-K filed February 11, 2026, accession 0001101239-26-000030: fourth quarter and full year ended December 31, 2025. ## Earnings and guidance **July 29, 2026 (second quarter 2026; accession 0001101239-26-000145).** Equinix reported revenues of $2.625 billion (up 16% year over year), operating income of $665 million, net income attributable to common stockholders of $479 million ($4.83 per diluted share), adjusted EBITDA of $1.396 billion (53% margin) and AFFO of $1.168 billion ($11.78 per share). The release attributes part of the growth to one-time xScale fees. It raised full-year 2026 guidance: | Metric | Prior | Revised | |---|---|---| | Revenues | $10,144 - 10,244 million | $10,205 - 10,285 million | | Adjusted EBITDA | $5,165 - 5,245 million | $5,210 - 5,270 million | | AFFO | $4,198 - 4,278 million | $4,240 - 4,300 million | | AFFO per share | $42.31 - 43.11 | $42.69 - 43.29 | | Non-recurring capital expenditures (excluding xScale and real estate acquisitions) | about $3,800 million | $4,710 - 5,690 million | Total capital expenditures are now expected at $5.0 - 6.0 billion for 2026. Third-quarter 2026 guidance is revenues of $2.525 - 2.575 billion and adjusted EBITDA of $1.275 - 1.315 billion. The release also raised the long-term outlook for 2027 to 2029: | Metric | Prior | Updated | |---|---|---| | Annual revenue growth | 7 - 10% | 10 - 13% | | 2029 adjusted EBITDA margin | 52%+ | 53%+ | | Annual total capital expenditures | $3.0 - 4.0 billion | $5.0 - 7.0 billion | | Annual AFFO per share growth | 5 - 9% | 9 - 12% | Dividend per share growth is now expected to approximate AFFO per share growth, replacing the prior 8%+ outlook. The release cites a record 9,700 net interconnections added in the quarter, $424 million of annualized gross bookings, and 52 expansion projects underway across 33 markets. It also announces the appointment of Chris Audie as Chief Product Officer. **April 29, 2026 (first quarter 2026; accession 0001101239-26-000089).** Revenues were $2.444 billion (up 10%), operating income $577 million, net income attributable to common stockholders $415 million ($4.20 per diluted share), adjusted EBITDA $1.245 billion (51% margin) and AFFO $1.065 billion ($10.79 per share). The release states that first-quarter results exclude the xScale Hampton lease transaction. Full-year 2026 guidance was raised: revenues to $10,144 - 10,244 million, adjusted EBITDA to $5,165 - 5,245 million, AFFO per share to $42.31 - 43.11, and non-recurring capital expenditures to about $3,800 million. **February 11, 2026 (fourth quarter and full year 2025; accession 0001101239-26-000030).** Full-year 2025 revenues were $9.217 billion (up 5%), operating income $1.848 billion, net income attributable to common stockholders $1.350 billion ($13.76 per share), adjusted EBITDA $4.530 billion and AFFO $3.761 billion ($38.33 per share). Initial 2026 guidance was revenues of $10,123 - 10,223 million, adjusted EBITDA of $5,141 - 5,221 million, AFFO of $4,158 - 4,238 million and AFFO per share of $41.93 - 42.74. The quarterly cash dividend was increased 10% to $5.16 per share, the 11th consecutive year of dividend growth. The release states the xScale Hampton lease transaction was expected to close in early 2026 and that the Hampton, Georgia asset was contributed to the U.S. xScale joint venture in January. ## Acquisition **February 26 - 27, 2026: atNorth (signed, not closed as of the latest filing; accession 0001101239-26-000051).** Equinix and Canada Pension Plan Investment Board (CPP Investments) announced a joint agreement to purchase atNorth, a Nordic data center provider, from Partners Group, at a US$4 billion enterprise value. CPP Investments is to hold approximately 60% and Equinix approximately 40%. