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Iron Mountain (IRM) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Iron Mountain (IRM - Free Report) reported $1.56 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 12.2%. EPS of $1.13 for the same period compares to $0.45 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.56 billion, representing a surprise of +0.06%. The company delivered an EPS surprise of +1.80%, with the consensus EPS estimate being $1.11.
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: $935.70 million versus the six-analyst average estimate of $928.99 million. The reported number represents a year-over-year change of +9%.
Revenues- Service Revenue: $621.66 million versus $626.76 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +17.4% change.
Global Data Center Business- Total Revenues: $153.21 million compared to the $155.34 million average estimate based on five analysts. The reported number represents a change of +20.1% year over year.
Global Data Center Business- Storage Rental: $150.80 million compared to the $149.61 million average estimate based on four analysts. The reported number represents a change of +22% year over year.
Global Data Center Business- Service: $2.41 million versus $5.03 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -37.9% change.
Corporate and Other- Total Revenues: $143.79 million compared to the $127.46 million average estimate based on four analysts. The reported number represents a change of +84.4% year over year.
Global RIM Business- Service: $492.58 million compared to the $502.39 million average estimate based on four analysts. The reported number represents a change of +6.4% year over year.
Global RIM Business- Total Revenue: $1.26 billion versus the four-analyst average estimate of $1.27 billion. The reported number represents a year-over-year change of +6.6%.
Corporate and Other- Service: $126.67 million versus $112.73 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +102.5% change.
Global RIM Business- Storage Rental: $767.78 million versus the three-analyst average estimate of $766.85 million. The reported number represents a year-over-year change of +6.7%.
Corporate and Other- Storage Rental: $17.13 million versus the three-analyst average estimate of $16.31 million. The reported number represents a year-over-year change of +10.9%.
Earnings per share- Diluted: -$0.11 million versus the five-analyst average estimate of $0.31 million.
Shares of Iron Mountain have returned +5.8% over the past month versus the Zacks S&P 500 composite's +0.7% 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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Iron Mountain (IRM) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Iron Mountain (IRM - Free Report) reported $1.56 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 12.2%. EPS of $1.13 for the same period compares to $0.45 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.56 billion, representing a surprise of +0.06%. The company delivered an EPS surprise of +1.80%, with the consensus EPS estimate being $1.11.
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: $935.70 million versus the six-analyst average estimate of $928.99 million. The reported number represents a year-over-year change of +9%.
- Revenues- Service Revenue: $621.66 million versus $626.76 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +17.4% change.
- Global Data Center Business- Total Revenues: $153.21 million compared to the $155.34 million average estimate based on five analysts. The reported number represents a change of +20.1% year over year.
- Global Data Center Business- Storage Rental: $150.80 million compared to the $149.61 million average estimate based on four analysts. The reported number represents a change of +22% year over year.
- Global Data Center Business- Service: $2.41 million versus $5.03 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -37.9% change.
- Corporate and Other- Total Revenues: $143.79 million compared to the $127.46 million average estimate based on four analysts. The reported number represents a change of +84.4% year over year.
- Global RIM Business- Service: $492.58 million compared to the $502.39 million average estimate based on four analysts. The reported number represents a change of +6.4% year over year.
- Global RIM Business- Total Revenue: $1.26 billion versus the four-analyst average estimate of $1.27 billion. The reported number represents a year-over-year change of +6.6%.
- Corporate and Other- Service: $126.67 million versus $112.73 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +102.5% change.
- Global RIM Business- Storage Rental: $767.78 million versus the three-analyst average estimate of $766.85 million. The reported number represents a year-over-year change of +6.7%.
- Corporate and Other- Storage Rental: $17.13 million versus the three-analyst average estimate of $16.31 million. The reported number represents a year-over-year change of +10.9%.
- Earnings per share- Diluted: -$0.11 million versus the five-analyst average estimate of $0.31 million.
View all Key Company Metrics for Iron Mountain here>>>Shares of Iron Mountain have returned +5.8% over the past month versus the Zacks S&P 500 composite's +0.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.