Iron Mountain Stock Price, News & Analysis

Iron Mountain (NYSE: IRM) announced a 2.4 megawatt lease with a major hyperscale enterprise software provider at its WPA-1 data center in Pennsylvania. This agreement, commencing Q1 2022 and lasting ten years, adds to Iron Mountain's extensive data center portfolio. The WPA-1 facility offers over 300,000 square feet of space and operates on 100% renewable energy, featuring geothermal cooling for sustainability. The firm also recently signed a 6 megawatt lease in Virginia, highlighting increasing demand for secure, compliant data center services amidst privacy regulations.

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.