Quarterly ResultApr 30, 2026, 06:52 AM
IRM Q1 Revenue $1.9B, Net Income $149M, Adj. EBITDA $708M; Raises FY26 Guidance
AI Summary
Iron Mountain Incorporated reported strong first-quarter 2026 results, with total revenue reaching $1.9 billion, a 21.6% increase year-over-year, and net income significantly rising to $149 million from $16 million in Q1 2025. The company also achieved a 22.1% increase in Adjusted EBITDA to $708 million and a 22% increase in AFFO to $426 million, or $1.43 per share. Driven by this strong operational performance, particularly in its growth businesses (data center, digital, and ALM), Iron Mountain raised its full-year 2026 financial guidance. Additionally, the Board declared a quarterly cash dividend of $0.864 per share.
Key Highlights
- Q1 2026 Total Revenue: $1.9 billion, up 21.6% YoY ($1.6 billion in Q1 2025).
- Q1 2026 Net Income: $149 million, compared to $16 million in Q1 2025.
- Q1 2026 Adjusted EBITDA: $708 million, up 22.1% YoY ($580 million in Q1 2025).
- Q1 2026 AFFO: $426 million, or $1.43 per share, up 22% YoY.
- Growth businesses (data center, digital, ALM) collectively grew over 50% YoY.
- Increased full-year 2026 guidance for Total Revenue, Adjusted EBITDA, and AFFO.
- Declared quarterly cash dividend of $0.864 per share for Q2 2026.
- Leased 32 megawatts of data center capacity through April.