Iron Mountain Q4 revenue beats estimates on data center demand

Iron Mountain

12/02/2026 11:53

Overview

Information management firm's Q4 revenue grew 16.6% yr/yr, driven by strong service revenue

Adjusted EPS for Q4 beat analyst expectations

Adjusted EBITDA for Q4 beat analyst expectations

Outlook

Iron Mountain projects 2026 revenue growth of 10% to 13%

Company expects Adjusted EBITDA growth of 12% to 14% in 2026

Iron Mountain anticipates 400 megawatts of data center capacity energized over 24 months

Result Drivers

GROWTH BUSINESSES - Data center, digital, and ALM businesses grew over 40% in Q4, driving overall revenue growth

DATA CENTER LEASING - Strong data center leasing in Q4 supports future growth, with 400 MW capacity to be energized over next 24 months

SERVICE REVENUE - Service revenue increased 22% yr/yr in Q4, contributing to total revenue growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Adjusted EPS
Beat
$0.61
$0.59 (5 Analysts)
Q4 EPS
$0.30
Q4 Net Income
$93 mln
Q4 Adjusted EBITDA
Beat
$705 mln
$684.97 mln (9 Analysts)
Q4 Adjusted EBITDA Margin
38.30%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "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 $126.00, about 25.7% above its February 11 closing price of $100.22

The stock recently traded at 44 times the next 12-month earnings vs. a P/E of 45 three months ago

Press Release: ID:nBw7Ywq4Da

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.)