Iron Mountain (NYSE:IRM) Issues Quarterly Earnings Results

Iron Mountain (NYSE:IRM) released its earnings results on Thursday. The financial services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.78), FiscalAI reports. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company earned $1.24 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Iron Mountain updated its FY 2026 guidance to 5.690-5.790 EPS and its Q1 2026 guidance to 1.390-1.390 EPS.

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

• Iron Mountain reported another record year in 2025 with revenue up 12% to $6.9B, Adjusted EBITDA up 15% to $2.57B, and AFFO up 15% to $1.54B, and the fourth quarter beat expectations with ~17% YoY growth.
• The data center business is a major growth driver—data center revenue +30% in 2025 (Q4 +39%)—and management expects the current backlog to drive >25% data center revenue growth in 2026, >20% in 2027, and plans to lease 100+ MW in 2026 from a 400 MW land bank.
• Asset Lifecycle Management (ALM) showed outsized momentum—ALM revenue +63% in 2025 (40% organic); Q4 organic +56%—and Iron Mountain guided to about $850M ALM revenue in 2026
• Management gave a confident 2026 outlook with total revenue $7.625B–$7.775B, Adjusted EBITDA $2.875B–$2.925B, and AFFO $1.705B–$1.735B, plans modestly lower capex (growth ~$2.0B, recurring ~$150M), and ended 2025 with net lease adjusted leverage of ~4.9x.
• Some risks/pressure points remain—services mix temporarily reduced overall gross margin despite services margin improvement, data center expansion depends on pre‑leasing and backlog conversion, FX and quarter-to-quarter data management variability can affect near-term comps, and the Treasury contract is conservative in 2026 ($45M) with the expected larger ramp not certain until future years.

Iron Mountain Price Performance

Iron Mountain stock opened at $105.79 on Friday. The business has a 50 day moving average of $88.29 and a 200-day moving average of $93.62. The company has a market capitalization of $31.27 billion, a P/E ratio of 199.62 and a beta of 1.16. Iron Mountain has a 1 year low of $72.33 and a 1 year high of $110.91.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be issued a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, March 16th. Iron Mountain’s payout ratio is 652.83%.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total value of $498,600.00. Following the completion of the transaction, the executive vice president directly owned 55,081 shares in the company, valued at approximately $4,577,231.10. This represents a 9.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 38,482 shares of Iron Mountain stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $83.17, for a total transaction of $3,200,547.94. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 119,607 shares of company stock worth $9,970,025. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Iron Mountain

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Iron Mountain by 597.9% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock valued at $322,292,000 after purchasing an additional 2,708,560 shares during the period. Invesco Ltd. boosted its stake in shares of Iron Mountain by 18.1% in the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock valued at $516,481,000 after purchasing an additional 776,933 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Iron Mountain by 331.5% in the 3rd quarter. AQR Capital Management LLC now owns 457,472 shares of the financial services provider’s stock valued at $46,356,000 after purchasing an additional 351,463 shares during the last quarter. State Street Corp increased its position in shares of Iron Mountain by 1.9% during the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock worth $1,759,494,000 after buying an additional 322,144 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Iron Mountain by 215.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 377,807 shares of the financial services provider’s stock worth $38,752,000 after buying an additional 258,003 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

More Iron Mountain News

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

• Positive Sentiment: Q4 beat and bullish FY/Q1 guidance — Iron Mountain reported EPS of $1.44 vs. $1.39 expected and revenue $1.84B vs. $1.80B; management set FY2026 EPS guidance of $5.69–$5.79 (well above consensus) and Q1 EPS guidance of $1.39. This combination of an earnings beat plus materially higher forward guidance is the main catalyst for the move higher. Read More.
• Positive Sentiment: AFFO/revenue strength and five years of record growth — AFFO and revenues rose year‑over‑year and topped estimates, and management said Q4 marked another all‑time high driven by data‑center leasing. These operational metrics support the beat and expected cash generation. Read More.
• Positive Sentiment: Data‑center demand is the growth engine — Management highlighted strong enterprise demand for land leases for AI/data‑center builds; analysts and press framed this as the primary structural growth driver. That narrative supports higher revenue visibility and investor enthusiasm. Read More.
• Positive Sentiment: Dividend declared — Board declared a quarterly dividend of $0.864/share (annualized yield ~3.3%), payable Apr 3 with an ex‑dividend date of Mar 16; that supports the income case for long‑term holders. (Company release)
• Neutral Sentiment: Conference call and materials available — Full earnings call transcript, slide deck and press release provide additional details on segment performance and capital allocation for investors who want to dig deeper. Read More. · Read More.
• Negative Sentiment: Profitability and ROE concerns remain — Despite top‑line growth, net margin was modest (~2.4%) and reported a negative return on equity (~‑112.7%), metrics investors should monitor given the stock’s elevated valuation. Read More.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IRM shares. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Thursday, January 22nd. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Barclays reiterated an “overweight” rating and set a $126.00 price objective on shares of Iron Mountain in a research report on Tuesday, January 13th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $113.00.

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.

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