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Mar 31, 2021
Iron Mountain Q1 2021 Earnings Report
Achieved record quarterly revenue, despite COVID-19 impact, and increased 2021 financial guidance.
Key Takeaways
Iron Mountain reported a strong start to the year with record quarterly revenue, driven by growth in new areas offsetting declines in service revenue due to COVID-19 lockdowns. Adjusted EBITDA increased by 2% year over year on a constant-currency basis, with margin expansion of 100 basis points.
Total reported Revenues for the first quarter were $1.08 billion, an increase of 1.2%.
Net Income for the first quarter was $46.6 million.
Adjusted EBITDA for the first quarter was $380.6 million, an increase of 4.0%.
AFFO was $235.4 million for the first quarter, an increase of 2.1%.
Revenue by Segment
Forward Guidance
Iron Mountain has increased its 2021 financial guidance ranges, reflecting first quarter outperformance and recently closed acquisitions.
Positive Outlook
- Total Revenue: $4,365 - $4,515 million (5% - 9% Y/Y Change)
- Adjusted EBITDA: $1,585 - $1,635 million (7% - 11% Y/Y Change)
- AFFO: $955 - $1,005 million (8% - 13% Y/Y Change)
- AFFO Per Share: $3.28 - $3.45 (7% - 12% Y/Y Change)
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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