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Compared to Estimates, Iron Mountain (IRM) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, Iron Mountain (IRM - Free Report) reported revenue of $1.48 billion, up 12.4% over the same period last year. EPS came in at $1.10, compared to $0.42 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.46 billion, representing a surprise of +0.97%. The company delivered an EPS surprise of +4.76%, with the consensus EPS estimate being $1.05.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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- Service Revenue: $592.02 million versus $572.95 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +17.4% change.
Revenues- Storage Rental Revenue: $884.84 million compared to the $889.05 million average estimate based on six analysts. The reported number represents a change of +9.2% year over year.
Global Data Center Business- Storage Rental: $140.03 million versus the four-analyst average estimate of $143.67 million.
Global Data Center Business- Service: $3.91 million versus the four-analyst average estimate of $5.32 million.
Corporate and Other- Total Revenues: $122.77 million compared to the $108.38 million average estimate based on four analysts.
Corporate and Other- Service: $106.94 million compared to the $89.69 million average estimate based on four analysts.
Global Data Center Business- Total Revenues: $143.94 million versus the four-analyst average estimate of $147.77 million.
Global RIM Business- Total Revenue: $1.21 billion compared to the $1.21 billion average estimate based on four analysts.
Global RIM Business- Service: $481.17 million versus the four-analyst average estimate of $472.50 million.
Corporate and Other- Storage Rental: $15.83 million compared to the $15.62 million average estimate based on three analysts.
Global RIM Business- Storage Rental: $728.98 million compared to the $740.95 million average estimate based on three analysts.
Earnings per share- Diluted: $0.25 million versus $0.34 million estimated by five analysts on average.
Shares of Iron Mountain have returned -1.4% over the past month versus the Zacks S&P 500 composite's -4.2% 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) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, Iron Mountain (IRM - Free Report) reported revenue of $1.48 billion, up 12.4% over the same period last year. EPS came in at $1.10, compared to $0.42 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.46 billion, representing a surprise of +0.97%. The company delivered an EPS surprise of +4.76%, with the consensus EPS estimate being $1.05.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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- Service Revenue: $592.02 million versus $572.95 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +17.4% change.
- Revenues- Storage Rental Revenue: $884.84 million compared to the $889.05 million average estimate based on six analysts. The reported number represents a change of +9.2% year over year.
- Global Data Center Business- Storage Rental: $140.03 million versus the four-analyst average estimate of $143.67 million.
- Global Data Center Business- Service: $3.91 million versus the four-analyst average estimate of $5.32 million.
- Corporate and Other- Total Revenues: $122.77 million compared to the $108.38 million average estimate based on four analysts.
- Corporate and Other- Service: $106.94 million compared to the $89.69 million average estimate based on four analysts.
- Global Data Center Business- Total Revenues: $143.94 million versus the four-analyst average estimate of $147.77 million.
- Global RIM Business- Total Revenue: $1.21 billion compared to the $1.21 billion average estimate based on four analysts.
- Global RIM Business- Service: $481.17 million versus the four-analyst average estimate of $472.50 million.
- Corporate and Other- Storage Rental: $15.83 million compared to the $15.62 million average estimate based on three analysts.
- Global RIM Business- Storage Rental: $728.98 million compared to the $740.95 million average estimate based on three analysts.
- Earnings per share- Diluted: $0.25 million versus $0.34 million estimated by five analysts on average.
View all Key Company Metrics for Iron Mountain here>>>Shares of Iron Mountain have returned -1.4% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.