Iron Mountain Incorporated (delaware) · NYSE:IRM
Iron Mountain Incorporated (delaware) — Iron Mountain — Q2 2023 Earnings Presentation
6 slides from Iron Mountain Incorporated (delaware)'s earnings presentation, Aug 3, 2023
Slide 1: Q2 2023 Earnings Call
Q2 2023 Earnings Call August 3, 2023
Slide 2: Forward Looking Statements
2 Forward Looking Statements 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: Q2 Highlights
3 Q2 Highlights ● Record quarterly performance and exceeded guidance ○ Revenue of $1.36 billion ○ Adjusted EBITDA of $476 million ○ AFFO of $277 million ○ AFFO/Share of $0.94 ● Net income of $1 million ● Organic storage rental revenue growth of 11%, led by Global RIM at 9.2%, reflecting continued be
Slide 4: Second Quarter 2023
Second Quarter 2023 (Sin millions, except per share data) Three Months Ended YIY % Change Year to Date YIY % Change 6/30/23 6/30/22 Reported$ ConstantFx 6/30/23 6/30/22 Reported$ Constant Fx Storage RentalRevenue $831 $753 10% 11% $1,641 $1,504 9% 11% Service Revenue $527 $536 (2)% (1)% $1,031 $1,03
Slide 5: Well Positioned Balance Sheet
5 Well Positioned Balance Sheet • Quarter-end leverage of 5.1x net lease adjusted ○ Remaining at lowest level since 2017 • ~$1.7 billion of liquidity • ~83% fixed rate debt • 5.5% weighted average interest rate • 5.6 years weighted average maturity Northern Virginia Data Center Campus Construction 2
Slide 6: Reaffirming 2023 Guidance
6 Reaffirming 2023 Guidance ● Outlook: For the third quarter, we expect Revenue of in excess of $1.4 billion, Adjusted EBITDA approaching $500 million, AFFO of approximately $290 million, and AFFO per share of approximately $0.99 ($ in millions, except per share data) Approximate Y/Y Approximate Y/Y