Iron Mountain(US:IRM) ZACKSยท2025-08-06 16:11Core Insights - Iron Mountain Incorporated (IRM) reported second-quarter adjusted funds from operations (AFFO) per share of $1.24, exceeding the Zacks Consensus Estimate of $1.19, marking a year-over-year increase of 14.8% [1][9] - The company's total revenues for the quarter reached $1.71 billion, surpassing the Zacks Consensus Estimate of $1.68 billion, and reflecting an 11.6% year-over-year growth [3][9] - IRM raised its full-year 2025 guidance for AFFO per share to a range of $5.04 to $5.13, up from the previous range of $4.95 to $5.05 [10] Financial Performance - Storage rental revenues amounted to $1,010 million, a 9.8% increase year over year, while service revenues rose 14.2% to $702 million [5] - The Global RIM business reported revenues of $1,323.8 million, growing 5.9% year over year, and the Global Data Center business saw revenues of $189.4 million, up 24% year over year [5][6] - Adjusted EBITDA increased by 15.4% year over year to $628.4 million, with an adjusted EBITDA margin expansion of 120 basis points to 36.7% [6] Balance Sheet and Cash Flow - As of June 30, 2025, IRM had cash and cash equivalents of $218 million, an increase from $155.3 million as of March 31, 2025 [7] - The company reported net debt of $15.48 billion, up from $14.87 billion as of March 31, 2025, with a weighted average interest rate of 5.7% [7] Dividend Announcement - Concurrently with the earnings release, IRM announced a cash dividend of 78.5 cents per share for the third quarter of 2025, payable on October 3 to shareholders on record as of September 15, 2025 [8] Guidance Revision - The revenue outlook for 2025 has been revised to a range of $6.79 billion to $6.94 billion, up from the previous range of $6.74 billion to $6.89 billion [11] - Adjusted EBITDA for 2025 is now anticipated to be between $2.52 billion and $2.57 billion, an increase from the prior range of $2.51 billion to $2.56 billion [11]