Specialized REIT Iron Mountain Clocks Strong Earnings Growth in Q4, Eyes Expansion with Project Matterhorn



Specialized REIT firm Iron Mountain Inc (NYSE: IRM) reported fourth-quarter fiscal 2023 revenue growth of 11% year-on-year to $1.42 billion, missing the consensus estimate of $1.45 billion.

Storage rental revenue grew 13% Y/Y to $871 million. Service revenue rose 8% Y/Y to $549 million.

The adjusted EBITDA margin expanded by 60 bps to 35.1%.

Adjusted EPS was $0.52. Adjusted FFO per share improved by 9% Y/Y to $1.07, …

Full story available on Benzinga.com


Leave a Reply

Your email address will not be published. Required fields are marked *