Iron Mountain: Q2 Earnings Snapshot
By AP News
Published - Aug 01, 2024, 10:16 AM ET
Last Updated - Aug 01, 2024, 10:16 AM EDT
PORTSMOUTH, N.H. (AP) — PORTSMOUTH, N.H. (AP) — Iron Mountain Inc. (IRM) on Thursday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Portsmouth, New Hampshire, said it had funds from operations of $320.9 million, or $1.08 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.06 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.
