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Iron Mountain Incorporated (NYSE: IRM) is a global leader in storage and information management services. With a trust base of over 220,000 organizations worldwide, Iron Mountain manages an expansive real estate network that spans more than 80 million square feet across over 1,350 facilities in 45 countries. The company's mission is to safeguard and preserve what matters most to its customers.
Founded in 1951, Iron Mountain has grown to protect billions of information assets, including crucial business documents, electronic data, medical records, and even cultural and historical artifacts. The company’s extensive solutions portfolio includes records management, data management, document management, data centers, art storage and logistics, and secure shredding. These services help organizations reduce storage costs, comply with regulations, recover from disasters, and better utilize their information.
Iron Mountain is structured as a Real Estate Investment Trust (REIT), and a significant portion of its revenue stems from its storage solutions. Additional revenue is generated through value-added services, primarily targeting enterprise clients in developed markets. The company's business is categorized into three main segments: Global RIM Business, Global Data Center Business, and Corporate and Other Business.
Recent achievements and ongoing projects highlight Iron Mountain's commitment to innovation and customer service. The company continues to expand its data center operations, aiming to cater to the growing need for secure and efficient data storage solutions. Partnerships with leading tech firms and continuous upgrades to their infrastructure underscore Iron Mountain's pivotal role in the digital transformation era.
With its consistent focus on security, compliance, and customer satisfaction, Iron Mountain remains a vital entity in the information management industry. For the latest updates and more detailed information about Iron Mountain, visit their official website at www.ironmountain.com.
Iron Mountain (NYSE: IRM) has announced a 10% increase in its quarterly cash dividend to $0.785 per share of common stock. The dividend will be payable on April 4, 2025, to shareholders of record as of March 17, 2025.
CEO William L. Meaney attributed this increase to the company's strong performance in 2024 and positive growth outlook. This marks the third consecutive year of dividend increases, aligning with their long-term plan to increase dividends alongside growth in AFFO per share.
Iron Mountain serves over 240,000 customers across 61 countries, including approximately 95% of Fortune 1000 companies, providing services in information management, digital transformation, information security, data center, and asset lifecycle management.
Iron Mountain (NYSE: IRM) reported strong Q4 and full year 2024 results with record-breaking performance. Q4 revenue reached $1.6 billion, up 11.4% year-over-year, while full-year revenue hit $6.1 billion, increasing 12.2%. The company achieved Q4 net income of $106 million and full-year net income of $184 million.
Record quarterly and full-year Adjusted EBITDA were $605 million and $2.2 billion respectively. Storage rental revenue grew 8.8% and service revenue increased 17.2% in Q4, excluding foreign exchange impacts.
Looking ahead to 2025, Iron Mountain provided guidance projecting revenue growth of 8-11% and Adjusted EBITDA growth of 11-13%. The company also announced a 10% increase in quarterly dividend to $0.785 per share, payable on April 4, 2025.
Ooredoo Group and Iron Mountain have announced a strategic partnership where Iron Mountain will acquire a minority equity stake in Ooredoo's carrier-neutral data centre company, MENA Digital Hub. The collaboration aims to expand MENA's hyperscale and AI data centre infrastructure, combining Ooredoo's local expertise with Iron Mountain's global operational experience.
Iron Mountain will provide specialized advice in design, construction, and operations of data centres. The partnership focuses on operational support, infrastructure enhancement, and supporting MENA Digital Hub's expansion plans across key MENA markets. MENA Digital Hub plans to expand its capacity to over 120 megawatts through a USD 1 billion investment in the medium term.
Iron Mountain currently operates approximately 415 megawatts of colocation, hyperscale, and AI-related capacity across 21 markets, with potential capacity of nearly 1.3 gigawatts. Ooredoo recently raised QAR 2 billion in bank financing to accelerate its data centre and AI business growth.
Iron Mountain (NYSE: IRM) has released its tax treatment details for all 2024 distributions on common stock. The company declared four quarterly distributions totaling $2.665 per share for 2024, with payments scheduled for January 4 ($0.65), April 4 ($0.65), July 5 ($0.65), and October 3 ($0.715). Of the total distribution, $2.201683 per share is classified as Ordinary Taxable Dividend, and $0.463317 per share as Return of Capital.
Shareholders who held stock directly will receive IRS Form 1099-DIV from Computershare, while those holding shares in 'street name' may need this detailed information to properly complete their federal tax returns. The announcement includes specific breakdowns of qualified dividends, capital gains, and Section 199A dividend classifications.
Iron Mountain (NYSE: IRM) has announced it will release its fourth quarter and full year 2024 financial results before market hours on Thursday, February 13, 2025. The company will host a conference call at 8:30 A.M. Eastern Time on the same day to discuss the results.
The earnings release, conference call slides, and supplemental financial information will be available on Iron Mountain's investor relations website. Investors can access the webcast through pre-registration, which provides immediate access and a unique PIN. A telephonic replay will be available for one week following the call.
Iron Mountain (NYSE: IRM) has elected June Yee Felix to its Board of Directors, effective January 1, 2025. Felix brings three decades of leadership experience in financial services, fintech, and technology sectors. She served as Group CEO of IG Group plc from 2018 to 2023 and held senior positions at Verifone, Citibank, IBM, and Chase Manhattan Bank. She currently serves as a non-executive director at RELX PLC and is an advisory board member of the London Technology Club. Felix holds a bachelor's degree in chemical engineering and pre-med from the University of Pittsburgh.
Iron Mountain (NYSE: IRM) has announced its participation in the Barclays 22nd Annual Global Technology Conference in San Francisco. The company's Executive Vice President and CFO, Barry A. Hytinen, will engage in a fireside chat on Wednesday, December 11, 2024, at 8:05 am PT (11:05 am ET).
The presentation will be accessible via webcast through Iron Mountain's Investor Relations website section. Iron Mountain serves over 240,000 customers across 60 countries, including approximately 95% of Fortune 1000 companies, providing services in information management, digital transformation, information security, data center, and asset lifecycle management.
Iron Mountain (NYSE: IRM) has announced the pricing of an upsized private placement offering of $1.2 billion in 6.25% Senior Notes due 2033. This represents a $450 million increase from the previously announced $750 million offering. The Notes will be guaranteed by the company's subsidiaries that are obligors under existing notes series.
The company plans to use the net proceeds to repay a portion of outstanding borrowings under its revolving credit facility. The Notes are being offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons outside the United States under Regulation S.
Iron Mountain (NYSE: IRM) has announced a private placement offering of $750.0 million in Senior Notes due 2033. The Notes will be guaranteed by the Company's subsidiaries that are obligors under existing notes series. The proceeds will be used to repay a portion of outstanding borrowings under the Company's revolving credit facility. The Notes will be offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons outside the United States under Regulation S.
Iron Mountain (NYSE: IRM) has expanded its data center capacity in Virginia through two strategic acquisitions. The company acquired a 66-acre site in Richmond for a new campus with over 200 MW capacity and a 40-acre site in Manassas for two new buildings offering 150 MW capacity. These acquisitions add more than 350 MW of planned future capacity, bringing Iron Mountain's total global data center capacity to over 1.2 gigawatts when fully developed. The Manassas expansion includes a new electricity substation. The facilities will offer compliance with various standards including HIPAA, FISMA High, and PCI-DSS, and will be powered by 100% renewable energy.
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