Iron Mountain Q3 adjusted EPS beats estimates at $0.64 as EBITDA tops forecasts

what happened

According to Reuters, Iron Mountain's adjusted earnings per share for the third quarter came in at $0.64, against an IBES estimate of $0.61. Adjusted EBITDA reached $748 million compared with a forecast of $742.3 million, and the adjusted EBITDA margin was 37.6%.

Revenue was $1,990.617 million, slightly below the $1,992 million estimate. Net income for the quarter was $129 million, and EPS under continuing operations was $0.41.

For the full year, the company expects adjusted FFO of $1,780 to $1,800 million and adjusted EBITDA of $2,948 to $2,978 million, versus an estimate of $2,944 million. Full-year revenue guidance of $7,950 to $8,020 million sits below the consensus of $8,026 million.

why it matters

The main driver for Iron Mountain shares is the EBITDA beat and a full-year EBITDA outlook above consensus. The slight revenue shortfall tempers the picture, so the stock reaction will depend on how the market weighs these factors against each other.

market impact

Iron Mountain shares: EBITDA beat and outlook above consensus support the stock

• ▲Iron Mountain shares pressure up — adjusted EBITDA above estimates and full-year EBITDA outlook above consensus

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