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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.
MongoDB announced that Iron Mountain is using MongoDB Atlas for their new Iron Mountain InSight® Digital Experience Platform (DXP). This platform enables customers to manage, govern, and monetize physical and digital information through AI-powered self-service tools. InSight DXP transforms unstructured information into structured, actionable data, offering pre-built, customizable solutions for various industries.
Leveraging MongoDB's flexible document model and scalable architecture, InSight DXP can handle diverse data types across industries. MongoDB Atlas supports multi-region clusters in 118+ global regions, ensuring high availability and regulatory compliance. The platform integrates with key business processes via pre-built connectors or APIs, enabling quick design and publishing of solutions with comprehensive content management and workflow automation capabilities.
Iron Mountain (NYSE: IRM) has launched the Iron Mountain InSight® Digital Experience Platform (DXP), a secure SaaS platform designed to transform information management. The platform enables customers to access, manage, govern, and monetize physical and digital information using AI-powered tools. Key features include:
- Intelligent document processing for extracting and structuring data
- Secure generative AI-powered chat for quick data queries
- Low-code solution designer for custom workflow automation
- Unified asset management for both digital and physical assets
The platform aims to enhance B2E experiences, improve productivity, and prepare businesses for AI initiatives. InSight DXP offers pre-built, customizable solutions for various industries, including banking, healthcare, and cross-industry applications like Digital Human Resources and Invoice Processing.
Iron Mountain (NYSE: IRM) has increased its quarterly dividend by 10% to $0.715 per share for the third quarter, payable on October 3, 2024, to shareholders of record on September 16, 2024. CEO William L. Meaney attributes this increase to the company's strong revenue performance and top-tier growth in Adjusted Funds from Operations (AFFO). This aligns with Iron Mountain's long-term plan to increase dividends alongside AFFO per share growth.
Iron Mountain, founded in 1951, is a global leader in information management services, serving over 240,000 customers worldwide. The company offers various services, including digital transformation, data centers, secure records storage, and asset lifecycle management, helping businesses unlock value from their stored digital and physical assets while meeting environmental goals.
Iron Mountain (NYSE: IRM) reported strong Q2 2024 results, achieving record quarterly Revenue of $1.5 billion (up 13% YoY) and Adjusted EBITDA of $544.4 million (up 14.4% YoY). The company's Net Income rose to $35 million, compared to $1 million in Q2 2023. Notably, Iron Mountain's Data Center business leased 66 megawatts in Q2, prompting an increase in the full-year projection to 130 megawatts. The company now expects to be towards the upper end of its full-year 2024 guidance range. Additionally, Iron Mountain increased its quarterly dividend by 10% to $0.715 per share, reflecting strong AFFO growth and alignment with long-term plans.
Iron Mountain (NYSE: IRM) has elected Andre Maciel to its Board of Directors, effective July 22, 2024. Maciel, currently the Global Chief Financial Officer for The Kraft Heinz Company, brings extensive experience in finance, auditing, and digital transformation. His international background, having lived in 13 countries, adds a global perspective to the board.
Maciel's career includes key roles at H.J. Heinz, AB InBev, McKinsey & Company, and Accenture. Iron Mountain's leadership expressed confidence that Maciel's financial and operational expertise will benefit the company and support its growth trajectory. His appointment is seen as strengthening the board with valuable digital transformation experience and international insights.
Iron Mountain (NYSE: IRM) will announce its Q2 2024 financial results before market hours on August 1, 2024. The company will host a conference call the same day at 8:30 AM ET to discuss the results. Earnings press release, slides, and supplemental financial information will be available on the Iron Mountain investor relations website. Investors can pre-register for the webcast and conference call, which allows them to bypass the live operator. The telephonic replay of the call will be available two hours after the call for one week.
Iron Mountain (NYSE: IRM), a global leader in information management, announced its participation in the Stifel 2024 Cross Sector Insight Conference in Boston, MA. The event is scheduled for June 4, 2024, at 10:55 am ET. Barry A. Hytinen, the Executive Vice President and Chief Financial Officer, will present at the fireside chat. The presentation will be webcast and can be accessed via the Investor Relations section on Iron Mountain's website.
Founded in 1951, Iron Mountain serves over 240,000 customers worldwide, offering services such as digital transformation, data centers, secure records storage, and more. The company is committed to helping businesses unlock value from their data while meeting environmental goals.
Iron Mountain Incorporated (NYSE: IRM) reported a strong start to 2024 with record revenue and first-quarter adjusted EBITDA. The company's total revenue reached $1.5 billion, up 12.4% from the previous year, driven by strong performance in storage rental and service revenue. Net income was $77 million, an 18% increase year over year. Iron Mountain affirmed its full-year 2024 guidance, expecting total revenue of $6-6.15 billion, adjusted EBITDA of $2.175-2.225 billion, and AFFO per share of $4.39-$4.51.
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