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Dec 31, 2021
Iron Mountain Q4 2021 Earnings Report
Iron Mountain reported record quarterly and annual revenue, AFFO, and adjusted EBITDA, despite the impact of COVID on traditional services. Revenue increased by 9.4% compared to the fourth quarter of 2020, driven by a 20.4% increase in service revenue and a 4.5% increase in storage rental revenue.
Key Takeaways
Iron Mountain Incorporated announced record financial and operating results for the fourth quarter and full year 2021. Total revenue for the fourth quarter was $1.16 billion, a 9.4% increase compared to the fourth quarter of 2020. Net income for the fourth quarter was $61.5 million, and adjusted EBITDA was $430.7 million, a 15.1% increase compared to the fourth quarter of 2020.
Total reported Revenues for the fourth quarter were $1.16 billion, compared with $1.06 billion in the fourth quarter of 2020, an increase of 9.4%.
Net Income for the fourth quarter was $61.5 million compared with $246.8 million in the fourth quarter of 2020.
Adjusted EBITDA for the fourth quarter was $430.7 million, compared with $374.2 million in the fourth quarter of 2020, an increase of 15.1%.
AFFO was $267.0 million for the fourth quarter, compared with $190.8 million in the fourth quarter of 2020, an increase of 40.0%.
Revenue by Segment
Forward Guidance
Iron Mountain issued full year 2022 guidance inclusive of closed transactions.
Positive Outlook
- Total Revenue $5,125 - $5,275 million, 14% - 17% Y/Y Growth
- Adjusted EBITDA $1,800 - $1,850 million, 10% - 13% Y/Y Growth
- AFFO $1,085 - $1,120 million, 7% - 11% Y/Y Growth
- AFFO Per Share $3.70 - $3.82, 6% - 10% Y/Y Growth
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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