WASHINGTON (dpa-AFX) - Iron Mountain Inc. (IRM), an information management services company, on Thursday announced that its net income increased in the first quarter compared with the previous year.
For the first quarter, FFO climbed to $229.7 million from $219.78 million in the previous year.
FFO per share was $0.77 versus $0.74 in the prior year. AFFO increased 8% to $348 million from $324 million last year.
AFFO per share was $1.17 versus $1.10 last year.
Net income increased 78.9% to $16.23 million from $77.03 million in the prior year.
Earnings per share were $0.05 versus $0.25 last year.
On an adjusted basis, earnings per share align with last year's $0.43.
Six Analysts, on average, had expected the company to report $0.4 per share. Analysts' estimates typically exclude special items.
Revenue increased to $1.59 million from $1.48 million last year.
On May 1, Iron Mountain's Board of Directors announced a cash dividend of $0.785 per share for the second quarter. The dividend will be paid on July 3 to shareholders who are on record as of June 16.
Looking ahead to the full year 2025, the company expects revenue to range between $6,740 and $6,890 million, with approximately 11% on a year-over-year change at Midpoint.
The company expects adjusted EBITDA in a range between $2,505 and $2,555 million, with approximately 13% on a year-over-year change at the Midpoint.
For the full year 2025, the company anticipates AFFO to range between $1,480 and $1,510 million, while AFFO per share is expected to range between $4.95 and $5.05, with approximately 11% on year-over-year change at Midpoint.
In the pre-market trading, Iron Mountain is 0.03% lesser at $89.64 on the New York Stock Exchange.
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