Iron Mountain Q1 revenue, adj EBITDA tops estimates

Iron Mountain

30/04/2026 11:53

Overview

Information management firm's Q1 revenue rose 22%, beating analyst expectations

Q1 adjusted EPS grew 40% to $0.60, beating analyst expectations

Company raised 2026 full-year guidance after strong growth in data center and digital units

Outlook

Iron Mountain raises 2026 revenue guidance to $7.825-$7.925 bln

Company expects 2026 Adjusted EBITDA of $2.925-$2.965 bln

Iron Mountain sees 2026 AFFO per share of $5.79-$5.86

Result Drivers

GROWTH BUSINESSES - Data center, digital, and asset lifecycle management units collectively grew more than 50% year over year, driving overall results

SERVICE REVENUE - Service revenue rose 31% year over year, outpacing storage rental revenue growth

PHYSICAL STORAGE - Continued solid growth in recurring physical records storage business contributed to overall performance

Company press release: ID:nBw4JPCLna

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$1.94 bln
$1.86 bln (9 Analysts)
Q1 Adjusted EPS
Beat
$0.60
$0.52 (6 Analysts)
Q1 EPS
$0.48
Q1 Net Income
$149 mln
Q1 Adjusted EBITDA
Beat
$708 mln
$682.75 mln (9 Analysts)
Q1 Adjusted EBITDA Margin
36.60%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", no "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 $133.00, about 16.1% above its April 29 closing price of $114.52

The stock recently traded at 47 times the next 12-month earnings vs. a P/E of 36 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)