Iron Mountain Inc
NYSE:IRM

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Iron Mountain Inc
NYSE:IRM
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Price: 104.17 USD 1.89% Market Closed
Market Cap: 30.6B USD

Iron Mountain Inc
Investor Relations

Iron Mountain Inc., a multifaceted giant in the realm of information management, weaves a narrative that began in 1951 in the iron ore hills of upstate New York. Founded by Herman Knaust, it started as a simple mushroom farming operation. However, the visionary nature of Knaust foresaw future demands for secure storage, thus transforming an empty cavern into a vault for safeguarding other types of precious commodities—corporate records and government documents. This foresight birthed a company that adapted and evolved over decades, merging with the technological waves that swept across industries, yet still deeply rooted in the old necessities for secure storage. Today, Iron Mountain is synonymous with the secure storage and management of information, catering to 225,000 organizations across 60 countries, providing not just physical but also digital solutions.

At its core, Iron Mountain's business model is a sophisticated blend of physical and digital offerings that ensures information, regardless of its form, is preserved, protected, and available when needed. The company earns revenue through its extensive storage solutions, be it physical items like paper records and sensitive film reels stored in its high-security vaults or digital assets preserved through state-of-the-art data centers. Additionally, Iron Mountain provides related services such as secure shredding, imaging services, and information governance. This diversification connects the dots between the physical and digital realms. By ensuring compliance with data regulations and managing the lifecycle of information assets, Iron Mountain maintains a stronghold in a niche that is critical for many industries, enabling them to focus on their core operations without the constant worry over the security of their data.

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Earnings Calls

2024 Q3
Nov 6, 2024
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Iron Mountain Posts Record Revenue and Strong Growth Across Segments
2024 Q3
Nov 6, 2024

In the third quarter, Iron Mountain achieved record revenue of $1.56 billion, a 12% increase year-over-year, driven by 9% growth in storage and 17% in service revenue. Adjusted EBITDA reached $568 million, up 14%, with an EBITDA margin of 36.5%. AFFO was up by 10%, reaching $1.12 per share, slightly above projections. The Global Records and Information Management (RIM) and data center businesses performed well, with organic growth rates at 10%. Looking ahead, the company expects continued double-digit growth, targeting approximately 130 megawatts in new leases for 2024 and significant increases in capital expenditures to support ongoing expansion.

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Management

Mr. Mark Kidd
Executive VP and GM of Iron Mountain Data Centers & Asset Lifecycle Management
No Bio Available
Mr. Greg W. McIntosh CA
Executive VP, Chief Commercial Officer and GM of Global Records & Information Management
No Bio Available
Mr. Daniel Borges
Chief Accounting Officer & Senior VP
No Bio Available

Contacts

Address
MASSACHUSETTS
Boston
1 Federal St
Contacts
+16175354781.0
www.ironmountain.com