Iron Mountain ( (IRM) ) has released its Q4 earnings. Here is a breakdown of the information Iron Mountain presented to its investors.
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Iron Mountain Incorporated is a global leader in information management services, providing solutions for information management, digital transformation, information security, data centers, and asset lifecycle management to over 240,000 customers in 61 countries.
Iron Mountain has reported record-breaking financial results for the fourth quarter and full year 2024, achieving a quarterly revenue of $1.6 billion and an annual revenue of $6.1 billion, with growth rates of 11.4% and 12.2% respectively. The net income for the same periods was $106 million and $184 million. The company also achieved record Adjusted EBITDA of $605 million for Q4 and $2.2 billion for the year.
Key financial highlights include the strong performance of their global RIM, data center, and asset lifecycle management businesses, which drove an 8% increase in storage rental revenue and a 17% increase in service revenue. Adjusted EBITDA grew by 15% in Q4, with a full-year growth of 14%. The company also reported a 12% increase in AFFO for both the quarter and the year.
Iron Mountain’s 2025 guidance is optimistic, forecasting revenue growth of 8% to 11% and Adjusted EBITDA growth of 11% to 13%. The company announced a 10% increase in its quarterly dividend, reflecting confidence in continued strong growth in AFFO.
Looking forward, Iron Mountain remains committed to its growth strategy, emphasizing continued industry-leading revenue growth and increased contributions from its growth businesses. The management believes that the company’s strong performance and strategic initiatives will enable sustained growth and shareholder value.
