Iron Mountain Incorporated (NYSE:IRM) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET

Company Participants

Gillian Tiltman - SVP and Head, IR
William Meaney - President and CEO
Barry Hytinen - EVP and CFO

Conference Call Participants

George Tong - Goldman Sachs
Kevin McVeigh - UBS
Nate Crossett - BNP
Alexander Hess - JPMorgan
Eric Luebchow - Wells Fargo
Shlomo Rosenbaum - Stifel
Brendan Lynch - Barclays
Jon Atkin - RBC

Operator

Good morning and welcome to the Iron Mountain Second Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]

Please note today's event is being recorded. I would now like to turn the conference over to Gillian Tiltman, Senior Vice President and Head of Investor Relations. Please go ahead.

Gillian Tiltman

Thank you, Rocco. Good morning and welcome to our Second Quarter 2024 Earnings Conference Call. On today's call, we will refer to materials available on our Investor Relations website. We are joined here today by Bill Meaney, President and Chief Executive Officer, and Barry Hytinen, Executive Vice President and Chief Financial Officer. After prepared remarks, we'll open up the lines for Q&A. Today's earnings materials contain forward-looking statements including statements regarding our expectations.

All forward-looking statements are subject to risks and uncertainties. Please refer to today's earnings materials, the Safe Harbor Language on Slide 2, and our quarterly report on Form 10-Q for a discussion of the major risk factors that could cause our actual results to differ from those in our forward-looking statements. In addition, we use several non-GAAP measures when presenting our financial results. We have included the reconciliations to these measures in our supplemental financial information.

So with that, I'll turn the call over to Bill.

William Meaney

Thank you, Gillian, and thank you all for taking the time to join us today for our discussion of our second quarter results. As you saw in this morning's announcement, this quarter delivered another record financial performance and exceeded our expectations. Reflecting on these results, I am incredibly proud of how our team consistently executes at a high level, putting our customers at the center of everything we do. With our proven growth strategy, we are entering the back half of the year with strong momentum.

We continue to see firsthand the power of Project Matterhorn from our commercial teams, who are successfully leveraging our full suite of products and solutions to help position Iron Mountain as an ideal partner to our customers. This customer centricity continues to power our results forward for both customers and our shareholders. Building on our track record of value creation for our shareholders and our strong positive outlook, our Board of Directors has authorized an increase of our quarterly dividend by 10% to $0.715 in-line with our AFFO per share growth.