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Iron Mountain (IRM) Q2 FFO and Revenues Beat Estimates
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Have you been eager to see how Iron Mountain Incorporated (IRM - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Boston, MA – based real estate investment trust’s (REIT) earnings release this morning:
A FFO Beat
Iron Mountain came out with normalized funds from operations ("FFO") per share of 56 cents, beating the Zacks Consensus Estimate of 53 cents.
Higher revenues were primarily responsible for this FFO beat.
How Was the Earnings Surprise Trend?
Iron Mountain doesn’t have a decent surprise history. Before posting a FFO beat in Q2, over the preceding four quarters, the company missed the FFO per share estimates in three occasions and beat in the other, resulting in an average negative surprise of 1.26%. This is depicted in the graph below:
Iron Mountain’s revenues amounted to $1.06 billion, which beat the Zacks Consensus Estimate of nearly $1.04 billion. Moreover, it compared favorably with the year-ago number of $950 million.
Key Developments to Note:
Iron Mountain maintained its guidance for 2018. On a constant dollar basis, the company expects revenue in the band of $4,160-$4,260 million, denoting increase of 7-9% and adjusted EBITDA in the range of $1,435-$1,485 million, indicating growth of 12-16%. Moreover, adjusted FFO is anticipated to be in the range of $805-$865 million, denoting increase of 5-13%.
What Zacks Rank Says
Iron Mountain currently has a Zacks Rank #4 (Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Check back later for our full write up on this IRM earnings report!
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Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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Iron Mountain (IRM) Q2 FFO and Revenues Beat Estimates
Have you been eager to see how Iron Mountain Incorporated (IRM - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Boston, MA – based real estate investment trust’s (REIT) earnings release this morning:
A FFO Beat
Iron Mountain came out with normalized funds from operations ("FFO") per share of 56 cents, beating the Zacks Consensus Estimate of 53 cents.
Higher revenues were primarily responsible for this FFO beat.
How Was the Earnings Surprise Trend?
Iron Mountain doesn’t have a decent surprise history. Before posting a FFO beat in Q2, over the preceding four quarters, the company missed the FFO per share estimates in three occasions and beat in the other, resulting in an average negative surprise of 1.26%. This is depicted in the graph below:
Iron Mountain Incorporated Price and EPS Surprise
Iron Mountain Incorporated Price and EPS Surprise | Iron Mountain Incorporated Quote
Revenue Came In Higher Than Expected
Iron Mountain’s revenues amounted to $1.06 billion, which beat the Zacks Consensus Estimate of nearly $1.04 billion. Moreover, it compared favorably with the year-ago number of $950 million.
Key Developments to Note:
Iron Mountain maintained its guidance for 2018. On a constant dollar basis, the company expects revenue in the band of $4,160-$4,260 million, denoting increase of 7-9% and adjusted EBITDA in the range of $1,435-$1,485 million, indicating growth of 12-16%. Moreover, adjusted FFO is anticipated to be in the range of $805-$865 million, denoting increase of 5-13%.
What Zacks Rank Says
Iron Mountain currently has a Zacks Rank #4 (Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Check back later for our full write up on this IRM earnings report!
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>