Welcome to our dedicated page for Iron Mountain news (Ticker: IRM), a resource for investors and traders seeking the latest updates and insights on Iron Mountain stock.
Iron Mountain Incorporated (NYSE: IRM) is a REIT-classified company in the real estate and rental and leasing sector that focuses on information management services, storage and related data center and digital offerings. This news page aggregates announcements and press releases in which Iron Mountain describes how it serves more than 240,000 customers in 61 countries, including approximately 95% of the Fortune 1000, through information management, digital transformation, information security, data center and asset lifecycle management services.
Investors and followers of IRM can use this feed to review company-issued updates on financial performance, capital markets activity and corporate developments. Recent communications have included quarterly earnings press releases highlighting revenue from storage rental and service revenue, non-GAAP metrics such as Adjusted EBITDA, funds from operations (FFO) and adjusted funds from operations (AFFO), as well as dividend declarations on its common stock.
The IRM news flow also covers participation in investor conferences, where company representatives discuss strategy and financial outlook, and corporate governance updates such as the election of new directors with extensive REIT and real estate finance experience. In addition, Iron Mountain has announced strategic partnerships that showcase its information management and digital capabilities, including work on digital heritage transformation using an AI-enabled digital platform and secure management of end-of-life IT assets.
By reviewing Iron Mountain news, readers can follow how the company communicates its progress in storage, data center, digital and asset lifecycle management businesses, its approach to safety, security and sustainability, and its use of capital through debt offerings and credit agreement amendments. This page provides a centralized view of IRM-related developments as disclosed in company news releases.
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.
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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.
Iron Mountain (NYSE: IRM) has finalized a joint venture with Web Werks, a leading Indian colocation data center provider, with plans to invest $150 million over two years. The partnership aims to enhance Iron Mountain's data center capabilities in India, tapping into a market with 560 million internet users. Web Werks will expand its footprint to 325,000 square feet and offer 16.5 MW of capacity. This step positions Iron Mountain to capitalize on India's growing demand for digital infrastructure.
Iron Mountain announced the signing of two leases with a major U.S. technology company at its AZP-2 data center in Phoenix, Arizona. The first lease is for a one megawatt expansion, commencing in Q3 2021, while the second lease is for five megawatts, expected to start in Q4 2021. AZP-2 offers 100% renewable energy and is designed for flexibility, with total IT capacity projected at 48 megawatts at full build-out. The Phoenix campus is expected to support over 100 megawatts of IT load, enhancing Iron Mountain's data center offerings in a low-risk area for natural disasters.
Iron Mountain (NYSE: IRM) will announce its first quarter 2021 financial results on May 6, 2021, prior to market opening. A conference call is scheduled for the same day at 8:30 A.M. ET to discuss the results. Investors can access the earnings release and related materials at approximately 6:00 A.M. ET on the company’s investor website. Pre-registration is encouraged for those wishing to join the call. Iron Mountain, founded in 1951, is a leader in storage and information management services, managing nearly 93 million square feet across 1,450 facilities in 56 countries.
Iron Mountain (NYSE: IRM) has partnered with RPD Energy and Direct Energy to enhance renewable energy purchasing solutions. This collaboration aims to track the hourly renewable energy load of Iron Mountain's data centers across Pennsylvania and New Jersey, sourcing 100% renewable energy. The initiative represents a shift from traditional models that match renewable power on a monthly or annual basis, positioning Iron Mountain at the forefront of innovative energy solutions.
Iron Mountain, a leader in storage and information management services, announced CEO William Meaney will present at Citi’s 2021 Virtual Global Property CEO Conference on March 8, 2021, at 9:45 am ET. A live webcast will be available on Iron Mountain's Investor Relations website, with a replay accessible until March 8, 2022. The company, founded in 1951, serves over 225,000 organizations globally, managing nearly 93 million square feet across 1,450 facilities in 56 countries. It provides critical solutions like secure records storage, digital transformation, and data centers.
Iron Mountain announced a joint venture with Web Werks, a leading India-based colocation data center provider, investing $150 million over two years. This venture aims to capitalize on India's growing data center market, which is expected to expand its capacity from 375 MW in mid-2020 to 1,078 MW by 2025. The collaboration will enhance Web Werks' data center operations in Mumbai, Pune, and Delhi NCR, enabling further expansion into Bangalore, Hyderabad, and Chennai. Closing of the first phase is projected within 90 days, pending customary conditions.
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