Hot Stock to Track: Iron Mountain Incorporated (NYSE: IRM)

On Friday, Shares of Iron Mountain Incorporated (NYSE: IRM) inclined 2.21% to $34.29. The stock traded total volume of 1,693,700 shares lower than the average volume of 2.13M shares.

Iron Mountain Incorporated (IRM), the storage and information management services company, declares financial and operating results for the third quarter of 2018.

Financial Performance Highlights for the Third Quarter and Year-to-date 2018

  • Total stated Revenues for the third quarter were $1,061.0M in 2018, contrast with $966.0M in 2017. On a constant dollar (C$) basis, Total Revenues grew 12.4% contrast to the prior year, reflecting a full quarter of results from recent data center acquisitions not included in the 2017 period. Year to date, Total stated Revenues were $3.16B, contrast with $2.85B in 2017, a boost of 10.4% on a C$ basis.
  • Income from Continuing Operations for the third quarter was $79.0M, contrast with $25.0M in the third quarter of 2017. Income from Continuing Operations included $9.0M of noteworthy acquisition costs in the third quarter of 2018, contrast with $18.0M in the third quarter of 2017. Year to date, Income from Continuing Operations was $218.0M, contrast with $167.0M in 2017, with noteworthy acquisition costs of $39.0M in 2018 and $59.0M in 2017. For the third quarter of 2017, Income from Continuing Operations also included $48.0M of debt extinguishment charges associated with U.S. and Canadian debt refinancing activity.
  • On a stated dollar basis, Adjusted EBITDA for the third quarter was $364.0M, contrast with $323.0M in 2017. On a C$ basis, Adjusted EBITDA increased by 14.8% reflecting the data center acquisitions noted above, flow through from revenue management programs, improvement in Service margins, and cost synergies resulting from the Recall acquisition. Year to date, Adjusted EBITDA was $1.08B, contrast with $934.0M in 2017, a boost of 14.5% on a C$ basis.
  • Net Income for the third quarter was $67.0M contrast with $24.0M in 2017, reflecting impacts from the data center acquisitions noted above. Year to date, Net Income was $206.0M contrast with $164.0M in 2017.
  • AFFO was $229.0M for the third quarter contrast with $210.0M in 2017, a boost of 8.8%. Year to date, AFFO was $680.0M, contrast with $598.0M in 2017.

IRM has the market capitalization of $9.81B and its EPS growth ratio for the past five years was -6.20%. The return on assets ratio of the Company was 2.00% while its return on investment ratio stands at 5.70%. Price to sales ratio was 2.36 while 90.40% of the stock was owned by institutional investors.

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