Iron Mountain Incorporated (delaware) · NYSE:IRM
Iron Mountain Incorporated (delaware) — Iron Mountain — Q3 2023 Earnings Presentation
6 slides from Iron Mountain Incorporated (delaware)'s earnings presentation, Nov 2, 2023
Slide 1: Q3 2023 Earnings Call
Q3 2023 Earnings Call November 2, 2023
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: Q3 Highlights
Q3 Highlights 3 ● Record quarterly performance ○ Revenue of $1.4 billion ○ Adjusted EBITDA of $500 million ○ AFFO of $290 million ○ AFFO/Share of $0.99 ● Net income of $91 million ● Storage: Organic storage rental revenue growth of 10%, led by Global RIM at 8%, reflecting continued benefit of pricin
Slide 4: Third Quarter 2023
Third Quarter 2023 (S in millions, except per share data) Three Months Ended Y/Y % Change Year to Date Y/Y % Change 9/30/23 9/30/22, Reported$ = ConstantFx 9/30/23 = 9/30/22 Reported$ = Constant Fx Storage Rental Revenue $859 $760 13% 12% $2,500 $2,265 10% 11% Service Revenue $530 $527 1% = $1,561 $
Slide 5: Well Positioned Balance Sheet
5 Well Positioned Balance Sheet ● Quarter-end leverage of 5.1x net lease adjusted ○ Lowest level in a decade ● >$1.8 billion of liquidity ● ~81% fixed rate debt ● 5.6% weighted average interest rate ● 5.5 years weighted average maturity
Slide 6: Reaffirming 2023 Guidance
Reaffirming 2023 Guidance 6 ● On track to achieve Full Year 2023 guidance ● Outlook: For the fourth quarter, we expect Revenue of approximately $1.44 billion, Adjusted EBITDA of approximately $520 million, AFFO of approximately $310 million, and AFFO per share of approximately $1.05 ○ Since the time