Iron Mountain (NYSE:IRM) Announces Quarterly Earnings Results

Iron Mountain (NYSE:IRM) issued its earnings results on Thursday. The financial services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.05, Briefing.com reports. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.80 billion. Iron Mountain had a net margin of 2.40% and a negative return on equity of 112.70%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business earned $1.24 earnings per share. Iron Mountain updated its FY 2026 guidance to 5.690-5.790 EPS and its Q1 2026 guidance to 1.390-1.390 EPS.

Here are the key takeaways from Iron Mountain’s conference call:

• Iron Mountain reported another record year in 2025 with revenue up 12% to $6.9B, Adjusted EBITDA up 15% to $2.57B, and AFFO up 15% to $1.54B, and the fourth quarter beat expectations with ~17% YoY growth.
• The data center business is a major growth driver—data center revenue +30% in 2025 (Q4 +39%)—and management expects the current backlog to drive >25% data center revenue growth in 2026, >20% in 2027, and plans to lease 100+ MW in 2026 from a 400 MW land bank.
• Asset Lifecycle Management (ALM) showed outsized momentum—ALM revenue +63% in 2025 (40% organic); Q4 organic +56%—and Iron Mountain guided to about $850M ALM revenue in 2026
• Management gave a confident 2026 outlook with total revenue $7.625B–$7.775B, Adjusted EBITDA $2.875B–$2.925B, and AFFO $1.705B–$1.735B, plans modestly lower capex (growth ~$2.0B, recurring ~$150M), and ended 2025 with net lease adjusted leverage of ~4.9x.
• Some risks/pressure points remain—services mix temporarily reduced overall gross margin despite services margin improvement, data center expansion depends on pre‑leasing and backlog conversion, FX and quarter-to-quarter data management variability can affect near-term comps, and the Treasury contract is conservative in 2026 ($45M) with the expected larger ramp not certain until future years.

Iron Mountain Stock Up 5.6%

Shares of NYSE:IRM traded up $5.57 on Thursday, hitting $105.79. 4,340,939 shares of the company traded hands, compared to its average volume of 2,048,815. The stock has a 50 day simple moving average of $87.87 and a 200-day simple moving average of $93.53. The company has a market cap of $31.27 billion, a PE ratio of 199.62 and a beta of 1.16. Iron Mountain has a 52 week low of $72.33 and a 52 week high of $110.91.

Trending Headlines about Iron Mountain

Here are the key news stories impacting Iron Mountain this week:

• Positive Sentiment: Q4 operating beat — Iron Mountain reported $1.44 EPS (above $1.39 consensus) and AFFO per share and revenues rose year‑over‑year, showing solid quarter-over-quarter fundamentals. Read More.
• Positive Sentiment: Management raised guidance — IRM set Q1 FY2026 EPS guidance at 1.390 and FY2026 EPS at 5.690–5.790, well above consensus, and issued revenue targets that exceed prior expectations, signaling confidence in growth drivers. Read More.
• Positive Sentiment: Data‑center land lease boom — Management flagged strong enterprise demand to lease land for AI‑scale data centers; Iron Mountain said this helped push FY revenue guidance above Wall Street estimates and contributed to record results. Read More.
• Positive Sentiment: Record performance streak — Company noted a fifth straight year of record results, underscoring multi‑year momentum driven by data center expansion and recurring storage services. Read More.
• Neutral Sentiment: Additional analyst/context pieces — Several previews and writeups discuss IRM’s outlook and valuation post‑earnings; use these for deeper read‑throughs of guidance drivers and model changes. Read More., Read More.
• Negative Sentiment: Profitability/returns remain thin — Despite top‑line growth, IRM reported a low net margin (~2.4%) and a negative return on equity (‑112.7%), which could concern value‑oriented investors and limit multiple expansion. Read More.
• Negative Sentiment: High valuation vs. fundamentals — The stock trades at a rich P/E, reflecting high expectations; if future execution or data‑center demand softens, multiple could compress. Read More.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $83.34, for a total transaction of $5,760,877.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total transaction of $498,600.00. Following the sale, the executive vice president owned 55,081 shares of the company’s stock, valued at $4,577,231.10. This trade represents a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 119,607 shares of company stock valued at $9,970,025 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Iron Mountain

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRM. StoneX Group Inc. purchased a new stake in shares of Iron Mountain in the fourth quarter valued at $242,000. Dimensional Fund Advisors LP grew its holdings in Iron Mountain by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,429,359 shares of the financial services provider’s stock valued at $367,418,000 after purchasing an additional 81,320 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Iron Mountain in the 4th quarter worth about $871,000. Federated Hermes Inc. lifted its stake in Iron Mountain by 1.0% in the fourth quarter. Federated Hermes Inc. now owns 148,166 shares of the financial services provider’s stock worth $12,290,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Mindset Wealth Management LLC boosted its position in shares of Iron Mountain by 5.2% during the fourth quarter. Mindset Wealth Management LLC now owns 7,748 shares of the financial services provider’s stock valued at $643,000 after buying an additional 384 shares during the period. Institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IRM. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. JPMorgan Chase & Co. increased their price objective on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Barclays reaffirmed an “overweight” rating and issued a $126.00 target price on shares of Iron Mountain in a research note on Tuesday, January 13th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $113.00.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.

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