Iron Mountain Incorporated (IRM), a leading provider of information management services, announced its second-quarter financial results on Thursday. The company reported funds from operations (FFO) of $139.65 million, or $0.47 per share, significantly rising from $86.32 million, or $0.29 per share, in the same period last year.
After excluding specific items, normalized FFO increased to $231.02 million, or $0.78 per share, compared to $208.11 million, or $0.71 per share, reported a year ago.
Adjusted funds from operations (AFFO) saw growth, reaching $320.9 million, or $1.08 per share, up from $287.09 million, or $0.98 per share, in the previous year.
Revenue for the second quarter climbed 13 percent, amounting to $1.534 billion, up from $1.358 billion in the prior year.
Additionally, the Board of Iron Mountain has declared a quarterly dividend of $0.715 per share for the third quarter, marking a 10% increase. This dividend is scheduled to be paid on October 3, to shareholders recorded by September 16.
Looking ahead, the company projects AFFO per share for the full year to range between $4.39 and $4.51. Annual revenue is expected to be between $6 billion and $6.150 billion.
