Iron Mountain Registers 14% Revenue Growth In Q3 Backed By Storage And Service Segments

Iron Mountain Inc IRM reported third-quarter FY22 revenue growth of 14% year-on-year to $1.29 billion, missing the consensus of $1.32 billion.
Storage Rental revenue grew 6% Y/Y to $760 million. Service revenue rose 28% Y/Y to $527 million.
The adjusted EBITDA margin contracted 50 bps to 36.5%.
Adjusted EPS of $0.48 beat the consensus of $0.45. Adjusted FFO per share improved from $0.90 a year ago to $0.98.
Iron Mountain held $155.2 million in cash and equivalents.
Dividend: The board declared a quarterly cash dividend of $0.6185 per share.
Outlook: Iron Mountain reiterated its FY22 revenue forecast of $5.125 billion - $5.275 billion versus the consensus of $5.20 billion.
It reiterated an adjusted FFO per share of $3.70 - $3.82.
Price Action: IRM shares traded lower by 1.07% at $48.65 on the last check Thursday.
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