Iron Mountain Inc. Earnings Cheat Sheet: Swung to a Profit

S&P 500 (NYSE:SPY) component Iron Mountain Inc. (NYSE:IRM) reported its results for the third quarter. Iron Mountain provides information protection and storage services to clients throughout the globe.

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Iron Mountain Earnings Cheat Sheet for the Third Quarter

Results: Reported a profit of $37.3 million (19 cents per diluted share) in the quarter. The business software and services company had a net loss of $153.8 million or a loss of 76 cents per share in the year earlier quarter.

Revenue: Rose 6% to $772.1 million from the year earlier quarter.

Actual vs. Wall St. Expectations: IRM reported adjusted net income of 37 cents per share. By that measure, the company beat the mean estimate of 34 cents per share. Analysts were expecting revenue of $772.4 million.

Quoting Management: “Operationally, the business continues to perform as expected. Storage revenue internal growth remains solid at 3% and our International business continues to deliver significant margin expansion,” said Richard Reese, Iron Mountain’s Chairman and Chief Executive Officer.

Key Stats:

From the second quarter, the company’s current liabilities fell to $96.6 million from $798.4 million.

The company beat estimates last quarter after being in line with expectations in the second quarter with net income of 29 cents per share.

Revenue has fallen in the past two quarters. In the second quarter, revenue declined 2.2% to $762.9 million from the year earlier quarter.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from 36 cents a share to 35 cents over the last thirty days. Over the past three months, the average estimate for the fiscal year has climbed from $1.22 per to share to $1.25.

Competitors to Watch: Equifax Inc. (NYSE:EFX), Moody’s Corporation (NYSE:MCO), FTI Consulting, Inc. (NYSE:FCN), The Dun & Bradstreet Corp. (NYSE:DNB), Volt Information Sciences, Inc. (NYSE:VOL), CTPartners Executive Search Inc (AMEX:CTP), Intersections Inc. (NASDAQ:INTX), Cintas Corporation (NASDAQ:CTAS), Towers Watson & Co (NYSE:TW), and COMFORCE Corporation (CFS).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)