IRM

Iron Mountain Q4 AFFO Rises

(RTTNews) - Iron Mountain Incorporated (IRM) reported that its fourth quarter AFFO was $327.6 million, compared with $298.5 million in the fourth quarter of 2022, an increase of 10%. AFFO per share was $1.11, compared with $1.02. FFO Normalized per share was $0.83, compared with $0.74. Net income declined to $29 million from $126 million, prior year. Reported EPS was $0.10 compared to $0.42. Adjusted EPS was $0.52 compared to $0.43.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.45, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter total revenue increased to $1.42 billion from $1.28 billion, previous year. Excluding the impact of foreign currency exchange, total reported revenues increased 10.0% compared to the prior year. Analysts on average had estimated $1.45 billion in revenue.

For 2024, the company expects: AFFO Per Share in a range of $4.39 - $4.51; and total revenue in a range of $6.00 billion to $6.15 billion.

On February 22, 2024, Iron Mountain's Board declared a quarterly cash dividend of $0.65 per share for the first quarter. The first quarter dividend is payable on April 4, 2024, for shareholders of record on March 15, 2024.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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