Iron Mountain Reports Record Q1 Results and Raises Full-Year 2026 Financial Guidance

summarizeSummary

Iron Mountain Inc. reported record first-quarter 2026 financial results, with significant growth across all key metrics, and subsequently raised its full-year 2026 guidance, driven by strong performance in its data center, digital, and ALM businesses.

check_boxKey Events

• Record Q1 Financial Performance

  Iron Mountain reported record Q1 2026 results, with total revenue increasing 21.6% to $1.9 billion, Net Income rising to $149 million from $16 million, Adjusted EBITDA growing 22.1% to $708 million, and AFFO increasing 22% to $426 million.

• Increased Full-Year 2026 Guidance

  The company raised its full-year 2026 guidance across all key metrics, including total revenue (new midpoint ~14% Y/Y growth), Adjusted EBITDA (new midpoint ~14% Y/Y growth), AFFO (new midpoint ~13% Y/Y growth), and AFFO per share (new midpoint ~13% Y/Y growth).

• Strong Growth in Key Segments

  Growth businesses, including data center, digital solutions, and asset lifecycle management (ALM), collectively grew more than 50% year-over-year in Q1 2026, with data center leasing already at 32 megawatts through April.

• Quarterly Dividend Declared

  The Board of Directors declared a quarterly cash dividend of $0.864 per share of common stock, payable on July 3, 2026, to shareholders of record on June 15, 2026.

auto_awesomeAnalysis

Iron Mountain Inc. delivered exceptional first-quarter 2026 results, achieving record performance across all key financial metrics, including a 21.6% increase in total revenue and a 22.1% rise in Adjusted EBITDA year-over-year. This strong performance was significantly driven by its growth businesses in data centers, digital solutions, and asset lifecycle management (ALM), which collectively grew over 50%. Following this outperformance, the company raised its full-year 2026 financial guidance for revenue, Adjusted EBITDA, AFFO, and AFFO per share. This positive update, which follows a news alert earlier today, signals robust operational momentum and strong demand for its services, particularly in data center leasing, and is likely to be viewed favorably by investors, especially as the stock is trading near its 52-week high. The declaration of a quarterly cash dividend of $0.864 per share further underscores the company's commitment to shareholder returns.