Iron Mountain Incorporated (delaware) · NYSE:IRM
Iron Mountain Incorporated (delaware) — Iron Mountain — Q2 2024 Earnings Presentation
6 slides from Iron Mountain Incorporated (delaware)'s earnings presentation, Aug 1, 2024
Slide 1: Q2 2024 Earnings Presentation
Q2 2024 Earnings Presentation August 1, 2024
Slide 2: Forward Looking Statements
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 regarding
Slide 3: Q2 Highlights
Q2 Highlights Strong quarterly performance and exceeded guidance ● Revenue of $1.534 billion ● Adjusted EBITDA of $544 million ● AFFO of $321 million ● AFFO per share of $1.08 ● Net Income of $35 million Year over Year Growth ● Total Revenue growth of 13% ● Adjusted EBITDA growth of 14% ● AFFO growt
Slide 4: Second Quarter 2024
Second Quarter 2024 (S in millions, except per share data) Three Months Ended YIY % Change Year to Date YIY % Change 6/30/24 6/30/23 Reported $ Constant Fx 6/30/24 6/30/23 Reported Constant Fx Storage Rental Revenue $920 $831 1% 12% $1,805 $1,641 10% 10% Service Revenue $615 $527 17% 17% $1,207 $1,0
Slide 5: Well Positioned Balance Sheet
Well Positioned Balance Sheet • Quarter-end leverage of 5.0x net lease adjusted ○ Lowest level since before the company’s REIT conversion in 2014 • $2.3 billion of liquidity • 80% fixed rate debt • 5.7% weighted average interest rate • 5.0 years weighted average maturity 5
Slide 6: 2024 Guidance
2024 Guidance In light of the strength and positive outlook in the first half of the year, we expect to be towards the upper end of our full year 2024 guidance range on all metrics ($ in millions, except per share data) 2024 Guidance (1) 3rd Quarter Outlook Total Revenue $6,000 - $6,150 ~$1,550 Adju