IRM IRON MOUNTAIN INC
Price Chart
Executive Summary
Iron Mountain reported record Q1 2026 results with total revenue of $1.936B (+21.6% YoY), AFFO per share of $1.43 (+22.2% YoY), and raised full-year 2026 guidance across all key metrics. The beat was driven by 47% data center revenue growth, 92% ALM revenue growth, and strong organic revenue growth of 17.2%.
Key Financial Metrics
Actionable Insight
The raised guidance and accelerating growth in data center and ALM (both >40% YoY) signal sustained momentum. Watch for continued data center leasing announcements and Q2 results to validate the 25%+ data center growth trajectory. The stock's 88% analyst bullish rating and strong historical T+20 performance (+4.56% avg) suggest the market will reward this beat and raise.
Key Facts
- Q1 2026 total revenue of $1.936B, +21.6% YoY (organic +17.2%)
- AFFO per share of $1.43, +22.2% YoY vs consensus estimate of $1.27 (beat by 12.6%)
- Net income of $149M vs $16M in Q1 2025
- Adjusted EBITDA of $708M, +22.1% YoY
- Raised FY2026 guidance: revenue to $7.825B-$7.925B (prev $7.625B-$7.775B), AFFO per share to $5.79-$5.86 (prev $5.69-$5.79)
- Data center revenue grew 47% YoY; ALM revenue grew 92% YoY
- Data center leased 22 MW of new leases in Q1, with 32 MW leased through April
- Net lease-adjusted leverage improved to 4.8x from 5.0x a year ago
- Quarterly dividend maintained at $0.864/share
Financial Impact
Revenue beat consensus by ~$76M (4.1%), AFFO per share beat consensus by $0.16 (12.6%)
Risk Factors
- Data center development execution risk on 400 MW energizing over 24 months
- Interest expense growth (+14.9% YoY) could pressure AFFO if rates stay elevated
- ALM revenue is more variable and tied to hardware refresh cycles
- Total debt of $17.1B with net lease-adjusted leverage at 4.8x
Market Snapshot
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001020569-26-000036 |
| Document: q12026earningspressrelea.htm | 0001020569-26-000036 |
| Document: ironmountainq12026earnin.htm | 0001020569-26-000036 |
| Document: irm-20260430.htm | 0001020569-26-000036 |
| Document: 0001020569-26-000036-index-headers.html | 0001020569-26-000036 |
| Document: 0001020569-26-000036-index.html | 0001020569-26-000036 |
| Document: 0001020569-26-000036.txt | 0001020569-26-000036 |
| 8-K Data (Synthetic) | 0001020569-26-000036 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 8, 2026
5w ago
|
Insider Cluster
| $128.84 $124.66 | ▼ −3.24% | ▼ −3.27% | $127.24 (−1.24%) |
|
Apr 30, 2026
6w ago
|
8-K
| $125.99 $128.25 | ▲ +1.79% | ▼ −3.43% | $127.24 (+0.99%) |
|
Apr 1, 2026
10w ago
|
Insider Cluster
| $100.95 $114.52 | ▲ +13.44% | ▲ +3.72% | $127.24 (+26.04%) |
|
Mar 24, 2026
11w ago
|
DEFA14A
| $100.53 $116.12 | ▲ +15.51% | ▲ +7.65% | $127.24 (+26.57%) |
|
Mar 2, 2026
14w ago
|
Insider Cluster
| $109.44 $97.60 | ▲ +10.82% | ▲ +2.88% | $127.24 (−16.27%) |
|
Mar 2, 2026
14w ago
|
Insider Cluster
| $109.44 $97.60 | ▲ +10.82% | ▲ +2.88% | $127.24 (−16.27%) |
|
Mar 2, 2026
14w ago
|
Insider Cluster
| $109.44 $97.60 | ▼ −10.82% | ▼ −2.88% | $127.24 (+16.27%) |
|
Mar 2, 2026
14w ago
|
Insider Cluster
| $109.44 $97.60 | ▼ −10.82% | ▼ −2.88% | $127.24 (+16.27%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access