Candorium Free Members
Join Candorium to access the full article and more
Free Member Benefits:
✔
Comment & Reply✔
Newsletter Access✔
Follow Authors✔
Share via SMS Go Back
Iron Mountain: Q1 Earnings Snapshot
By AP News - May 04, 2023, 06:54 AM ET
Last Updated - Jun 21, 2023, 10:58 PM EDT
PORTSMOUTH, N.H. (AP) — PORTSMOUTH, N.H. (AP) — Iron Mountain Inc. (IRM) on Thursday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.
The Portsmouth, New Hampshire-based real estate investment trust said it had funds from operations of $284 million, or 97 cents per share, in the period.
Sponsored
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 93 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $64.6 million, or 22 cents per share.
The real estate investment trust, based in Portsmouth, New Hampshire, posted revenue of $1.31 billion in the period, which matched Street forecasts.
Iron Mountain expects full-year funds from operations in the range of $3.91 to $4 per share, with revenue in the range of $5.5 billion to $5.6 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a IRM">Zacks stock report on IRM at https://www.zacks.com/ap/IRM
Sponsored
Read More from Investing
Popular News
Latest News
