Iron Mountain Incorporated (NYSE:IRM) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 08:30 am ET


Iron Mountain Incorporated (NYSE:IRM) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning and welcome to the Iron Mountain Second Quarter 2020 Earnings Conference Call. [Operator Instructions] Please also note this event is being recorded. I would now like to turn the conference over to Greer Aviv, Senior Vice President of Investor Relations. Please go ahead.

Greer Aviv

Thank you, Rocco. Good morning and welcome to our second quarter 2020 earnings conference call. We have provided the user-controlled slides on our Investor Relations website. We will also be providing a link to today's webcast and earnings material. We're joined here today by Bill Meaney, President and CEO; and Barry Hytinen, our EVP and CFO. Today we plan to share a number of key messages to help you better understand our performance, including how we are successfully navigating the COVID-19 environment, how we have continued to see durability in our core storage business, how we've continued to see strength in our data center business, how we're progressing on our transformation program with Project Summit, and how we as an organization, are reflecting and acting on the recent events, highlighting continued social injustice with regards diversity broadly and our black population specifically.

After our prepared remarks, we'll open up the lines for Q&A. Today's earnings materials will contain forward-looking statements. We have noted the impacts from COVID-19 and our expectations of how that may impact our operations and financial performance in 2020. We have also noted our expectations for Project Summit. As you know, all forward-looking statements are subject to risks and uncertainties. Please refer to today's earnings materials, the Safe Harbor language on the slide 2 and our Annual Report on Form 10-K and other periodic SEC filings 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, as required by Reg G in our supplemental financial information.

With that, Bill, would you please begin?

William Meaney

Thank you, Greer, and thank you all for taking time to join us. Let me start by saying I hope you've all continued to stay safe and healthy in these trying times. Before we get into a discussion of our second quarter performance, I'd like to take some time to touch on two topics that are top of mind for many of us in the current environment. First, the killings of George Floyd and countless others have left me and my colleagues upset, angered and heartbroken. I want to reiterate that racism, discrimination and hate have no place at Iron Mountain. Our commitment and stated as one of our core five values for many years to equality, inclusivity and diversity is part of our belief that our people are our greatest assets. Given this fact, we must continually attract, listen to and develop a broad talent pool reflecting our global demographics in order to deliver to our customers and protect our future.

These tragic events have sparked difficult,