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NEW YORK -On Thursday, Iron Mountain Incorporated (NYSE:IRM) reported fourth quarter earnings that slightly missed estimates, while revenue grew double-digits year-over-year. The company also provided an upbeat outlook for 2025.
Iron Mountain shares edged up 0.02% following the earnings release, suggesting investors were largely satisfied with the results and outlook.
The information management services provider posted adjusted earnings per share of $0.50 for Q4, just below the $0.51 analyst consensus. Revenue rose 11.4% YoY to $1.58 billion, narrowly missing expectations of $1.6 billion.
For the full year 2024, Iron Mountain achieved record revenue of $6.15 billion, up 12.2% from 2023. Adjusted EBITDA also hit an all-time high of $2.24 billion.
Looking ahead, the company forecasts 2025 revenue between $6.65 billion and $6.8 billion, representing 8-11% growth. The midpoint of $6.73 billion is in line with Wall Street’s $6.77 billion estimate. Iron Mountain also expects adjusted funds from operations (AFFO) per share of $4.85-$4.95 for 2025.
"We are pleased to report that our fourth quarter and full year 2024 results were an all-time record for Revenue, Adjusted EBITDA, and AFFO," said CEO William L. Meaney. "We continue to execute well against our Project Matterhorn growth strategy, delivering double-digit revenue growth in Q4 with strength across each of our business segments."
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