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Compared to Estimates, Iron Mountain (IRM) Q2 Earnings: A Look at Key Metrics
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Iron Mountain (IRM - Free Report) reported $1.36 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 5.3%. EPS of $0.94 for the same period compares to $0.46 a year ago.
The reported revenue represents a surprise of +0.30% over the Zacks Consensus Estimate of $1.35 billion. With the consensus EPS estimate being $0.93, the EPS surprise was +1.08%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Iron Mountain performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Storage Rental Revenue: $830.76 million versus the six-analyst average estimate of $824.04 million. The reported number represents a year-over-year change of +10.3%.
Revenues- Service Revenue: $527.18 million versus the six-analyst average estimate of $529.85 million. The reported number represents a year-over-year change of -1.7%.
Global Data Center Business- Service: $7.04 million compared to the $5.44 million average estimate based on two analysts.
Global RIM Business- Service: $455.86 million versus $460.25 million estimated by two analysts on average.
Global RIM Business- Total Revenue: $1.16 billion versus the two-analyst average estimate of $1.16 billion.
Global Data Center Business- Storage Rental: $110.99 million versus $111.37 million estimated by two analysts on average.
Corporate and Other- Total Revenues: $80.04 million versus $75.84 million estimated by two analysts on average.
Global Data Center Business- Total Revenues: $118.03 million versus $123.05 million estimated by two analysts on average.
Earnings per share- Diluted: $0 million versus the five-analyst average estimate of $0.35 million.
Adjusted EPS-Fully Diluted from Continuing Operations: $0.40 million compared to the $0.42 million average estimate based on three analysts.
Global Data Center Business- Adjusted EBITDA: $53.81 million versus the two-analyst average estimate of $52.21 million.
Corporate and Other- Adjusted EBITDA: -$77.21 million versus the two-analyst average estimate of -$80.61 million.
Shares of Iron Mountain have returned +5.9% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Iron Mountain (IRM) Q2 Earnings: A Look at Key Metrics
Iron Mountain (IRM - Free Report) reported $1.36 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 5.3%. EPS of $0.94 for the same period compares to $0.46 a year ago.
The reported revenue represents a surprise of +0.30% over the Zacks Consensus Estimate of $1.35 billion. With the consensus EPS estimate being $0.93, the EPS surprise was +1.08%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Iron Mountain performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Storage Rental Revenue: $830.76 million versus the six-analyst average estimate of $824.04 million. The reported number represents a year-over-year change of +10.3%.
- Revenues- Service Revenue: $527.18 million versus the six-analyst average estimate of $529.85 million. The reported number represents a year-over-year change of -1.7%.
- Global Data Center Business- Service: $7.04 million compared to the $5.44 million average estimate based on two analysts.
- Global RIM Business- Service: $455.86 million versus $460.25 million estimated by two analysts on average.
- Global RIM Business- Total Revenue: $1.16 billion versus the two-analyst average estimate of $1.16 billion.
- Global Data Center Business- Storage Rental: $110.99 million versus $111.37 million estimated by two analysts on average.
- Corporate and Other- Total Revenues: $80.04 million versus $75.84 million estimated by two analysts on average.
- Global Data Center Business- Total Revenues: $118.03 million versus $123.05 million estimated by two analysts on average.
- Earnings per share- Diluted: $0 million versus the five-analyst average estimate of $0.35 million.
- Adjusted EPS-Fully Diluted from Continuing Operations: $0.40 million compared to the $0.42 million average estimate based on three analysts.
- Global Data Center Business- Adjusted EBITDA: $53.81 million versus the two-analyst average estimate of $52.21 million.
- Corporate and Other- Adjusted EBITDA: -$77.21 million versus the two-analyst average estimate of -$80.61 million.
View all Key Company Metrics for Iron Mountain here>>>Shares of Iron Mountain have returned +5.9% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.