Overview
Iron Mountain Q3 revenue rises 12.6% yr/yr, meeting analyst expectations
Adjusted EPS for Q3 beats analyst expectations, reflecting strong performance
Company increases quarterly dividend by 10%, driven by AFFO growth
Outlook
Iron Mountain reiterates full-year 2025 guidance, with Q4 revenue expected to rise ~14%
Company expects Q4 2025 adjusted EBITDA to increase ~14%
Result Drivers
GROWTH BUSINESSES - Data center, digital, and ALM businesses collectively grew over 30% year-over-year, driving revenue growth
REVENUE INCREASE - Record revenue of $1.8 bln, driven by a 9.5% increase in storage rental revenue and a 15.3% increase in service revenue
ADJUSTED EBITDA GROWTH - Record Adjusted EBITDA of $660 mln, driven by increased revenue and improved operating leverage
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Meet | $1.75 bln | $1.75 bln (8 Analysts) |
Q3 Adjusted EPS | Beat | $0.54 | $0.53 (6 Analysts) |
Q3 EPS | $0.28 | ||
Q3 Net Income | $86 mln | ||
Q3 Adjusted EBITDA | Beat | $660 mln | $639.80 mln (7 Analysts) |
Q3 Adjusted EBITDA Margin | 37.60% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy"
Wall Street's median 12-month price target for Iron Mountain Inc is $122.00, about 15.3% above its November 4 closing price of $103.32
The stock recently traded at 45 times the next 12-month earnings vs. a P/E of 45 three months ago
Press Release: ID:nBw6Sjp5pa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)