Iron Mountain Incorporated (delaware) · NYSE:IRM
Iron Mountain Incorporated (delaware) — Iron Mountain — Q4 2023 Earnings Presentation
7 slides from Iron Mountain Incorporated (delaware)'s earnings presentation, Feb 22, 2024
Slide 1: Q4 2023 Earnings Presentation
Q4 2023 Earnings Presentation February 22, 2024
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: Record Q4 Accomplishments
Record Q4 Accomplishments 3 ● Record quarterly performance ○ Revenue of $1.42 billion, up 11% year over year ○ Adjusted EBITDA of $525 million, up 11% year over year ○ Net Income of $29 million ○ AFFO of $328 million, up 10% year over year ○ AFFO/Share of $1.11, up 9% year over year ● Organic storag
Slide 4: Full Year 2023 Accomplishments
4 Full Year 2023 Accomplishments ● Record full year performance ○ Revenue of $5.5 billion, up 7% year over year ○ Adjusted EBITDA of $1.96 billion, up 7% year over year ○ Net Income of $187 million ○ AFFO of $1.21 billion, up 5% year over year ○ AFFO/Share of $4.12, up 5% year over year ● Data Cente
Slide 5: Record Q4 and Full Year 2023
Record Q4 and Full Year 2023 5 Effective Q4 2023, our AFFO calculation has been updated to exclude amortization of capitalized commissions. With this change, our calculation more accurately represents our funds available to support growth, and is more comparable to our peers, including those in the
Slide 6: Well Positioned Balance Sheet
6 Well Positioned Balance Sheet • Year-end leverage of 5.1x net lease adjusted ○ Remaining at lowest level in a decade • $2.8 billion of liquidity • 80% fixed rate debt • 6.1 years weighted average maturity
Slide 7: 2024 Guidance
7 2024 Guidance ● Outlook: For the first quarter, we expect strong growth with Revenue of approximately $1.45 billion, Adjusted EBITDA in excess of $510 million, AFFO of approximately $310 million, and AFFO per share of approximately $1.05 ($ in millions, except per share data) Y/Y % Change at 2024