Iron Mountain Reports A Loss From Cont. Ops. In Q2 On Recall Costs - Quick Facts

(RTTNews) - Iron Mountain (IRM) reported a loss from continuing operations for the second quarter of $15 million, compared with income of $54 million in 2015. Income from continuing operations in the second quarter of 2016 included $50 million of Recall costs. FFO (Normalized) per share was $0.47 for the second quarter compared with $0.49 in 2015. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.57 for the quarter. Analysts' estimates typically exclude special items.

Total reported revenues for the second quarter were $884 million, compared with $760 million in 2015. Analysts expected revenue of $884.46 million, for the quarter. On a constant dollar (C$) basis, total revenue growth was 18.6% for the quarter, primarily driven by partial quarter benefit from the Recall acquisition.

For 2016, Iron Mountain tightened its constant dollar adjusted OIBDA guidance, and updated FFO (Normalized) per share to reflect weighted average share count for the full year. The company expects: FFO (Normalized) per share in the range of $2.15 - $2.25; and revenue in the range of $3.45 to $3.55 billion. Analysts expect the company to report profit per share of $2.25 on revenue of $3.50 billion.