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Iron Mountain Inc. (IRM) Tops Q1 FFO but Revenues Miss

Boston, MA-based Iron Mountain Inc. IRM is a leading provider of records management, data protection & recovery and information destruction services in more than 36 countries around the world. The company’s products cater to a diversified customer base that comprises commercial, legal, financial services, health care, entertainment, and government organizations.

Zacks Rank: Currently, Iron Mountain has a Zacks Rank#3 (Hold) but that could change following its first-quarter 2016 earnings report which has just released.

We have highlighted some of the key details from the just-released announcement below:

Earnings: Iron Mountain reported normalized funds from operations (FFO) of 51 cents per share, above the Zacks Consensus Estimate of 48 cents and year-ago quarter earnings of 50 cents.

Revenue: Revenues of $751 million lagged the Zacks Consensus Estimate of $758 million but improved 3.8% year over year.

Key Stats: In the quarter, adjusted OIBDA (operating income before depreciation and amortization) was $235 million compared with $231 million in the year-ago quarter.

Stock Price: Shares prices did not show any movement in the pre-market trading session.

Check back later for our full write up on this IRM earnings report later!

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