Iron Mountain Inc (NYSE: IRM) reported fourth-quarter financial results Wednesday before the bell. Here are the key metrics from the quarter.

Q4 Earnings Details: The company reported that the fourth quarter adjusted earnings per share was 50 cents.

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Quarterly revenue of $1.58 billion, missing the street view of $1.60 billion.

Total reported revenues (excluding the impact of foreign currency exchange) increased 11.4% compared to the prior year. This was driven by an 8.8% increase in storage rental revenue and a 17.2% increase in service revenue.

On a constant currency basis, adjusted EBITDA increased by 15.2% in the quarter Y/Y, driven by the increase in Global Records Information Management (RIM), Asset Lifecycle Management (ALM) and data center.

AFFO was $368.0 million for the quarter, compared with $327.6 million last year, an increase of 12.3% driven by improved adjusted EBITDA. AFFO per share was $1.24, higher by 12% Y/Y.

Dividend: The board declared a quarterly cash dividend of $0.785 per share, representing an increase of 10%.

CEO William L. Meaney said the company continues to execute well against its Project Matterhorn growth strategy, delivering double-digit revenue growth in the quarter with strength across each of our business segments.

2025 Outlook: Iron Mountain expects revenues of $6.65 billion–$6.80 billion versus the $6.77 billion estimate and AFFO per share of $4.85–$4.95.

Iron Mountain stock surged over 53% in the last 12 months, driven by growth in its core storage and records management business and strategic expansion into sectors like data centers.

Price Action: IRM stock is up 0.02% at $102.75 premarket at the last check on Thursday.

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