While reporting financial results for the third quarter on Wednesday, Iron Mountain Inc. (IRM) provided its adjusted funds from operations or AFFO, and revenue guidance for the fourth quarter, and maintained its outlook for the full-year 2025.
For the fourth quarter, the company expects AFFO of about $1.39 per share on total revenues of about $1.80 billion.
On average, analysts polled expect the company to report earnings of $0.60 per share on revenues of $1.81 billion for the quarter. Analysts' estimates typically exclude special items.
For fiscal 2025, the company continues to project AFFO in a range of $5.04 to $5.13 per share on total revenues between $6.79 billion and $6.94 billion. Analysts expect earnings of $2.04 per share on revenues of $6.87 billion for the year. For the third quarter, the company reported net income attributable to the company of $84.29 million or $0.28 per share, compared to a net loss of $33.62 million or $0.11 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $0.54 per share, compared to $0.44 per share in the year-ago quarter.
Normalized funds from operations or FFO, was $0.93 per share, compared to $0.79 per share last year. AFFO for the quarter was $1.32 per share, compared to $1.13 per share a year ago.
Total revenue for the quarter grew 12.6 percent to a record of $1.75 billion from $1.56 billion in the same quarter last year. Revenue increased 11.8 percent in constant currency.
The Street was looking for earnings of $0.53 per share on revenues of $1.75 billion for the quarter.
Iron Mountain's board of directors also declared a 10% higher quarterly cash dividend of $0.864 per share of common stock for the fourth quarter, payable on January 6, 2026 to shareholders of record at the close of business on December 15, 2025.
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