BOSTON--(BUSINESS WIRE)--
Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, is hosting an Investor Day today in New York City. This gathering of company management, investors and securities analysts will feature management presentations related to the company’s strategic plan and financial outlook by William L. Meaney, president and chief executive officer, and members of the senior executive team. During the presentation, the company will report progress related to its strategic plan and current initiatives.
The company reiterated its expectation for sustained growth in ordinary dividends per share. Amounts presented below represent the projected minimum dividend per share to be declared in the respective periods. The amount and timing of any future dividends will continue to be subject to the approval of the company’s Board of Directors, in its sole discretion, to applicable legal requirements and the factors impacting our financial outlook.
|
2017 |
2018 |
2019 |
2020 |
||||||||||||||
|
Ordinary Annual Div./Share Outlook |
$2.20 | $2.35 | $2.44 | $2.54 | |||||||||||||
The company’s outlook for full-year 2017 remains consistent with Constant Dollar (C$) guidance ranges provided on February 23, 2017 as noted below.
The company reiterates the following fiscal year 2017 guidance:
|
$ in million except per share data |
FY 2017 Outlook |
||||||
|
C$ |
C$ Growth |
||||||
|
Revenues |
$3,750 - $3,840 | 8% - 10% | |||||
|
Adj. EBITDA |
$1,250 - $1,280 | 16% - 19% | |||||
|
Adj. EPS |
$1.15 - $1.25 | 8% - 18% | |||||
|
AFFO |
$715 - $760 | 8% - 15% | |||||
The company will be Webcasting its Investor Day presentation live, and the link is available HERE, or from investors.ironmountain.com under “Events and Presentations.” The presentation will also be posted to the website and available for viewing at the conclusion of the event HERE.
About Iron Mountain
Iron Mountain Incorporated (NYSE:
IRM) is the global leader for storage and information management
services. Trusted by more than 230,000 organizations around the world,
Iron Mountain boasts a real estate network of more than 85 million
square feet across more than 1,400 facilities in 46 countries dedicated
to protecting and preserving what matters most for its customers. Iron
Mountain’s solutions portfolio includes records
management, data
management, document
management, data
centers, art
storage and logistics, and secure
shredding help organizations to lower storage costs, comply with
regulations, recover from disaster, and better use their information.
Founded in 1951, Iron Mountain stores and protects billions of
information assets, including critical business documents, electronic
information, medical data and cultural and historical artifacts. Visit www.ironmountain.com
for more information.
Forward Looking Statements [to be conformed with presentation
This
press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
other securities laws and is subject to the safe-harbor created by such
Act. Forward-looking statements include, but are not limited to, our
financial performance outlook and statements concerning our operations,
economic performance, financial condition, goals, beliefs, future growth
strategies, investment objectives plans and current expectations, such
as 2017 guidance, 2020 outlook, expected shareholder returns and cash
available for distribution, the expected total cost to integrate Recall
Holdings Limited (“Recall”) with our company and expected synergies from
the acquisition, strategic goals, impact and expected cost savings
associated with the Transformation Initiative. These forward-looking
statements are subject to various known and unknown risks, uncertainties
and other factors. When we use words such as "believes," "expects,"
"anticipates," "estimates" or similar expressions, we are making
forward-looking statements. You should not rely upon forward-looking
statements except as statements of our present intentions and of our
present expectations, which may or may not occur. Although we believe
that our forward-looking statements are based on reasonable assumptions,
our expected results may not be achieved, and actual results may differ
materially from our expectations. Important factors that could cause
actual results to differ from our other expectations include, among
others: (i) our expected dividends may be materially different than our
estimates (ii) our ability to remain qualified for taxation as a real
estate investment trust for U.S. federal income tax purposes; (iii) the
adoption of alternative technologies and shifts by our customers to
storage of data through non-paper based technologies; (iv) changes in
customer preferences and demand for our storage and information
management services; (v) the cost to comply with current and future
laws, regulations and customer demands relating to data security,
privacy issues, as well as fire and safety standards; (vi) the impact of
litigation or disputes that may arise in connection with incidents in
which we fail to protect our customers' information; (vii) changes in
the price for our storage and information management services relative
to the cost of providing such storage and information management
services; (viii) changes in the political and economic environments in
the countries in which our international subsidiaries operate and
changes in the global political climate; (ix) our ability or inability
to complete acquisitions on satisfactory terms and to integrate acquired
companies efficiently; (x) changes in the amount of our capital
expenditures; (xi) changes in the cost of our debt; (xii) the impact of
alternative, more attractive investments on dividends; (xiii) the cost
or potential liabilities associated with real estate necessary for our
business; (xiv) the performance of business partners upon whom we depend
for technical assistance or management expertise outside the United
States; (xv) other trends in competitive or economic conditions
affecting our financial condition or results of operations not presently
contemplated; and (xvi) other risks described more fully in our filings
with the Securities and Exchange Commission, including under the caption
“Risk Factors” in our periodic reports including our Annual Report on
Form 10-K for the fiscal year ending December 31, 2016. Except as
required by law, we undertake no obligation to release publicly the
result of any revision to these forward-looking statements that may be
made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
Reconciliation of Non-GAAP Measures:
We do not
provide a reconciliation of non-GAAP measures that it discusses as part
of its annual guidance or long term outlook because certain significant
information required for such reconciliation is not available without
unreasonable efforts or at all, including, most notably, the impact of
exchange rates on Iron Mountain’s transactions, loss or gain related to
the disposition property, plant and equipment (including of real estate)
and other income or expense. Without this information, we do not believe
that a reconciliation would be meaningful.
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