Iron Mountain Incorporated (delaware) · NYSE:IRM
Iron Mountain Incorporated (delaware) — Iron Mountain — Q1 2024 Earnings Presentation
6 slides from Iron Mountain Incorporated (delaware)'s earnings presentation, May 2, 2024
Slide 1: Q1 2024 Earnings Presentation
Q1 2024 Earnings Presentation May 2, 2024
Slide 2: Forward Looking Statements
Forward Looking Statements 2 We have made statements in this presentation that constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements concern our current expectations regardin
Slide 3: First Quarter 2024 Accomplishments
3 First Quarter 2024 Accomplishments ● Strong quarterly performance ○ Revenue of $1.48 billion, up 12% year over year on both a reported and constant currency basis ○ Adjusted EBITDA of $519 million, up 13% year over year on both a reported and constant currency basis ○ Net Income of $77 million ○ A
Slide 4: First Quarter 2024
First Quarter 2024 ($ in millions, except per share data) Three Months Ended Y/Y % Change 3/31/24 331/23 Reported $ Constant Fx Storage Rental Revenue $885, $810 9% 9% Service Revenue $592 $504 17% 17% Total Revenue $1,477 $1,314 12% 12% Net Income S77 $66 18% Reported EPS $0.25 $0.22 14% Adjusted E
Slide 5: Well Positioned Balance Sheet
5 Well Positioned Balance Sheet • Quarter-end leverage of 5.1x net lease adjusted ○ Remaining at the lowest level in a decade • ~$2.0 billion of liquidity • ~76% fixed rate debt • 5.7% weighted average interest rate • 5.7 years weighted average maturity
Slide 6: 2024 Guidance
2024 Guidance 6 ● Second Quarter Outlook ○ We expect Revenue of approximately $1.5 billion, Adjusted EBITDA of approximately $535 million, AFFO of approximately $310 million, and AFFO per share of approximately $1.05 ● Full Year Guidance Reaffirmed ○ We are pleased to reaffirm our full year guidance