Iron Mountain (NYSE:IRM) Issues Quarterly Earnings Results, Beats Expectations By $0.90 EPS

Iron Mountain (NYSE:IRM) released its earnings results on Wednesday. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.90, Briefing.com reports. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.97 billion. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 EPS. Iron Mountain updated its Q3 2026 guidance to 1.470-1.470 EPS and its FY 2026 guidance to 5.870-5.930 EPS.

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

• Iron Mountain raised its full-year 2026 guidance, now projecting revenue of $7.94 billion–$8.01 billion, adjusted EBITDA of $2.945 billion–$2.975 billion, and AFFO of $1.76 billion–$1.78 billion.
• Second-quarter results exceeded expectations, with revenue up 19%, adjusted EBITDA up 16%, and AFFO up 17%; growth businesses including data centers, asset lifecycle management (ALM), and digital solutions collectively grew more than 50%.
• Data center momentum remained strong, including 110 megawatts of year-to-date leasing and July agreements totaling 76 megawatts in London and Mumbai; approximately 325 megawatts of additional capacity is expected to energize over the next 24 months.
• ALM revenue surged 88% year over year, and management expects full-year ALM revenue to approach $1 billion, supported by enterprise growth, hyperscale decommissioning, global cross-selling, and the acquisition of Group ATF in France and Belgium.
• Management noted that roughly $30 million of ALM hyperscale decommissioning revenue benefited from projects accelerated into the quarter, highlighting potential lumpiness in future results even as enterprise ALM is expected to sustain strong growth.

Iron Mountain Trading Up 1.4%

NYSE IRM traded up $1.75 during trading hours on Wednesday, hitting $127.26. 2,711,903 shares of the company’s stock were exchanged, compared to its average volume of 2,059,736. The firm has a market cap of $37.86 billion, a price-to-earnings ratio of 139.85 and a beta of 1.20. The stock has a 50-day simple moving average of $125.06 and a 200 day simple moving average of $114.64. Iron Mountain has a 1-year low of $77.77 and a 1-year high of $134.68.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain’s payout ratio is currently 380.22%.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Barclays lifted their target price on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Wall Street Zen lowered Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings raised Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $134.33.

Iron Mountain News Roundup

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

• Positive Sentiment: Q2 results exceeded expectations. Iron Mountain reported revenue of $2.03 billion, up 18.5% year over year and ahead of the $1.97 billion consensus estimate. Adjusted EPS was $1.44, substantially above the $0.54 consensus cited in company coverage and also ahead of the $1.40 Zacks estimate. Iron Mountain Reports Second Quarter 2026 Results
• Positive Sentiment: Growth businesses remained key drivers. Data center, digital, and ALM revenue collectively grew more than 50% year over year. Data center leasing reached 110 megawatts year to date, including 75 megawatts contracted in July, supporting expectations for continued expansion. IRM Q2 AFFO Beats Estimates on Data Center and ALM Growth
• Positive Sentiment: Full-year guidance was raised. Iron Mountain now expects 2026 revenue of approximately $7.94 billion to $8.01 billion and EPS of $5.87 to $5.93, above the $5.40 analyst consensus. Third-quarter EPS guidance of $1.47 also exceeded the $1.35 consensus, signaling management’s confidence in near-term performance.
• Positive Sentiment: Dividend maintained. The company declared a quarterly dividend of $0.864 per share, payable October 2 to shareholders of record September 15. The indicated yield is approximately 2.7%. Iron Mountain Earnings Report

Insider Activity at Iron Mountain

In other news, Director Pamela M. Arway sold 1,892 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $128.97, for a total transaction of $244,011.24. Following the completion of the transaction, the director directly owned 40,196 shares in the company, valued at $5,184,078.12. The trade was a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Daniel Borges sold 7,189 shares of Iron Mountain stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $125.50, for a total value of $902,219.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 137,260 shares of company stock valued at $17,361,672 over the last three months. Insiders own 1.70% of the company’s stock.

Institutional Trading of Iron Mountain

Institutional investors have recently added to or reduced their stakes in the business. Garton & Associates Financial Advisors LLC bought a new position in shares of Iron Mountain in the fourth quarter worth approximately $25,000. Johnson Financial Group Inc. bought a new position in Iron Mountain during the 3rd quarter valued at approximately $32,000. DV Equities LLC purchased a new stake in shares of Iron Mountain in the 4th quarter worth about $34,000. Triumph Capital Management raised its position in shares of Iron Mountain by 1,056.8% in the 4th quarter. Triumph Capital Management now owns 428 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 391 shares in the last quarter. Finally, Wealth Watch Advisors INC bought a new position in shares of Iron Mountain in the 3rd quarter worth about $44,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

About Iron Mountain

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.