Iron Mountain Maintains FY18 Outlook - Quick Facts

(RTTNews) - Iron Mountain Inc. (IRM) on Friday reaffirmed its adjusted earnings guidance for the full-year 2018 in the range of $1.00 to $1.20, and revenues between $4.16 billion and $4.26 billion, both on a constant dollar basis.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.06 per share on revenues of $4.21 billion for the year. Analysts' estimates typically exclude special items.

On a constant dollar basis, the company maintained its fiscal 2018 adjusted EBITDA growth outlook of 12 to 16 percent and AFFO growth forecast of 5 to 13 percent.

Looking ahead, the company projects AFFO compound annual growth rate (CAGR) to be 11.2 percent to reach a range of $1.0 billion to $1.07 billion and worldwide revenue at a CAGR of more than 6.7 percent to reach between $4.6 billion and $4.75 billion in the year 2020.

The company also expects adjusted EBITDA CAGR of more than 10.9 percent to reach a range of $1.68 billion to $1.76 billion and minimum dividend per share CAGR of 4.0 percent to reach $2.54 in the year 2020.

For the second quarter, net income increased to $93.54 million or $0.33 per share from $83 million or $0.30 per share in the prior-year quarter. Adjusted earnings per share were $0.30.

FFO (Normalized) per share was $0.56, compared to last year's $0.55. AFFO was $229.77 million, compared to $217.08 million last year.

Total revenues for the quarter grew 11.7 percent to $1.06 billion from last year's $950 million. On a constant dollar basis, total revenues grew 10.8 percent.

Analysts expected quarterly earnings of $0.25 per share on sales of $1.04 billion.