Iron Mountain Incorporated earnings overview

IRM FY2026 Q1 · Calendar Q2 2026

Iron Mountain Incorporated

Iron Mountain's Q1 2026 results mark a clear acceleration from an already strong Q4 2025. Revenue grew 22% YoY with organic growth of 17% — the strongest in over 25 years — beating consensus on both EPS ($0.60 vs $0.50 estimate, +20%) and revenue ($1.94B vs $1.86B estimate, +4%). The data center segment surged 47% and ALM grew 92%, both accelerating from prior-quarter rates. FedRAMP High authorization for the InSight digital services suite opens a new federal pipeline. Management raised full-year guidance for revenue, EBITDA, and AFFO while announcing a dividend increase. The stock's 10% session move — roughly 9x the benchmark — reflects the market pricing in a materially improved growth trajectory. With a 400 MW data-center pipeline and ALM guidance lifted to $950M, the company has multiple visible growth drivers beyond the current quarter.