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Iron Mountain (IRM) Q3 FFO Misses Estimates, Revenues Beat
Boston, MA-based Iron Mountain Inc. (IRM - Free Report) is a leading provider of records management, data protection & recovery and information destruction services in more than 45 countries around the world. The company’s products cater to a diversified customer base that comprises commercial, legal, financial services, health care, entertainment, and government organizations. It is noteworthy that 94% of the Fortune 1000 companies are on Iron Mountain’s client list.
Zacks Rank: Currently, Iron Mountain has a Zacks Rank#2 (Buy) but that could change following its third-quarter 2016 earnings report which has just released.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Iron Mountain reported normalized funds from operations (FFO) of 44 cents per share that fell below the Zacks Consensus Estimate of 58 cents and decreased 20% year over year.
Revenue: Revenues of $942.8 million beat the Zacks Consensus Estimate of $934.2 million and improved 26.3% year over year.
Key Stats: In the quarter, adjusted OIBDA (operating income before depreciation and amortization) was $294.2 million compared with $227.8 million in the year-ago quarter.
Check back later for our full write up on this IRM earnings report later!
IRON MOUNTAIN Price
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