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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, the leader in storage and information management, reported strong financial results for Q2 2021. Total revenue reached $1.12 billion, a 14% increase from Q2 2020, driven largely by a 32% rise in service revenue. Net income surged to $276.5 million, compared to a loss of $7.1 million a year prior. Adjusted EBITDA increased by 13% to $405.6 million. The company raised its full-year revenue guidance to between $4.415 billion and $4.515 billion, reflecting robust demand across key markets. A quarterly dividend of $0.6185 per share was also declared.
Iron Mountain (NYSE: IRM) will announce its Q2 2021 financial results before market hours on August 5, 2021. A conference call to discuss the results is scheduled for 8:30 A.M. ET on the same day. Investors can access earnings materials and the live webcast via the investor relations page starting at 6:00 A.M. ET. This call provides an opportunity for stakeholders to engage with the company's results.
Iron Mountain announced an agreement to acquire a Zurich data center from Calcium DC Pte. Ltd. for EUR 76 million. The facility spans 20,000 square meters and offers 2.6 megawatts of leased capacity, with 8 megawatts available to retail colocation customers. Closing is expected within 90 days, pending conditions. This acquisition enhances Iron Mountain's presence in Frankfurt, where demand for data center services is strong. Key features include Uptime Tier III-equivalent specifications, robust connectivity, and significant expansion potential.
Iron Mountain (NYSE: IRM) has successfully sold five facilities to Intermediate Capital Group for approximately $178 million. This sale-leaseback transaction, spanning 550,000 square feet in the greater London area, allows Iron Mountain to maintain control of these properties under a twelve-year lease, with potential extensions up to 20 years. The proceeds will be reinvested in high-growth areas, notably in its data center business. The CFO highlighted the transaction's strategic fit within their capital recycling program, projecting nearly $140 million available for future investments.
Iron Mountain announced its participation in two upcoming investor conferences:
Stifel 2021 Virtual Cross Sector Insight Conference on June 8 at 1:20 pm ET and the 2021 Nareit REITweek Virtual Investor Conference on June 9 at 10:15 am ET. President & CEO William L. Meaney will present at both events. Interested parties can access the webcasts via Iron Mountain's Investor Relations page. The company's portfolio includes innovative storage and information management services, aimed at protecting valuable assets for over 225,000 customers globally.
Iron Mountain announced the construction of a new 27 megawatt data center in Slough, London, marking an expansion of its data center footprint. This facility will be powered entirely by renewable energy and is designed to meet high standards of environmental sustainability. The data center will feature carrier-neutral connectivity, supporting diverse enterprise needs. Additionally, Iron Mountain expanded the LON-1 data center by adding 4 megawatts of capacity, bringing its total to 9.1 megawatts. These developments aim to cater to the rising demand for secure, scalable colocation services in the European market.
Iron Mountain (NYSE: IRM), a leader in storage and information management, has announced its participation in two upcoming investor conferences. Barry Hytinen, EVP & CFO, will present at the Berenberg USA Conference on May 19 at 1:00 PM ET. Mark Kidd, EVP & GM of Iron Mountain Data Centers, will present at the RBC Capital Markets Conference on May 25 at 8:00 AM ET. Both presentations will be accessible via webcast on the company’s Investor Relations page, with replays available for a limited time.
Iron Mountain (NYSE: IRM) has announced the sale of its Intellectual Property Management (IPM) business to NCC Group for gross proceeds of $220 million, netting approximately $165 million after taxes and fees. The divestiture aligns with Iron Mountain's strategy to focus on core strengths and invest in new growth areas, including data center development. For the year ending December 31, 2020, IPM generated revenue of $33 million and Adjusted EBITDA of $22 million. The transaction is expected to close in early June 2021, subject to NCC shareholder approval.
Iron Mountain (NYSE: IRM) reported strong Q1 2021 results, achieving a record quarterly revenue of $1.08 billion, up 1.2% YoY. Despite a 4.8% decline in service revenue, organic growth in new areas offset losses. Adjusted EBITDA rose 4% to $380.6 million, with a 100 basis point margin expansion, benefitting from Project Summit initiatives. However, net income fell 28% to $46.6 million due to restructuring charges. The company also increased its 2021 financial guidance, projecting total revenue between $4.365 - $4.515 billion.
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