Iron Mountain Boosts FY25 Outlook; Q2 Results Miss Estimates

(RTTNews) - While reporting financial results for the second quarter on Wednesday, Iron Mountain Inc. (IRM) raised its adjusted funds from operations or AFFO, and revenue guidance for the prior full-year 2025, driven by strong operational outperformance.

For fiscal 2025, the company now projects AFFO in a range of $5.04 to $5.13 per share on total revenues between $6.79 billion and $6.94 billion. Previously, the company expected adjusted funds from operations or AFFO, in a range of $4.95 to $5.05 per share on total revenues between $6.74 billion and $6.89 billion.

On average, analysts polled expect the company to report earnings of $2.03 per share on revenues of $6.79 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported a net loss attributable to the company of $44.92 million or $0.15 per share, compared to net income of $35.78 million or $0.12 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $0.48 per share, compared to $0.42 per share in the year-ago quarter.

Normalized funds from operations or FFO, was $0.87 per share, compared to $0.78 per share last year. AFFO for the quarter was $1.24 per share, compared to $1.08 per share a year ago.

Total revenue for the quarter grew 11.6 percent to $1.71 billion from $1.59 billion in the same quarter last year. Revenue increased 11.0 percent in constant currency.

The Street was looking for earnings of $0.54 per share on revenues of $1.75 billion for the quarter.

Iron Mountain's board of directors also declared a quarterly cash dividend of $0.785 per share for the fourth quarter, payable on payable on payable on October 3, 2025, to shareholders of record at the close of business on September 15, 2025.

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