Iron Mountain Earnings: Here’s Why the Stock is Falling Now
Iron Mountain Inc. (NYSE:IRM) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 5.35%.
Iron Mountain Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 39.39% to $0.2 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 3.98% to $758.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Iron Mountain Inc. reported adjusted EPS income of $0.2 per share. By that measure, the company missed the mean analyst estimate of $0.25. It beat the average revenue estimate of $751.04 million.
Quoting Management: “Our solid operating performance in the fourth quarter concludes a year of consistent growth in our storage rental business which more than offset moderate declines in core services,” said William Meaney, Iron Mountain’s president and chief executive officer. “Strong constant dollar storage rental growth of 5% in the fourth quarter reflects healthy increases of more than 12% in our international business, driven by robust organic growth and acquisitions, and more than 2% in our North American business.”
Key Stats (on next page)…