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Iron Mountain Inc. (IRM)
NYSE:IRM
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.53Last Year’s EPS
$0.52Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -11.00%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance with record-breaking revenue, significant growth in digital solutions, and expansion in asset life cycle management and data centers. However, currency headwinds and sequential revenue growth challenges in the data center segment were noted.Company Guidance
During the Iron Mountain Q3 2024 earnings call, the company reported record financial metrics, including a quarterly revenue of $1.6 billion, marking a 12% year-over-year increase. Adjusted EBITDA rose by 14% to $568 million, while AFFO per share increased by 10% to $1.12. The company's strong performance was driven by double-digit growth in both storage and service revenues, with storage revenue reaching $936 million and service revenue hitting $622 million. Iron Mountain's digital solutions and data center businesses also demonstrated robust growth, contributing to an organic service revenue growth of 10%, the highest in two years. The company's strategic acquisitions and expansions, such as the acquisition of Wisetek and the expansion of its data center capacity to over 1.1 gigawatts, are expected to sustain its growth trajectory. Iron Mountain is on track to achieve the high end of its full-year guidance, projecting Q4 revenue of approximately $1.6 billion, adjusted EBITDA of $595 million, and AFFO per share of $1.21.Record-Breaking Revenue and Growth
Iron Mountain achieved its highest-ever quarterly revenue of $1.6 billion, up 12% from the prior year. Adjusted EBITDA reached a record $568 million, up 14%, and AFFO per share on a normalized basis was $1.12, up 10% compared to the prior year.
Strong Performance in Digital Solutions
The launch of the InSight Digital Experience (DXP) resulted in 24 recurring revenue deals, showcasing strong demand for Iron Mountain's digital solutions.
Growth in Asset Life Cycle Management (ALM)
ALM revenue increased by 145% year-on-year, demonstrating strong organic growth driven by data center decommissioning and expansion in the enterprise business.
Data Center Business Expansion
Iron Mountain signed 9 megawatts of new leases in the quarter, with a total of 106 megawatts year-to-date, and acquired a development site in Richmond, Virginia, to expand capacity.
Improved Cash Cycle
The company achieved the best performance in its cash cycle in over a decade, with significant improvements in days sales outstanding and days payable.
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IRM 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
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IRM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $125.73 | $114.44 | -8.98% |
| Aug 01, 2024 | $101.93 | $108.87 | +6.81% |
| May 02, 2024 | $77.05 | $75.96 | -1.41% |
| Feb 22, 2024 | $67.06 | $70.55 | +5.20% |
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.
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FAQ
When does Iron Mountain Inc. (IRM) report earnings?
Iron Mountain Inc. (IRM) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Iron Mountain Inc. (IRM) earnings time?
Iron Mountain Inc. (IRM) earnings time is at Feb 20, 2025, TBA Not 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 IRM EPS forecast?
IRM EPS forecast for the fiscal quarter 2024 (Q4) is $0.53.
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