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Jun 30, 2023
Iron Mountain Q2 2023 Earnings Report
Iron Mountain reported record quarterly revenue and adjusted EBITDA.
Key Takeaways
Iron Mountain reported a net income of $1.1 million and a total revenue of $1.358 billion for Q2 2023. The company's adjusted EBITDA was $475.7 million, and AFFO was $277.0 million. The board declared a quarterly cash dividend of $0.65 per share for the third quarter, representing an increase of 5%.
Total reported revenues for the second quarter increased by 5.3% to $1.4 billion.
Net Income for the second quarter was $1.1 million.
Adjusted EBITDA for the second quarter was $475.7 million, an increase of 4.6%.
AFFO was $277.0 million for the second quarter, an increase of 2.2%.
Revenue by Segment
Forward Guidance
Iron Mountain affirmed full year 2023 guidance.
Positive Outlook
- Total Revenue $5,500 - $5,600 million, ~9% Y/Y Change at Midpoint
- Adjusted EBITDA $1,940 - $1,975 million, ~7% Y/Y Change at Midpoint
- AFFO $1,150 - $1,175 million, ~5% Y/Y Change at Midpoint
- AFFO Per Share $3.91 - $4.00, ~4% Y/Y Change at Midpoint
Historical Earnings Impact
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Avg. Return Before/After Earnings
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