Iron Mountain Eyes Digital Expansion
Iron Mountain reported record revenue, though it fell short of expectations, highlighting both growth and challenges in its strategic transition.
Iron Mountain (NYSE:IRM), a leader in records management and data protection, revealed its fourth quarter results for 2024 on February 13.
The earnings release highlighted a record revenue of $1.58 billion, an 11.3% increase from the previous year. Despite this growth, it missed Wall Street's fourth-quarter revenue estimates of $1.6 billion. The company's Adjusted Earnings Per Share (EPS) were $0.50, also falling short of expectations of $0.53, partly due to higher operational costs.
Overall, the quarter reflected robust topline growth but revealed challenges in meeting market expectations amid strategic changes.
