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Iron Mountain (IRM) Beats on Q2 Earnings, Misses Revenues
July 28, 2017

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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!

 

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