Iron Mountain (NYSE: IRM) stock price has gone parabolic this year, making it one of the top-performing companies in the S&P 500 index. It has risen in the last five consecutive months and is sitting at its highest point on record.
Iron Mountain Incorporated (NYSE:IRM ) Goldman Sachs Communacopia + Technology Conference September 10, 2024 11:50 AM ET Company Participants Barry Hytinen - CFO Conference Call Participants George Tong - Goldman Sachs Santiago Suinaga - Infrastructure Masons George Tong Let's go ahead and get started. Good morning, everyone, and welcome.
To manage physical and digital information, Iron Mountain (IRM) uses MongoDB Atlas as the data platform for its InSight DXP.
Iron Mountain's (IRM) strong cash flows in the storage and records management business and a focus on the data center business are upsides, though competition and high interest rates are concerns.
A recurring revenue model and expansion into the data center business will likely drive Iron Mountain's (IRM) performance despite the elevated interest rate environment.
Iron Mountain's (IRM) Q2 results reflect a year-over-year rise in revenues backed by solid storage and service segments and the data-center business performance. However, high interest expenses ail.
Although the revenue and EPS for Iron Mountain (IRM) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Iron Mountain Incorporated (NYSE:IRM ) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Gillian Tiltman - SVP and Head, IR William Meaney - President and CEO Barry Hytinen - EVP and CFO Conference Call Participants George Tong - Goldman Sachs Kevin McVeigh - UBS Nate Crossett - BNP Alexander Hess - JPMorgan Eric Luebchow - Wells Fargo Shlomo Rosenbaum - Stifel Brendan Lynch - Barclays Jon Atkin - RBC Operator Good morning and welcome to the Iron Mountain Second Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode.
Iron Mountain (IRM) came out with quarterly funds from operations (FFO) of $1.08 per share, beating the Zacks Consensus Estimate of $1.06 per share. This compares to FFO of $0.94 per share a year ago.
Iron Mountain on Thursday posted a rise in funds from operations (FFO) for the second quarter, on the back of rising demand for its data-center business.
Beyond analysts' top -and-bottom-line estimates for Iron Mountain (IRM), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2024.
Iron Mountain's (IRM) Q2 results are likely to be aided by strength in core storage and record management businesses and solid data center demand. However, high interest expenses remain a concern.