Iron Mountain Q2 2024 Earnings Report
Key Takeaways
Iron Mountain reported a strong second quarter with record revenue and adjusted EBITDA. The company saw growth in storage rental and service revenue, and leased 66 megawatts in data centers. They also increased the quarterly dividend by 10% and expect to be towards the upper end of their full year 2024 guidance range.
Total reported revenues increased by 13.0% compared to Q2 2023.
Net Income increased to $34.6 million, compared to $1.1 million in Q2 2023.
Adjusted EBITDA increased by 14.4% compared to Q2 2023.
AFFO per share was $1.08 for the second quarter, compared with $0.98 in the second quarter of 2023.
Iron Mountain
Iron Mountain
Iron Mountain Revenue by Segment
Forward Guidance
Iron Mountain affirmed full year 2024 guidance, and now expects to be towards the upper end of the full year 2024 guidance range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income