Iron Mountain Incorporated (delaware) · NYSE:IRM
Iron Mountain Incorporated (delaware) — Iron Mountain — Q1 2023 Earnings Presentation
6 slides from Iron Mountain Incorporated (delaware)'s earnings presentation, May 4, 2023
Slide 1: Q1 2023 Earnings Call
Q1 2023 Earnings Call May 4, 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: Q1 Accomplishments
3 Q1 Accomplishments ● Strong quarterly performance ○ Revenue of $1.31 billion, up 5% year over year, or 8% excluding the impact of Fx ○ Adjusted EBITDA of $461 million, growth of 7% year over year, or 9% excluding the impact of Fx ○ Net Income of $66 million ○ AFFO of $284 million, up 8% year over
Slide 4: First Quarter 2023
First Quarter 2023 ($ in millions, except per share data) Three Months Ended YIY % Change 3/31/23 3/31/22 Reported$ Constant Fx Storage Rental Revenue $810 $751 8% 10% Service Revenue $504 $497 2% 4% Total Revenue $1,314 $1,248 5% 8% Net Income $66 $42 57% Reported EPS $0.22 $0.14 57% Adjusted EPS $
Slide 5: Well Positioned Balance Sheet
5 Well Positioned Balance Sheet • Quarter-end leverage of 5.1x net lease adjusted ○ Lowest level since 2017 • ~$1.0 billion of liquidity • ~75% fixed rate debt • 5.3% weighted average interest rate • 5.7 years weighted average maturity
Slide 6: Reaffirming 2023 Guidance
6 Reaffirming 2023 Guidance ● Outlook: For the second quarter, we expect Revenue of approximately $1.35 billion, Adjusted EBITDA of approximately $475 million, AFFO of approximately $270 million, and AFFO per share of approximately $0.92 ($ in millions, except per share data) Approximate Y/Y Approxi