Iron Mountain Q1 2023 Earnings Report
Key Takeaways
Iron Mountain reported a strong first quarter with record revenue and adjusted EBITDA growth. The success of Project Matterhorn exceeded expectations, and the company is on track to continue providing innovative solutions.
Total reported revenues for the first quarter increased by 5.3% compared to the first quarter of 2022.
Net Income for the first quarter was $65.5 million compared with $41.7 million in the first quarter of 2022.
Adjusted EBITDA for the first quarter was $460.8 million, an increase of 6.9% compared to the first quarter of 2022.
AFFO per share was $0.97 for the first quarter, compared with $0.91 in the first quarter of 2022, an increase of 7.0%.
Iron Mountain
Iron Mountain
Iron Mountain Revenue by Segment
Forward Guidance
Iron Mountain affirmed full year 2023 guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income