Iron Mountain (NYSE:IRM) Announces Earnings Results

Iron Mountain (NYSE:IRM) issued its earnings results on Thursday. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the company posted $1.32 EPS. Iron Mountain’s revenue was up 13.5% on a year-over-year basis.

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 Stock Performance

IRM stock traded up $1.12 on Friday, hitting $106.62. 2,512,615 shares of the company’s stock were exchanged, compared to its average volume of 1,253,290. Iron Mountain has a 12-month low of $77.77 and a 12-month high of $134.68. The firm has a 50 day moving average price of $113.75 and a two-hundred day moving average price of $115.38. The stock has a market cap of $31.74 billion, a P/E ratio of 69.68 and a beta of 1.18.

Iron Mountain Increases Dividend

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

Key Headlines 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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group cut their price target on Iron Mountain from $147.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. 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. JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $138.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, BNP Paribas Exane boosted their price target on shares of Iron Mountain from $138.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $143.89.

Insider Activity at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 5,000 shares of Iron Mountain stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $116.96, for a total transaction of $584,800.00. Following the completion of the sale, the executive vice president directly owned 65,634 shares in the company, valued at approximately $7,676,552.64. The trade was a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total transaction of $693,600.00. Following the sale, the executive vice president owned 95,507 shares of the company’s stock, valued at $11,040,609.20. The trade was a 5.91% decrease in their ownership of the stock. 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 sold 97,948 shares of company stock valued at $11,048,567 in the last three months. 1.70% of the stock is owned by insiders.

About Iron Mountain

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.