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Iron Mountain
🇺🇸 NYSE:IRM
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•
Dec 31, 2024

Iron Mountain Q4 2024 Earnings Report

Key Takeaways

Iron Mountain achieved record Q4 revenue of $1.58B, growing 11.4% YoY. Adjusted EBITDA rose 15% to $605M, driven by strong performance in storage and services. Net income surged to $106M from $29M in Q4 2023.

Total Revenue
$1.58B
Previous year: $1.42B
+11.4%
EPS
$0.5
Previous year: $0.52
-3.8%
Adjusted EBITDA
$605M
Previous year: $525M
+15.2%
AFFO
$368M
Previous year: $328M
+12.3%
Cash and Equivalents
$156M
Previous year: $223M
-30.1%
Total Assets
$18.7B
Previous year: $17.5B
+7.1%

Iron Mountain

Iron Mountain

Iron Mountain Revenue by Segment

Forward Guidance

Iron Mountain projects strong growth in 2025, with revenue expected to rise 9% and Adjusted EBITDA up 12%. The company continues to expand in high-growth areas like data centers and digital transformation.

Positive Outlook

  • Revenue growth expected between 8-11%
  • Adjusted EBITDA growth projected at 11-13%
  • Excluding FX impact, revenue growth forecasted at 10-12%
  • AFFO per share guidance of $4.85 - $4.95, up 8-10%
  • Quarterly dividend increase of 10%

Challenges Ahead

  • Net income declined slightly for full year 2024
  • Continued high debt levels exceeding $13B
  • Foreign exchange fluctuations may impact revenue growth
  • Rising interest expenses affecting profitability
  • Ongoing restructuring costs could pressure margins

Company Overview

Full financial data and analysis

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