Hot Stock under Review: Iron Mountain Incorporated (NYSE: IRM)

BOSTON, June 24, 2019 – Shares of Iron Mountain Incorporated (NYSE: IRM) showed the bearish trend with a lower momentum of -1.51% to $32.06. The company traded total volume of 3.133M shares as contrast to its average volume of 2.57M shares. The company has a market value of $9.34B and about 291.27M shares outstanding.

Iron Mountain Inc. (IRM) reported that it had funds from operations of $137.50M, or 48 cents per share, in the period.

Financial Performance Highlights for the First Quarter of 2019:

  • Total stated Revenues for the first quarter were $1.050B, contrast with $1.040B in the first quarter of 2018. Excluding the impact of foreign exchange (FX), stated total Revenues grew 4.5% contrast to the prior year, mainly reflecting the contribution from recent Data Center and Adjacent Business acquisitions not included in the full 2018 period, as well as growth in the Other International Business segment.
  • Income from Continuing Operations for the first quarter was $30.50M, contrast with $45.60M in the first quarter of 2018, mainly because of increased operating and interest expense, as well as a boost in the provision for income taxes. In addition, Income from Continuing Operations included $2.70M of Noteworthy Acquisition Costs in the first quarter of 2019, contrast with $19.00M in the first quarter of 2018.
  • Adjusted EBITDA for the first quarter was $324.50M, contrast with $343.00M in the first quarter of 2018. On a constant currency basis, Adjusted EBITDA reduced by 2.6%, mainly reflecting the impact of increased SG&A expenses.
  • Net Income for the first quarter was $30.50M contrast with $45.20M in the first quarter of 2018.
  • AFFO was $193.40M for the first quarter contrast with $221.50M in the first quarter of 2018, a decrease of 12.7%.

The Company offered net profit margin of 8.20% while its gross profit margin was 57.40%. ROE was recorded as 18.20% while beta factor was 0.67. The stock, as of recent close, has shown the weekly upbeat performance of 1.04% which was maintained at -1.08% in this year.

Ameena Dalia

Finance and Entertainment Reporter