7 slides from Iron Mountain Incorporated (delaware)'s earnings presentation, Nov 3, 2022
Slide 1: Q3 2022 Earnings Call
Q3 2022 Earnings Call November 3, 2022
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: Q3 Accomplishments
3 Q3 Accomplishments ● Record quarterly performance ○ Revenue of $1.29 billion, up 14% year over year, or 18% excluding the impact of Fx ○ Adjusted EBITDA of $469 million, growth of 12% year over year, or 16% excluding the impact of Fx ○ Net Income of $193 million ○ AFFO of $288 million, up 9% year
Slide 4: Matterhorn Highlights
4 Matterhorn Highlights ● At our Investor Day we introduced Project Matterhorn ○ 2026 revenue 5-year CAGR ~10% ○ 2026 Adjusted EBITDA 5-year CAGR ~10% ○ 2026 AFFO 5-year CAGR ~8% ○ 2026 AFFO per share 5-year CAGR ~7% ● Focused on capital allocation ○ Fully funded plan through EBITDA expansion and le
Slide 5: Third Quarter 2022
Third Quarter 2022 ($ in millions, except per share data) Three Months Ended YIY % Change Year to Date YIY % Change 9/30/22 9/30/21 Reported$ ConstantFx 9/30/22 9/30/21 Reported $ Constant Fx Storage Rental Revenue $760 $719 6% 10% $2,265 $2,145 6% 9% Service Revenue $527 $412 28% 33% $1,560 $1,187
Slide 6: Balance Sheet Well Positioned
6 Balance Sheet Well Positioned Balance Sheet Highlights as of Net Lease Adjusted Leverage 09/30/2022 • ~$1.5 billion of liquidity • ~79% fixed rate debt • 5.0% weighted average interest rate • 6.3 years weighted average maturity Source: J.P. Morgan REIT Weekly U.S. Real Estate report October 14, 20
Slide 7: 2022 Guidance
7 2022 Guidance ● Well on track to achieve Full Year 2022 guidance ● Outlook: For the fourth quarter, we expect strong growth trends to continue with Revenue of approximately $1.3 billion, Adjusted EBITDA of approximately $470 million, AFFO of approximately $280 million, and AFFO per share of approx