Why Iron Mountain Stock Plummeted by Over 7% on Thursday
Iron Mountain (NYSE: IRM) didn't quite end its 2024 on a high note, at least as far as its fundamentals were concerned. Thursday morning, the company released its fourth-quarter and full-year 2024 results, and investors weren't all that pleased with them. They sold out of the company fairly aggressively, leaving its share price with a more than 7% loss on the day.Iron Mountain, which specializes in the handling of documents and records, booked revenue of $1.58 billion for the quarter. This not only represented an 11% year-over-year increase, but it notched a new all-time quarterly record for the company. As for the bottom line, Iron Mountain flipped to a net profit of nearly $106 million from the year-ago deficit of almost $34 million. In non-GAAP (adjusted) and per-share terms, the company netted $0.50. Continue reading
Iron Mountain (NYSE: IRM) didn't quite end its 2024 on a high note, at least as far as its fundamentals were concerned. Thursday morning, the company released its fourth-quarter and full-year 2024 results, and investors weren't all that pleased with them. They sold out of the company fairly aggressively, leaving its share price with a more than 7% loss on the day.
Iron Mountain, which specializes in the handling of documents and records, booked revenue of $1.58 billion for the quarter. This not only represented an 11% year-over-year increase, but it notched a new all-time quarterly record for the company.
As for the bottom line, Iron Mountain flipped to a net profit of nearly $106 million from the year-ago deficit of almost $34 million. In non-GAAP (adjusted) and per-share terms, the company netted $0.50.
