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Iron Mountain
🇺🇸 NYSE:IRM
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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%.

Total Revenue
$1.08B
Previous year: $1.07B
+1.2%
EPS
$0.32
Previous year: $0.27
+18.5%
AFFO
$235M
Previous year: $231M
+1.8%
Gross Profit
$630M
Previous year: $602M
+4.7%
Cash and Equivalents
$139M
Previous year: $153M
-9.0%
Free Cash Flow
-$76.7M
Previous year: $28.3M
-371.3%
Total Assets
$13.9B
Previous year: $13.6B
+2.8%

Iron Mountain

Iron Mountain

Iron Mountain 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

Company Overview

Full financial data and analysis

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