Iron Mountain Q4 Adj. Profit Rises; Issues 2022 Guidance

(RTTNews) - Iron Mountain Incorporated (IRM) reported fourth quarter net income of $61.5 million compared to $246.8 million, a year ago. Earnings per share was $0.21, compared to $0.86. Adjusted EPS was $0.43, compared to $0.29, previous year.

On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.40, for the quarter. Analysts' estimates typically exclude special items.

FFO (Normalized) per share was $0.74, compared to $0.60, last year, an increase of 23.3%. AFFO per share was $0.92, compared to $0.66.

Total reported revenues were $1.16 billion, compared to $1.06 billion, a year ago, an increase of 9.4%. Excluding the impact of foreign currency exchange, total reported revenues increased 9.9%, driven by a 20.4% increase in Service revenue. Analysts on average had estimated $1.15 billion in revenue.

For fiscal 2022, the company expects: AFFO per share of $3.70 - $3.82; and total revenue in a range of $5.125 billion - $5.275 billion.

Iron Mountain's Board declared a quarterly cash dividend of $0.6185 per share for the first quarter. The dividend is payable on April 6, 2022, for shareholders of record on March 15, 2022.