- Iron Mountain Inc (NYSE:IRM) reported fourth-quarter FY21 revenue growth of 9% year-on-year to $1.16 billion, beating the consensus of $1.15 billion.
- Storage Rental Revenue grew 4% Y/Y to $725 million. Service Revenue rose 20% Y/Y to $434 million.
- The adjusted EBITDA margin expanded 180 bps to 37.1%.
- Adjusted EPS of $0.43 beat the consensus of $0.40. Adjusted FFO per share improved from $0.66 a year ago to $0.92.
- Iron Mountain held $255.8 million in cash and equivalents.
- The board declared a quarterly cash dividend of $0.6185 per share for Q1 FY22, payable on April 6, 2022, for shareholders of record on March 15, 2022.
- "This record result is reflective of our expanding and broad offerings, continued resiliency in our storage businesses, deep customer relationships, and strength of our team," said William L. Meaney, CEO.
- Outlook: Iron Mountain sees FY22 revenue of $5.125 billion - $5.275 billion, above the consensus of $4.74 billion.
- It sees an adjusted FFO per share of $3.70 - $3.82.
- Price Action: IRM shares traded lower by 0.57% at $42.00 in the premarket on the last check Thursday.
