Data centre REIT Iron Mountain posts record Q2 revenue, raises FY forecast

Iron Mountain

06/08/2025 11:57

Overview

Iron Mountain Q2 rev grows 11.6% yr/yr to record $1.7 bln

Adjusted EBITDA beats analyst expectations, driven by growth in key segments

Co reports net loss of $43 mln due to Fx impact on intercompany balances

Outlook

Iron Mountain raises full-year revenue guidance to $6.79 bln-$6.94 bln

Company projects full-year adjusted EBITDA of $2.52 bln-$2.57 bln

Iron Mountain expects AFFO per share of $5.04-$5.13

Company cites strong momentum in growth businesses for guidance increase

Result Drivers

DATA CENTER GROWTH - Data center, digital, and asset lifecycle management businesses grew over 30%, driving revenue growth

FX IMPACT - Net loss of $43 mln attributed to changes in exchange rates on intercompany balances

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Miss
$0.48
$0.5 (6 Analysts)
Q2 EPS
-$0.15
Q2 Net Income
-$43 mln
Q2 Adjusted EBITDA
Beat
$628 mln
$622.40 mln (6 Analysts)
Q2 Adjusted EBITDA Margin
36.7%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for Iron Mountain Inc is $123.00, about 22.3% above its August 5 closing price of $95.55

The stock recently traded at 45 times the next 12-month earnings vs. a P/E of 45 three months ago

Press Release: ID:nBw98035va

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)