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be immediately accretive to Equinix AFFO per share on closing. The parties provisionally agreed a US$4.2 billion financing package to fund the transaction and related costs. The quarterly report for the period ended June 30, 2026 (accession 0001101239-26-000147, filed July 29, 2026) describes an equity commitment of up to $963 million for approximately 40% ownership and a commitment to lease a minimum level of capacity from atNorth by December 31, 2029, and still describes the acquisition as subject to closing conditions. No filing in the period reports the closing. ## Debt and financing - **August 6, 2026 (accession 0001104659-26-092009):** Equinix, Inc. issued $850 million of 5.000% Senior Notes due 2029, $650 million of 5.500% Senior Notes due 2033 and $650 million of 5.800% Senior Notes due 2036. Its subsidiary Equinix Europe 2 Financing Corporation LLC issued $850 million of 5.250% Senior Notes due 2031, guaranteed by Equinix, Inc. and swapped to euros through cross-currency swaps. Interest is payable semi-annually from February 15, 2027. - **July 27, 2026, reported July 29, 2026 (accession 0001101239-26-000148):** Equinix entered into a new $5.5 billion senior unsecured multicurrency revolving credit facility maturing July 25, 2031, under a credit agreement with Bank of America, N.A. as administrative agent, and repaid in full and terminated its January 7, 2022 credit agreement. The facility has a $1.5 billion letter-of-credit sublimit, a Swiss franc sublimit equal to $1.0 billion for one subsidiary borrower and a euro sublimit equal to $5.5 billion for another. The opening margin was 77.5 basis points over the benchmark rate, with a facility fee of 7.0 to 20.0 basis points. The financial covenant caps consolidated net funded debt to consolidated adjusted EBITDA at 6.50 to 1.00, temporarily 7.00 to 1.00 after certain material acquisitions. - **May 7, 2026 (accession 0001104659-26-057167):** Equinix Canada Financing Ltd issued C$650 million of 3.950% Senior Notes due 2030 and C$600 million of 4.750% Senior Notes due 2035, guaranteed by Equinix, Inc. - **March 5, 2026 (accession 0001104659-26-024144):** Equinix Asia Financing Corporation Pte. Ltd. issued $700 million of 4.400% Senior Notes due 2031 and Equinix Europe 2 Financing Corporation LLC issued $800 million of 4.700% Senior Notes due 2033, each guaranteed by Equinix, Inc. and each swapped in part or in whole to other currencies through cross-currency swaps. ## Management and governance - **July 14, 2026 (accession 0001101239-26-000131):** Chief Business Officer Jon Lin will separate from the company effective July 18, 2026, with benefits under the Executive Severance Plan. The filing says responsibilities are being distributed across the senior leadership team and that a new Chief Product Officer is expected to be announced. The July 29 earnings release reports the appointment of Chris Audie as Chief Product Officer. - **May 11, 2026 (accession 0001101239-26-000095):** Chief Accounting Officer and Principal Accounting Officer Simon Miller notified the company of his planned retirement effective July 31, 2026. The filing states the retirement is not due to any disagreement over financial statements, internal control or operations. - **May 15, 2026 (accession 0001101239-26-000109):** At the May 13, 2026 annual meeting all 10 directors were re-elected, executive compensation received advisory approval, PricewaterhouseCoopers LLP was ratified as auditor for 2026, and a stockholder proposal to lower the ownership threshold for calling a special meeting was not approved (25,847,167 for; 59,259,964 against). - **March 10, 2026 (accession 0001101239-26-000058):** Olivier Leonetti, previously Chief Financial Officer of Eaton, was appointed Chief Financial Officer effective on his start date, anticipated to be March 16, 2026, succeeding Keith Taylor, who retired from the role and continues as Special Advisor. Initial base salary is $700,000, with a fiscal 2026 equity award valued at $10 million and a sign-on equity award valued at $5 million. - **February 18, 2026 (accession 0001101239-26-000039):** Chief Sales Officer Mike Campbell will retire effective March 31, 2026 and serve as a part-time Special Advisor through March 5, 2027. - **February 12, 2026 (accession 0001101239-26-000035):** The compensation committee adopted an Executive Severance Plan for executives other than the CEO, amended the CEO's severance agreement, and approved the 2026 Global Annual Incentive Plan, under which executive bonuses are payable in fully vested restricted stock units, weighted 50% to revenue and 50% to AFFO per share. ## Not reflected in these filings The filings reviewed do not report the closing of the atNorth acquisition or the closing of any other acquisition during the period. No share repurchase program or stock split is reported in these filings.