Iron Mountain Inc. - IRM STOCK NEWS

Clutter and MakeSpace are merging to form a national moving and storage company under the Clutter brand. This consolidation enables them to serve over 6,500 towns in the U.S., reaching 60% of Americans. Clutter, which has raised $200M from investors like SoftBank, will benefit from MakeSpace's operational expertise and broader geographical access. Iron Mountain, a current investor in MakeSpace, will maintain a strategic partnership, enhancing Clutter's capabilities, and potentially positioning it for an IPO.

Iron Mountain (IRM) reports impressive financial results for Q4 and full year 2021, achieving record revenues and profitability amidst ongoing pandemic challenges. Q4 total revenue reached $1.16 billion, a 9% increase YoY, while full-year revenue rose to $4.49 billion, up 8%. Net income for the full year surged 32% to $453 million, with an Adjusted EBITDA of $1.64 billion, indicating strong operational performance. The company announced 2022 guidance, projecting a 14-17% increase in total revenue and 10-13% rise in Adjusted EBITDA, reflecting confidence in continued growth.

Iron Mountain has joined the Climate Group’s EV100 initiative to electrify its global fleet in line with its Net Zero Carbon emissions goal by 2040. The company plans to transition 100% of its company cars and 50% of its vans to electric vehicles (EV) by 2030, starting with 10% by 2025. Iron Mountain has already reduced its greenhouse gas emissions by 60% since 2016 and aims to add 25 new EV vans across the UK, Germany, the Netherlands, and North America.

Iron Mountain Incorporated (NYSE: IRM) will report its Q4 2021 and full year 2021 financial results on February 24, 2022, before market opening. A conference call will follow at 8:30 A.M. ET on the same day. Investors can pre-register for the call to receive a unique PIN for immediate access. Earnings release and additional financial documents will be available on their investor relations website. Iron Mountain, a leader in information management services, helps businesses manage data securely and efficiently.

Iron Mountain has finalized its acquisition of ITRenew, securing 80% of shares for approximately $725 million in cash.

This strategic move positions Iron Mountain to enhance its Global IT Asset Lifecycle Management and expand its reach in the hyperscale and corporate data center markets. The remaining 20% is priced at a minimum enterprise value of $925 million and will be acquired within three years. This acquisition aims to bolster Iron Mountain’s capabilities in delivering innovative circular economic models that promote financial and sustainability benefits.

Iron Mountain has partnered with ClearTrace to enhance its carbon accounting efforts across its U.S. data centers. This collaboration aims to achieve 24/7 renewable energy consumption and provide real-time energy and carbon analysis. Following a successful pilot program, Iron Mountain plans to utilize ClearTrace's technology to effectively monitor and enhance their sustainability efforts. This move aligns them with industry leaders like Google and Microsoft, promoting a new standard in decarbonization strategies.

Iron Mountain (NYSE: IRM) has announced the tax treatment for its 2021 common stock distributions. Key financial figures include a total distribution of $2.474 per share, with ordinary taxable dividends at $1.6542 and qualified taxable dividends at $0.5394. Shareholders who held common stock during the year will receive an IRS Form 1099-DIV for accurate tax reporting. The company emphasizes that tax implications may vary by state and locality and advises shareholders to consult with tax professionals regarding their returns.

Iron Mountain (NYSE: IRM) has appointed Gillian Tiltman as Senior Vice President and Head of Investor Relations, effective immediately. Tiltman will oversee the company's investor relations strategy, engaging with the investment community and shaping Iron Mountain's investment narrative. Chief Financial Officer Barry Hytinen expressed confidence in Tiltman’s capabilities, highlighting her experience as a portfolio manager. Tiltman previously worked for Neuberger Berman and holds a degree from Princeton University, signaling a strong leadership shift aimed at enhancing shareholder value.

Iron Mountain Information Management Services, a subsidiary of Iron Mountain Incorporated (NYSE: IRM), has announced a private placement offering of $750 million in 5.000% Senior Notes due 2032, surpassing the initial target of $500 million. The proceeds will finance the acquisition of ITRenew and cover related costs, along with repaying some revolving credit facility borrowings. The Notes will be guaranteed by the Company and its other subsidiaries, and will not be registered under the Securities Act, limited to qualified institutional buyers and non-U.S. persons.