Q1 2025 Iron Mountain Inc Earnings Call Transcript
Key Points
- Iron Mountain Inc (IRM) achieved all-time high quarterly revenue of $1.6 billion, representing an 8% year-over-year growth.
- The company's adjusted EBITDA increased by 12% to $580 million compared to last year, with a 13% growth when excluding foreign exchange effects.
- The portfolio of growth businesses, including data center, digital solutions, and asset life cycle management, collectively grew more than 20% in the quarter.
- Iron Mountain Inc (IRM) secured a significant $140 million contract with the Department of Treasury for digital transformation, showcasing its capabilities in digital solutions.
- The company increased its full-year guidance, reflecting strong Q1 performance and a positive outlook, with expectations of double-digit revenue and profit growth.
- Leasing activity in the data center segment has been uncharacteristically low for the last three quarters, raising concerns about achieving the projected 125 megawatts of total new leasing.
- The consumer storage business remained a headwind to revenue growth in the first quarter, despite improvements in profitability and storage reservations.
- Pricing in the asset life cycle management market was broadly flat to slightly down, which could impact future revenue growth.
- The company faces potential tariff exposure in its data center construction, although it estimates less than 5% impact.
- Iron Mountain Inc (IRM) did not sign new hyperscale contracts in the quarter, though it expects strong interest to convert over the course of the year.
Good morning and welcome to the Iron Mountain first-quarter 2025 earnings conference call.
(Operator Instructions)
Please note this event is being recorded.
I would now like to turn the conference over to Mr. Mark Rupe, Senior Vice President of Investor Relations.
Please go ahead, sir.
Thank you, Chuck.
Good morning and welcome to our first quarter of 2025 earnings conference call.
On today's call, we will refer to materials available on our Investor Relations website. We are joined here today by Bill Meaney, President and Chief Executive Officer; and Barry Hytinen, our Executive Vice President and Chief Financial Officer.
After prepared remarks, we'll open the lines for Q&A.
Today's earnings materials contain forward-looking statements, including statements regarding our expectations. All forward-looking statements are subject to certain risks and uncertainties. Please refer to today's earnings materials,
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
