Iron Mountain Guides FY Revenue $7.94B-$8.01B, Above Consensus
IRM sits 60% above its 52-week low of $77.77.
Summary
Iron Mountain issued FY revenue guidance of $7.94B-$8.01B, above the $7.87B consensus. The midpoint of $7.975B implies roughly 7% growth over the prior year's $7.45B. The company also provided a 3Q revenue outlook of $1.98B. This follows a $1.5B debt raise in June to strengthen the balance sheet for expansion. The guidance offers a concrete top-line target for the first time this fiscal year.
At the time of this announcement, IRM was trading at $124.10 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $37.3B. The 52-week trading range was $77.77 to $134.68. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.