Iron Mountain (NYSE:IRM) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Iron Mountain (NYSE:IRM) posted its quarterly earnings data on Thursday. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03, FiscalAI reports. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 earnings per share.

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

• Iron Mountain reported 13% revenue growth, 13% adjusted EBITDA growth and 17% AFFO growth, with records in AFFO and AFFO per share. The company raised 2026 guidance to $7.95–$8.02 billion in revenue and $1.78–$1.80 billion in AFFO.
• Data center revenue grew 34%, with record quarterly leasing of 102 MW and a $575 million revenue backlog. The company said 325 MW of capacity is expected to energize over the next 24 months and raised its 2027 data center revenue estimate to more than $1.3 billion.
• Asset lifecycle management (ALM) revenue increased 43% (38% organically), led by enterprise ALM growth above 50% and strength in data center decommissioning. Management expects 2026 ALM revenue to exceed $1 billion and is planning for more than 25% organic growth in 2027, assuming memory prices remain stable.
• The traditional records business continued to grow, with storage revenue up 5% (more than 7% excluding a prior-year one-time benefit), while digital solutions posted another record revenue quarter. Management said growth businesses are expected to contribute 11 of the company’s 16 percentage points of consolidated growth in 2026.
• The board approved a 15% quarterly dividend increase; net lease-adjusted leverage ended the quarter at 4.8x, and year-to-date operating cash flow reached a company record. Management also cited continued cost-efficiency opportunities across its businesses.

Iron Mountain Price Performance

Shares of IRM stock traded up $1.12 during trading hours on Friday, reaching $106.62. 2,512,615 shares of the stock were exchanged, compared to its average volume of 1,253,290. The business’s fifty day moving average is $113.75 and its two-hundred day moving average is $115.38. Iron Mountain has a 12-month low of $77.77 and a 12-month high of $134.68. The firm has a market capitalization of $31.74 billion, a P/E ratio of 69.68 and a beta of 1.18.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.9930 per share. The ex-dividend date is Tuesday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.8640. This represents a $3.97 dividend on an annualized basis and a dividend yield of 3.7%. Iron Mountain’s payout ratio is currently 247.14%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of research reports. Truist Financial increased their target price on shares of Iron Mountain from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on Iron Mountain from $138.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Rothschild & Co Redburn assumed coverage on Iron Mountain in a research note on Monday, September 21st. They issued a “buy” rating and a $132.00 price objective on the stock. Finally, Wall Street Zen cut Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $143.89.

Insider Activity at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $115.60, for a total value of $693,600.00. Following the completion of the transaction, the executive vice president owned 95,507 shares in the company, valued at $11,040,609.20. The trade was a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Greg McIntosh sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $116.96, for a total transaction of $584,800.00. Following the transaction, the executive vice president owned 65,634 shares of the company’s stock, valued at $7,676,552.64. This trade represents a 7.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 97,948 shares of company stock valued at $11,048,567 over the last 90 days. 1.70% of the stock is owned by corporate insiders.

Key Stories Impacting Iron Mountain

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

• Positive Sentiment: Adjusted Q3 earnings were $1.53 per share versus the $1.47 consensus estimate. AFFO and revenue also topped estimates, with growth supported by data-center leasing, asset lifecycle management and resilient storage operations. Iron Mountain raised its 2026 outlook. Article: IRM Q3 AFFO Beats Estimates on Data Center and ALM Growth
• Positive Sentiment: The quarterly dividend increased nearly 15% to $0.993 per share, or about $3.97 annualized, offering a higher income return for shareholders. Article: Iron Mountain Increases Quarterly Dividend per Share by 15%
• Negative Sentiment: Fourth-quarter revenue guidance fell short of forecasts, creating a near-term concern despite the Q3 beat and higher full-year outlook. This softer outlook may limit the market’s reaction to the otherwise favorable results. Article: Iron Mountain shares decline as revenue guidance falls below forecasts despite Q3 earnings beat

Iron Mountain Company Profile

Iron Mountain Incorporated is an information management and storage company that helps organizations protect, manage and access physical and digital assets. Its services include records storage and management, secure document shredding, digitization and other information-management solutions.

The company also operates data centers and provides services for businesses moving, storing and managing data. Its offerings extend to specialized storage and care for items such as artwork and other valuable collections.

Founded in 1951, Iron Mountain began as a records-storage business in a former iron ore mine in New York.