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Here's What Key Metrics Tell Us About Iron Mountain (IRM) Q2 Earnings

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Iron Mountain (IRM - Free Report) reported $1.53 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 13%. EPS of $1.08 for the same period compares to $0.40 a year ago.

The reported revenue represents a surprise of +1.96% over the Zacks Consensus Estimate of $1.5 billion. With the consensus EPS estimate being $1.06, the EPS surprise was +1.89%.

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

    : $614.66 million compared to the $605.14 million average estimate based on six analysts. The reported number represents a change of +16.6% year over year.
  • Revenues- Storage Rental Revenue

    : $919.75 million compared to the $899.17 million average estimate based on six analysts. The reported number represents a change of +10.7% year over year.
  • Global Data Center Business- Total Revenues

    : $152.70 million versus $149.16 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +29.4% change.
  • Corporate and Other- Total Revenues

    : $131.13 million versus $122.24 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +63.8% change.
  • Global RIM Business- Total Revenue

    : $1.25 billion versus the four-analyst average estimate of $1.23 billion. The reported number represents a year-over-year change of +7.8%.
  • Global RIM Business- Service

    : $494.22 million versus the three-analyst average estimate of $489.06 million. The reported number represents a year-over-year change of +8.4%.
  • Global Data Center Business- Service

    : $5.31 million compared to the $6.15 million average estimate based on three analysts. The reported number represents a change of -24.7% year over year.
  • Global Data Center Business- Storage Rental

    : $147.40 million versus $143.90 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +32.8% change.
  • Corporate and Other- Service

    : $115.14 million versus $103.44 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +79.1% change.
  • Global RIM Business- Storage Rental

    : $756.36 million versus the two-analyst average estimate of $747.79 million. The reported number represents a year-over-year change of +7.4%.
  • Corporate and Other- Storage Rental

    : $15.99 million compared to the $16.25 million average estimate based on two analysts. The reported number represents a change of +1.5% year over year.
  • Earnings per share- Diluted

    : $0.12 million versus the five-analyst average estimate of $0.34 million.
View all Key Company Metrics for Iron Mountain here>>>

Shares of Iron Mountain have returned +11.7% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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