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• | Total reported Revenues for the third quarter were $1,061 million in 2018, compared with $966 million in 2017. On a constant dollar (C$) basis, Total Revenues grew 12.4% compared to the prior year, reflecting a full quarter of results from recent data center acquisitions not included in the 2017 period. Year to date, Total reported Revenues were $3.16 billion, compared with $2.85 billion in 2017, an increase of 10.4% on a C$ basis. |
• | Income from Continuing Operations for the third quarter was $79 million, compared with $25 million in the third quarter of 2017. Income from Continuing Operations included $9 million of significant acquisition costs in the third quarter of 2018, compared with $18 million in the third quarter of 2017. Year to date, Income from Continuing Operations was $218 million, compared with $167 million in 2017, with significant acquisition costs of $39 million in 2018 and $59 million in 2017. For the third quarter of 2017, Income from Continuing Operations also included $48 million of debt extinguishment charges associated with U.S. and Canadian debt refinancing activity. |
• | On a reported dollar basis, Adjusted EBITDA for the third quarter was $364 million, compared with $323 million in 2017. On a C$ basis, Adjusted EBITDA increased by 14.8% reflecting the data center acquisitions noted above, flow through from revenue management programs, improvement in Service margins, and cost synergies resulting from the Recall acquisition. Year to date, Adjusted EBITDA was $1.08 billion, compared with $934 million in 2017, an increase of 14.5% on a C$ basis. |
• | Reported EPS - Fully Diluted from Continuing Operations for the third quarter was $0.27 compared with $0.10 for the third quarter of 2017. Year to date, Reported EPS - Fully Diluted from Continuing Operations was $0.76 compared with $0.62 in 2017. Reported EPS in 2018 was impacted by increased interest, depreciation and amortization expense related to the recent data center acquisitions, while reported EPS in 2017 included the debt extinguishment charge noted above as well as a gain on sale of the company’s business in Russia and Ukraine. |
• | Adjusted EPS for the third quarter was $0.28, compared with $0.31 in 2017. Adjusted EPS for the third quarter of 2018 reflects a structural tax rate of 20.3%, compared with a structural tax rate of 21.5% in 2017. Year to date, Adjusted EPS was $0.83, compared with $0.85 in 2017. |
• | Net Income for the third quarter was $67 million compared with $24 million in 2017, reflecting impacts from the data center acquisitions noted above. Year to date, Net Income was $206 million compared with $164 million in 2017. |
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See Non-GAAP Measures Adjusted EBITDA in this Quarterly Report for the definitions of Adjusted EBITDA and Adjusted EBITDA Margin, a reconciliation of Adjusted EBITDA to Income Loss from Continuing Operations and a discussion of why we believe these non-GAAP measures provide relevant and useful information to our current and potential investors.
See Non-GAAP Measures Adjusted EBITDA in this Quarterly Report for the definitions of Adjusted EBITDA and Adjusted EBITDA Margin, a reconciliation of Adjusted EBITDA to Income Loss from Continuing Operations and a discussion of why we believe these non-GAAP measures provide relevant and useful information to our current and potential investors.
See Non-GAAP Measures Adjusted EBITDA in this Quarterly Report for the definitions of Adjusted EBITDA and Adjusted EBITDA Margin, a reconciliation of Adjusted EBITDA to Income Loss from Continuing Operations and a discussion of why we believe these non-GAAP measures provide relevant and useful information to our current and potential investors.
See Non-GAAP Measures Adjusted EBITDA in this Quarterly Report for the definitions of Adjusted EBITDA and Adjusted EBITDA Margin, a reconciliation of Adjusted EBITDA to Income Loss from Continuing Operations and a discussion of why we believe these non-GAAP measures provide relevant and useful information to our current and potential investors.
See Non-GAAP Measures Adjusted EBITDA in this Quarterly Report for the definitions of Adjusted EBITDA and Adjusted EBITDA Margin, a reconciliation of Adjusted EBITDA to Income Loss from Continuing Operations and a discussion of why we believe these non-GAAP measures provide relevant and useful information to our current and potential investors.
