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Compared to Estimates, Iron Mountain (IRM) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2023, Iron Mountain (IRM - Free Report) reported revenue of $1.39 billion, up 7.9% over the same period last year. EPS came in at $0.99, compared to $0.48 in the year-ago quarter.
The reported revenue represents a surprise of -1.50% over the Zacks Consensus Estimate of $1.41 billion. With the consensus EPS estimate being $1.00, the EPS surprise was -1.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Iron Mountain performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Service Revenue: $529.52 million compared to the $557.80 million average estimate based on six analysts. The reported number represents a change of +0.5% year over year.
Revenues- Storage Rental Revenue: $858.66 million versus $851.41 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +13% change.
Corporate and Other- Total Revenues: $77.99 million versus $84.06 million estimated by three analysts on average.
Global Data Center Business- Total Revenues: $127.54 million compared to the $127.76 million average estimate based on three analysts.
Global RIM Business- Total Revenue: $1.18 billion versus the three-analyst average estimate of $1.20 billion.
Global RIM Business- Service: $463.09 million versus the two-analyst average estimate of $486.77 million.
Corporate and Other- Service: $62.55 million versus the two-analyst average estimate of $68.89 million.
Global Data Center Business- Storage Rental: $123.66 million versus the two-analyst average estimate of $120.13 million.
Global Data Center Business- Service: $3.88 million versus the two-analyst average estimate of $4.99 million.
Earnings per share- Diluted: $0.31 million versus the five-analyst average estimate of $0.36 million.
Global Data Center Business- Adjusted EBITDA: $53.22 million versus the three-analyst average estimate of $54.26 million.
Adjusted EPS-Fully Diluted from Continuing Operations: $0.45 million versus $0.45 million estimated by three analysts on average.
Shares of Iron Mountain have returned +3.4% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Iron Mountain (IRM) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Iron Mountain (IRM - Free Report) reported revenue of $1.39 billion, up 7.9% over the same period last year. EPS came in at $0.99, compared to $0.48 in the year-ago quarter.
The reported revenue represents a surprise of -1.50% over the Zacks Consensus Estimate of $1.41 billion. With the consensus EPS estimate being $1.00, the EPS surprise was -1.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Iron Mountain performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Service Revenue: $529.52 million compared to the $557.80 million average estimate based on six analysts. The reported number represents a change of +0.5% year over year.
- Revenues- Storage Rental Revenue: $858.66 million versus $851.41 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +13% change.
- Corporate and Other- Total Revenues: $77.99 million versus $84.06 million estimated by three analysts on average.
- Global Data Center Business- Total Revenues: $127.54 million compared to the $127.76 million average estimate based on three analysts.
- Global RIM Business- Total Revenue: $1.18 billion versus the three-analyst average estimate of $1.20 billion.
- Global RIM Business- Service: $463.09 million versus the two-analyst average estimate of $486.77 million.
- Corporate and Other- Service: $62.55 million versus the two-analyst average estimate of $68.89 million.
- Global Data Center Business- Storage Rental: $123.66 million versus the two-analyst average estimate of $120.13 million.
- Global Data Center Business- Service: $3.88 million versus the two-analyst average estimate of $4.99 million.
- Earnings per share- Diluted: $0.31 million versus the five-analyst average estimate of $0.36 million.
- Global Data Center Business- Adjusted EBITDA: $53.22 million versus the three-analyst average estimate of $54.26 million.
- Adjusted EPS-Fully Diluted from Continuing Operations: $0.45 million versus $0.45 million estimated by three analysts on average.
View all Key Company Metrics for Iron Mountain here>>>Shares of Iron Mountain have returned +3.4% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.