Iron Mountain beats Q3 adjusted EPS estimates, raises dividend
IRM•Iron Mountain’s Q3 revenue rose 13.5% year over year to $1.99 billion, meeting expectations, while adjusted EPS rose 19% to $0.64, above the $0.61 estimate. The company raised its 2026 revenue and AFFO per-share guidance and increased its quarterly dividend by 15%.
1. Quarterly results
Iron Mountain reported Q3 revenue of $1.99 billion, in line with analyst expectations, and adjusted EPS of $0.64, above the $0.61 estimate. Net income was $129 million, adjusted EBITDA was $748 million and adjusted EBITDA margin was 37.6%.
2. Guidance and dividend
The company raised its full-year 2026 revenue guidance to $7.95 billion-$8.02 billion and expects Q4 revenue of about $2.03 billion. It sees full-year 2026 AFFO per share of $5.94-$6.00 and increased its quarterly dividend by 15%.
3. Business growth
Iron Mountain said its data center, digital and asset lifecycle management businesses collectively grew more than 30% year over year in Q3. It signed 102 megawatts of data center leases during the quarter, bringing year-to-date signings to 137 megawatts.
