- Iron Mountain Inc (NYSE:IRM) reported first-quarter FY22 revenue growth of 15% year-on-year to $1.248 billion, marginally beating the consensus of $1.240 billion.
- Storage Rental Revenue grew 6% Y/Y to $751 million. Service Revenue rose 33% Y/Y to $497 million.
- Global RIM business revenue increased 7.9% Y/Y. Global Data Center business revenue increased 36.4% Y/Y.
- Iron Mountain has inked 35 megawatts of new and expansion leasing through March 31, 2022. Subsequent to the end of Q1, it executed a 72-megawatt lease on its Northern Virginia campus. It raised the full-year projection or new leases from 50 megawatts to 130 megawatts.
- The adjusted EBITDA margin contracted 70 bps to 34.5%.
- Adjusted EPS of $0.38 beat the consensus of $0.37. Adjusted FFO per share improved from $0.81 a year ago to $0.91.
- Iron Mountain held $195.7 million in cash and equivalents.
- Dividend: The board declared a quarterly cash dividend of $0.6185 per share, payable on July 6, 2022, for shareholders of record on June 15, 2022.
- Outlook: Iron Mountain reiterated FY22 revenue of $5.125 billion – $5.275 billion, versus the consensus of $5.17 billion.
- It reiterated an adjusted FFO per share of $3.70 – $3.82.
- Price Action: IRM shares traded higher by 2.30% at $55.67 on the last check Thursday.
TLRY Earnings! Cannabis Daily January 10, 2022
The Best Daily Overview Of The Cannabis Space
Tilray, the big news of the day, reported financial results for the second fiscal quarter, which ended November 30, 2021.
The parent company is now renamed Tilray Brands.
