• The stock price of Iron Mountain (NYSE: IRM) increased by 4.23% in the most recent trading session. This is why.

The stock price of Iron Mountain (NYSE: IRM) increased by 4.23% in the most recent trading session.

Why: Q4 results

Q4 results: Iron Mountain reported a Q4 EPS of $0.43, which was in line with the consensus. And the revenue for the quarter was $1.28 billion compared to a consensus of $1.31 billion.

Guidance: Iron Mountain estimated an FY 2023 revenue range of $5.5 billion to $5.6 billion compared to a consensus of $5.51 billion.

KEY QUOTE:

“Our record performance reflects the continued strength and resilience of our business model, and we are pleased to report a set of very strong results for the fourth quarter and full year, including all-time record Adjusted EBITDA and continued strength in AFFO. As a result of our team’s efforts and our expanded products and solutions, we achieved revenue growth of 14% for the fourth quarter and growth in Adjusted EBITDA of 13% on a constant currency basis, or 10% and 10%, respectively, on a reported basis. On a full year basis, we achieved 17% revenue growth on a constant currency basis, and 14% on a reported basis, with Adjusted EBITDA growth for the full year of 15% on a constant currency basis and 12% on a reported basis. Looking ahead to 2023, we are energized by our growth plans and we are confident in our extraordinary team’s ability to continue our mission of delivering value for our customers.”

— William L. Meaney, President and CEO of Iron Mountain