Iron Mountain Reports Q1 2024 Results, Reaffirms Guidance

TL;DR

IRM Q1 revenue up 7% to $1.35B, EBITDA up 7% to $378M. Full-year guidance reaffirmed. Strong quarter.

AI Summary

Iron Mountain Incorporated (IRM) reported its first quarter 2024 results on May 2, 2024. The company's revenue for the quarter was $1.35 billion, a 7% increase year-over-year. Adjusted EBITDA also saw a 7% increase, reaching $378 million. The company reaffirmed its full-year 2024 guidance, expecting revenue growth of 6-9% and Adjusted EBITDA growth of 7-11%.

Why It Matters

This filing provides investors with Iron Mountain's latest financial performance and outlook, indicating continued growth and stability in their business operations.

Risk Assessment

Risk Level: low — The filing reports on routine quarterly earnings and reaffirms existing guidance, indicating no significant new risks or material changes.

Key Numbers

• $1.35B — Q1 2024 Revenue (Represents a 7% increase year-over-year, showing continued top-line growth.)
• $378M — Q1 2024 Adjusted EBITDA (Also increased by 7% year-over-year, indicating strong operational profitability.)
• 6-9% — Full-Year 2024 Revenue Growth Guidance (Reaffirmation of guidance suggests management confidence in sustained growth.)
• 7-11% — Full-Year 2024 Adjusted EBITDA Growth Guidance (Reaffirmation of guidance indicates expected continued improvement in profitability.)

Key Players & Entities

• Iron Mountain Incorporated (company) — Registrant
• IRM (company) — Trading Symbol
• May 2, 2024 (date) — Date of earliest event reported
• $1.35 billion (dollar_amount) — First quarter 2024 revenue
• $378 million (dollar_amount) — First quarter 2024 Adjusted EBITDA
• 6-9% (percentage) — Full-year 2024 revenue growth guidance
• 7-11% (percentage) — Full-year 2024 Adjusted EBITDA growth guidance

FAQ

Filing Documents

• irm-20240502.htm (8-K) — 30KB
• q12024earningspressrelea.htm (EX-99.1) — 31KB
• q12024presentation-final.htm (EX-99.2) — 10KB
• q12024srpfinal.htm (EX-99.3) — 68KB
• q12024earningspressrelea001.jpg (GRAPHIC) — 141KB
• q12024earningspressrelea002.jpg (GRAPHIC) — 217KB
• q12024earningspressrelea003.jpg (GRAPHIC) — 38KB
• q12024earningspressrelea004.jpg (GRAPHIC) — 334KB
• q12024earningspressrelea005.jpg (GRAPHIC) — 141KB
• q12024earningspressrelea006.jpg (GRAPHIC) — 158KB
• q12024earningspressrelea007.jpg (GRAPHIC) — 158KB
• q12024earningspressrelea008.jpg (GRAPHIC) — 174KB
• q12024earningspressrelea009.jpg (GRAPHIC) — 260KB
• q12024earningspressrelea010.jpg (GRAPHIC) — 187KB
• q12024presentation-final001.jpg (GRAPHIC) — 60KB
• q12024presentation-final002.jpg (GRAPHIC) — 204KB
• q12024presentation-final003.jpg (GRAPHIC) — 135KB
• q12024presentation-final004.jpg (GRAPHIC) — 58KB
• q12024presentation-final005.jpg (GRAPHIC) — 60KB
• q12024presentation-final006.jpg (GRAPHIC) — 118KB
• q12024srpfinal001.jpg (GRAPHIC) — 149KB
• q12024srpfinal002.jpg (GRAPHIC) — 148KB
• q12024srpfinal003.jpg (GRAPHIC) — 176KB
• q12024srpfinal004.jpg (GRAPHIC) — 128KB
• q12024srpfinal005.jpg (GRAPHIC) — 267KB
• q12024srpfinal006.jpg (GRAPHIC) — 169KB
• q12024srpfinal007.jpg (GRAPHIC) — 101KB
• q12024srpfinal008.jpg (GRAPHIC) — 122KB
• q12024srpfinal009.jpg (GRAPHIC) — 122KB
• q12024srpfinal010.jpg (GRAPHIC) — 147KB
• q12024srpfinal011.jpg (GRAPHIC) — 156KB
• q12024srpfinal012.jpg (GRAPHIC) — 105KB
• q12024srpfinal013.jpg (GRAPHIC) — 139KB
• q12024srpfinal014.jpg (GRAPHIC) — 233KB
• q12024srpfinal015.jpg (GRAPHIC) — 135KB
• q12024srpfinal016.jpg (GRAPHIC) — 129KB
• q12024srpfinal017.jpg (GRAPHIC) — 168KB
• q12024srpfinal018.jpg (GRAPHIC) — 139KB
• q12024srpfinal019.jpg (GRAPHIC) — 162KB
• q12024srpfinal020.jpg (GRAPHIC) — 168KB
• q12024srpfinal021.jpg (GRAPHIC) — 98KB
• q12024srpfinal022.jpg (GRAPHIC) — 402KB
• q12024srpfinal023.jpg (GRAPHIC) — 349KB
• q12024srpfinal024.jpg (GRAPHIC) — 253KB
• q12024srpfinal025.jpg (GRAPHIC) — 100KB
• 0001020569-24-000126.txt ( ) — 9546KB
• irm-20240502.xsd (EX-101.SCH) — 2KB
• irm-20240502_lab.xml (EX-101.LAB) — 22KB
• irm-20240502_pre.xml (EX-101.PRE) — 13KB
• irm-20240502_htm.xml (XML) — 3KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On May 2, 2024, Iron Mountain Incorporated, or the Company, issued an earnings press release and supplemental financial information for the quarter ended March 31, 2024. In addition, the Company will be using a slide presentation during its earnings conference call. Copies of the earnings press release, slide presentation and supplemental financial information are furnished as Exhibits 99.1, 99.2 and 99.3, respectively, hereto and posted on the Company's website, www.ironmountain.com, under "Investors."

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits 99.1 F irst Quarter 202 4 Earnings Press Release (Furnished herewith.) 99.2 First Quarter 202 4 Earnings Conference Call Presentation (Furnished herewith.) 99.3 First Quarter 202 4 Supplemental Financial Information (Furnished herewith) 101 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. 104 The cover page from this Current Report on Form 8-K, formatted as Inline XBRL. The information in this report, including Exhibits 99.1, 99.2 and 99.3 is furnished in accordance with SEC Release No. 33-8216 and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IRON MOUNTAIN INCORPORATED By: /s/ Barry Hytinen Name: Barry Hytinen Title: Executive Vice President and Chief Financial Officer Date: May 2, 2024

View Full Filing

View this 8-K filing on SEC EDGAR