Digital Realty Trust, Inc. (NYSE:DLR) Q3 2024 Earnings Conference Call October 24, 2024 5:00 PM ET
Company Participants
Jordan Sadler - SVP, Public & Private IR
Andrew Power - President & CEO
Matthew Mercier - CFO
Colin McLean - Chief Revenue Officer
Christopher Sharp - Chief Technology Officer
Gregory Wright - Chief Investment Officer
Conference Call Participants
Michael Rollins - Citi
Jonathan Petersen - Jefferies
Jonathan Atkin - RBC
Richard Choe - JPMorgan
Eric Luebchow - Wells Fargo
Frank Louthan - Raymond James
Irvin Liu - Evercore ISI
James Schneider - Goldman Sachs
Michael Elias - TD Cowen
Georgi Dinkov - Mizuho
Matthew Niknam - Deutsche Bank
David Guarino - Green Street
Nicholas Del Deo - MoffettNathanson
Operator
Good afternoon, and welcome to the Digital Realty Third Quarter 2024 Earnings Conference Call. Please note, this event is being recorded. During today’s presentation, all parties will be in listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions]
I would now like to turn the call over to Jordan Sadler, Digital Realty's Senior Vice President of Public and Private Investor Relations. Jordan, please go ahead.
Jordan Sadler
Thank you, operator, and welcome, everyone to Digital Realty's third quarter 2024 earnings conference call. Joining me on today's call are President and CEO, Andy Power; and CFO, Matt Mercier; Chief Investment Officer, Greg Wright; and Chief Technology Officer, Chris Sharp; and Chief Revenue Officer, Colin McLean are also on the call and will be available for Q&A.
Management will be making forward-looking statements, including guidance and underlying assumptions on today's call. 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.
Before I turn the call over to Andy, let me offer a few key takeaways from our third quarter. First, new leasing volume of $521 million at our share, shattered our prior record and even our own expectations for the realm of possibility in a quarter. In fact, 3Q leasing was more than a full year's growth by previous standards as activity in the quarter exceeded the leasing completed in all of 2023, pushing our backlog of signed, but not commenced leases up to nearly $860 million. While greater than 1 megawatt leasing was the primary driver over 0 megawatt to 1 megawatt plus interconnection segment also posted record bookings in the quarter.