Iron Mountain Inc. reported fourth-quarter FY21 revenue growth of 9 percent year-on-year to $1.16 billion, beating the consensus of $1.15 billion.
Storage Rental Revenue grew 4 percent Y/Y to $725 million. Service Revenue rose 20 percent Y/Y to $434 million.
The adjusted EBITDA margin expanded 180 bps to 37.1 percent.
Adjusted EPS of $0.43 beat the consensus of $0.40. Adjusted FFO per share improved from $0.66 a year ago to $0.92.
Iron Mountain held $255.8 million in cash and equivalents.
The board declared a quarterly cash dividend of $0.6185 per share for Q1 FY22, payable on April 6, 2022, for shareholders of record on March 15, 2022.
OutlookIron Mountain sees FY22 revenue of $5.125 billion–$5.275 billion, above the consensus of $4.74 billion.
It sees an adjusted FFO per share of $3.70–$3.82.