See Non-GAAP Measures Adjusted EBITDA...Read more
See Non-GAAP Measures Adjusted EBITDA...Read more
Represents capital expenditures that support...Read more
Includes depreciation expense related to...Read more
In the three and nine...Read more
The recent increase in internal...Read more
In the nine months ended...Read more
Internal storage rental revenue growth...Read more
Service revenues include charges for...Read more
In the three and nine...Read more
This amount consists of operating...Read more
We believe Adjusted EBITDA and...Read more
The negative internal revenue growth...Read more
On a constant dollar basis,...Read more
On May 25, 2018, in...Read more
Additionally, the internal growth rate...Read more
For the nine months ended...Read more
Pursuant to the Underwriting Agreement,...Read more
During the nine months ended...Read more
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Adjusted EPS is defined as...Read more
The aggregate net proceeds of...Read more
For the nine months ended...Read more
In North America, internal storage...Read more
Adjusted EBITDA is defined as...Read more
Adjusted EBITDA margin increased 190...Read more
For the nine months ended...Read more
The net impact of acquisitionsdivestitures...Read more
The impact of acquisitionsdivestitures, net...Read more
The net impact of acquisitions...Read more
The net impact of acquisitionsdivestitures...Read more
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For the nine months ended...Read more
The net proceeds associated with...Read more
Foreign currency exchange rate fluctuations...Read more
The net impact of acquisitionsdivestitures...Read more
Adjusted EBITDA excludes both interest...Read more
The primary reconciling items between...Read more
The primary reconciling items between...Read more
The decrease in labor expenses...Read more
We believe Adjusted EPS is...Read more
During the nine months ended...Read more
We acquired customer relationships, customer...Read more
Cost of sales excluding depreciation...Read more
The principal components of depreciation...Read more
The initial net proceeds received...Read more
In the second quarter of...Read more
Segment Adjusted EBITDA1 as a...Read more
Segment Adjusted EBITDA1 as a...Read more
Internal revenue growth was 5.5%,...Read more
For the nine months ended...Read more
Adjusted EBITDA in the Corporate...Read more
We expect to meet our...Read more
Our business requires capital expenditures...Read more
Foreign currency exchange rate fluctuations...Read more
Foreign currency exchange rate fluctuations...Read more
Our internal service revenue growth...Read more
The net proceeds to us...Read more
Net proceeds of $8.7 million...Read more
The following table is a...Read more
The primary factors that impacted...Read more
Our internal storage rental revenue...Read more
The decrease in sales, marketing...Read more
As a result of the...Read more
We expect our consolidated internal...Read more
Net proceeds of $333.6 million...Read more
Net proceeds of $182.4 million...Read more
We expect our Adjusted EBITDA...Read more
These losses were partially offset...Read more
These losses were partially offset...Read more
Adjusted EBITDA margin of 29.7%...Read more
On October 25, 2018, we...Read more
For the reasons stated above,...Read more
In addition, important factors that...Read more
Consolidated internal revenue growth was...Read more
Our internal revenue growth rate...Read more
Of these, wages and benefits...Read more
Sales, marketing and account management...Read more
At various points in the...Read more
Adjusted EBITDA margin decreased 70...Read more
On a constant dollar basis,...Read more
Amortization relates primarily to customer...Read more
During the past eight quarters,...Read more
In addition, the overhead structure...Read more
Selling, general and administrative expenses...Read more
On a constant dollar basis,...Read more
Our effective tax rates for...Read more
Our effective tax rates for...Read more
Consolidated interest expense, net increased...Read more
On a constant dollar basis,...Read more
On a constant dollar basis,...Read more
On a constant dollar basis,...Read more
Impairment of Tangible and Intangible...Read more
The following table reflects the...Read more
Our internal revenue growth rate,...Read more
Amortization expense increased $57.8 million,...Read more
Internal revenue growth was 1.6%,...Read more
The impact of acquisitions contributed...Read more
Internal revenue growth of 4.3%...Read more
Financial Statements, Disclosures and Schedules
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Iron Mountain Inc provided additional information to their SEC Filing as exhibits
Ticker: IRM
CIK: 1020569
Form Type: 10-Q Quarterly Report
Accession Number: 0001020569-18-000118
Submitted to the SEC: Thu Oct 25 2018 4:10:28 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Real Estate Investment Trusts