Data storage provider Iron Mountain falls on third-quarter revenue miss

Iron Mountain

02/11/2023 14:26

** Shares of data storage provider Iron Mountain  IRM.N 
fall 1.4% to $58.8 after the co reports third-quarter results
    ** Co reports Q3 revenue of $1.39 bln, compared with
estimates of $1.41 bln, according to LSEG
    ** Adjusted Q3 profit falls to 45 cents/shr from 48
cents/shr a year earlier
    ** Co announces that it will buy electronic recycling
company Regency Technologies for an initial purchase price of
$200 mln, with $125 mln to be paid when the deal closes and the
remainder in 2025
    ** IRM looks to improve its IT asset remarketing and
recycling space with the acquisition
    ** As of last close, IRM shares up 19.7% this year

 (Reporting by Harshita Mary Varghese in Bengaluru)
 ((HarshitaMary.Varghese@thomsonreuters.com))