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

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

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

Iron Mountain stock traded up $1.12 during midday trading on Friday, hitting $106.62. 2,512,615 shares of the stock were exchanged, compared to its average volume of 1,253,290. Iron Mountain has a 1 year low of $77.77 and a 1 year high of $134.68. The firm has a market cap of $31.74 billion, a P/E ratio of 69.68 and a beta of 1.18. The company has a 50 day moving average price of $113.75 and a two-hundred day moving average price of $115.38.

Iron Mountain Increases Dividend

The company also recently declared 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. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.8640. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $3.97 annualized dividend and a yield of 3.7%. Iron Mountain’s payout ratio is presently 247.14%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 5,000 shares of the 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 completion of the transaction, the executive vice president directly owned 65,634 shares in the company, valued at approximately $7,676,552.64. This represents a 7.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the 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 transaction, the executive vice president owned 95,507 shares of the company’s stock, valued at approximately $11,040,609.20. This trade represents a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 97,948 shares of company stock valued at $11,048,567 in the last ninety days. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price 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 initiated coverage on Iron Mountain in a report on Monday, September 21st. They set a “buy” rating and a $132.00 target price on the stock. Truist Financial raised their target price on Iron Mountain from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Wells Fargo & Company boosted their price target on Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group upped their price target on Iron Mountain from $153.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.89.

Key Iron Mountain News

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.