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Iron Mountain Q2 revenues rise to $1.07B; FFO falls YOY

Iron Mountain Inc. said its second-quarter revenues reached $1.07 billion, compared with $1.06 billion in the prior-year period.

Net income totaled $92.4 million, or 32 cents per share, compared with $91.8 million, or 32 cents per share, in the year-earlier period.

Income from continuing operations remained flat at $92.3 million, and adjusted EBITDA fell year over year to $350.9 million from $367.6 million.

Adjusted funds from operations fell to $209.6 million from $228.1 million in the comparable period.

Fully diluted EPS from continuing operations stayed the course at 32 cents year over year, while adjusted EPS decreased to 23 cents from 30 cents.

FFO per share was 54 cents for the quarter, compared with 58 cents in the year-ago period.

The S&P Market Intelligence consensus FFO per share estimate for the second quarter was 50 cents.

The company expects AFFO in the range of $870 million to $900 million for the full year, compared with previous guidance in the range of $870 million to $930 million.