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Iron Mountain's Q4'17 revenues climb 4.1% YOY

Iron Mountain Inc. reported total revenues for the fourth quarter of 2017 of $991 million, up 4.1% on a constant dollar basis from $934 million in the same period in 2016.

For the full year 2017, total revenues came in at $3.85 billion, compared to $3.51 billion in the year-ago period, an increase of 9.0% on a constant dollar basis, reflecting the impact of the acquisition of Recall Holdings in May 2016.

Normalized funds from operations for the fourth quarter were 53 cents per share, compared to 50 cents per share in the fourth quarter of 2016. For the full year, normalized FFO amounted to $2.13 per share compared to $1.98 per share in 2016.

Adjusted funds from operations totaled $154 million during the fourth quarter, compared to $170 million in the prior-year period, while full-year 2017 AFFO was up 12% year over year to $752 million.

The S&P Capital IQ consensus FFO-per-share estimates for the fourth quarter and full year 2017 were 58 cents and $2.14, respectively.