Back to top

Iron Mountain (IRM) Beats on Q2 Earnings, Misses Revenues

Read MoreHide Full Article

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 95% of the Fortune 1000 companies are on Iron Mountain’s client list.

Currently, Iron Mountain has a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

However, the Zacks Rank could definitely change following the company’s second-quarter 2017 report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Iron Mountain reported normalized funds from operations (FFO) of 55 cents per share that beat the Zacks Consensus Estimate of 52 cents and increased 14.6% year over year.

Revenues: Revenues of $950 million missed the Zacks Consensus Estimate of $955 million and improved 7.5% year over year.

Key Stats: In the quarter, adjusted EBITDA (earnings before depreciation and amortization) was $318 million compared with $261 million in the year-ago quarter.

Check back for our full write up on this Iron Mountain earnings report later!


The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaries," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

Iron Mountain Incorporated (IRM) - free report >>

More from Zacks Tale of the Tape

You May Like