Iron Mountain (NYSE:IRM) Releases Quarterly Earnings Results

Iron Mountain (NYSE:IRM) released its quarterly earnings results on Thursday. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.93, Zacks reports. Iron Mountain had a net margin of 2.10% and a negative return on equity of 99.59%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the company earned $1.17 EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. Iron Mountain updated its Q2 2026 guidance to 1.400-1.400 EPS and its FY 2026 guidance to 5.790-5.860 EPS.

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

• Iron Mountain reported an exceptional Q1 with 22% year-over-year growth in revenue, adjusted EBITDA and AFFO, 17% organic growth (highest in 25+ years), and raised its full-year financial outlook.
• Data center revenue grew 47%, with 22 MW leased in Q1 plus 10 MW in April (32 MW YTD), 400 MW of capacity to be energized over 24 months, and management now expects leasing to be meaningfully above its prior 100 MW guide.
• Asset Lifecycle Management (ALM) revenue surged 92% (77% organic) driven by decommissioning and enterprise wins, and Iron Mountain raised ALM full-year revenue guidance to $950 million (+$100M).
• Operational and cash metrics strengthened — record Q1 operating cash flow of $339M, adjusted EBITDA up 22% with margin expansion, AFFO up 22%, and net lease adjusted leverage improved to 4.8x, enabling higher retained cash flow guidance.
• Component/memory prices helped ALM results but have been volatile — prices rose, then moderated and stabilized; management says current levels align with guidance, but the pricing environment remains a potential source of variability.

Iron Mountain Price Performance

Iron Mountain stock traded up $1.10 during midday trading on Friday, reaching $127.09. The stock had a trading volume of 2,399,871 shares, compared to its average volume of 1,825,798. The firm has a market cap of $37.81 billion, a price-to-earnings ratio of 264.78 and a beta of 1.13. Iron Mountain has a twelve month low of $77.77 and a twelve month high of $127.94. The firm’s fifty day simple moving average is $108.73 and its two-hundred day simple moving average is $98.25.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Monday, June 15th will be given a $0.864 dividend. The ex-dividend date is Monday, June 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.7%. Iron Mountain’s dividend payout ratio (DPR) is 720.83%.

Trending Headlines about Iron Mountain

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

• Positive Sentiment: Q1 beat & guidance raise — Iron Mountain reported stronger-than-expected Q1 results (revenue up ~21.5%, AFFO and EPS beat) and raised FY2026 and Q2 guidance, signaling sustained demand across data centers and digital services. Press Release / Slide Deck
• Positive Sentiment: AI/data-center tailwind — Reuters and other outlets attribute the guidance lift to accelerating demand from AI workloads driving colocation and data-center services, a higher-growth area for IRM. Iron Mountain raises annual forecast on AI-fueled data center boom
• Positive Sentiment: AFFO and profitability momentum — Analysts highlighted strong AFFO growth (~22%) and improved cash-generation metrics that underpin the stock’s re-rating and dividend capacity. Zacks: Q1 AFFO Tops Estimates
• Positive Sentiment: Analyst upgrade / higher target — JPMorgan upgraded IRM to “Overweight” and raised its target to $138, reinforcing buy-side momentum and setting an upgraded valuation anchor. Benzinga
• Neutral Sentiment: Dividend declared — Board announced a $0.864 quarterly dividend (ex-dividend June 15), which supports the REIT income story but is expected rather than transformative. (Company release / earnings materials linked above.)
• Neutral Sentiment: Market technicals and coverage — Coverage pieces and trade notes flagged IRM’s move into resistance/record-high territory after the print, which can attract momentum traders but may also invite short-term profit-taking. Invezz: resistance story
• Negative Sentiment: Insider & institutional selling — Reports note substantial insider sales recently (including multiple executive disposals) and large institutional position shifts, which could concern some investors about near-term liquidity or tax-driven selling pressure.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 38,474 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total value of $3,951,664.54. Following the completion of the sale, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $3,951,664.54. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 dated Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total value of $616,260.00. Following the completion of the transaction, the executive vice president owned 125,507 shares in the company, valued at $12,890,823.97. The trade was a 4.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 451,648 shares of company stock worth $48,297,449 in the last 90 days. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

Several large investors have recently bought and sold shares of the stock. Garton & Associates Financial Advisors LLC bought a new stake in Iron Mountain in the 4th quarter valued at $25,000. Johnson Financial Group Inc. acquired a new position in shares of Iron Mountain during the third quarter valued at about $32,000. DV Equities LLC acquired a new position in shares of Iron Mountain during the fourth quarter valued at about $34,000. Triumph Capital Management grew its position in Iron Mountain by 1,056.8% during the fourth quarter. Triumph Capital Management now owns 428 shares of the financial services provider’s stock worth $35,000 after buying an additional 391 shares in the last quarter. Finally, Strive Financial Group LLC bought a new position in Iron Mountain during the fourth quarter valued at about $44,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IRM shares. Loop Capital set a $130.00 target price on Iron Mountain in a research report on Wednesday, March 4th. Barclays upped their target price on Iron Mountain from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Truist Financial set a $140.00 target price on Iron Mountain in a research report on Friday. Wells Fargo & Company upped their target price on Iron Mountain from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell 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 $131.67.

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.