No Surprises in Iron Mountain’s 3Q Results; Maintaining FVE
Nothing in Iron Mountain’s results fundamentally alters our long-term view of the firm. The company posted a solid third quarter, with total quarterly revenue rising 2.4% year over year. On a year-to-date basis, the company’s top line rose 10.8% from last year. Adjusted EBITDA rose by 9.8% from last year’s third quarter, slightly ahead of our run-rate expectations. The company’s adjusted EBITDA margin rose by 230 basis points from last year’s third quarter to 33.5%, reflecting some cost synergie...Iron Mountain is a holding company. Through its subsidiaries, the company stores physical records and data backup media, providing information management solutions, and providing data center space for colocation and hyperscale deployments. The company's segments are: Global Records and Information Management Business, which provides records management, data management, information governance and digital solutions, secure shredding, and consumer storage; Global Data Center Business, which provides data center facilities; and Corporate and Other Business, which provides entertainment and media that helps industry clients store, safeguard and deliver physical media of various types.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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