Iron Mountain IRM

Iron Mountain reported record third quarter revenue of $2.0 billion

Item 2.02 Reports results

Form: 8-K
Filed: Nov 5, 2026, 6:47 am ET
Importance: Major
Accession: 0001020569-26-000081

Third quarter revenue increased 13.5% year over year
Net income rose to $129 million from $86 million
Adjusted EBITDA reached $748 million, up 13.3%
AFFO per share increased 15.9% to $1.53

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The reading, claim by claim

The filing includes an earnings press release, a slide presentation, and supplemental financial information.
These materials are not deemed filed for purposes of the Securities Exchange Act of 1934.
The third quarter of 2026 saw record revenue of $2.0 billion, up 13.5% from the same period in 2025.
Net income for the quarter was $129 million, compared to $86 million in 2025.
Adjusted EBITDA reached $748 million, an increase of 13.3% year over year.
The dividend is payable on January 6, 2027.

6 of 6 claims matched the filing text.

From the filing

Item 2.02. Results of Operations and Financial Condition.

On November 5, 2026, Iron Mountain Incorporated, or the Company, issued an earnings press release and supplemental financial information for the quarter ended September 30, 2026. In addition, the Company will be using a slide presentation during its earnings conference call.¹ ¹Copies of the earnings press release, slide presentation and supplemental financial information are furnished as Exhibits 99.1, 99.2 and 99.3, respectively, hereto and posted on the Company's website, www.ironmountain.com, under "Investors.¹"

The information in this report, including Exhibits 99.1, 99.2 and 99.3 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act")² or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number

Description

99.1 Third Quarter 2026 Earnings Press Release ( Furnished herewith.)

99.2 Third Quarter 2026 Earnings Conference Call Presentation ( Furnished herewith.)

99.3 Third Quarter 2026 Supplemental Financial Information (Furnished herewith)

104 The cover page from this Current Report on Form 8-K, formatted as Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

IRON MOUNTAIN INCORPORATED

By:

/s/ Barry Hytinen

Name:

Barry Hytinen

Title:

Executive Vice President and Chief Financial Officer

Date: November 5, 2026

FOR IMMEDIATE RELEASE Iron Mountain Reports Third Quarter 2026 Results • Achieves record third quarter revenue of $2.0 billion, an increase of 13.5% on a reported basis and 12.8% on an organic basis • Growth businesses of data center, digital, and asset lifecycle management (ALM) collectively grew more than 30% year over year in the third quarter • Data center leasing of 102 megawatts in the third quarter for a total of 137 megawatts year to date • Q3 2026 Net Income of $129 million, as compared to Net Income of $86 million in Q3 2025 • Delivers record quarterly Adjusted EBITDA of $748 million, an increase of 13.3% with a strong Adjusted EBITDA margin of 37.6%, up nearly 200 basis points sequentially • Generates all-time high quarterly AFFO of $458 million, or $1.53 per share, an increase of 17% compared to last year • Raises full year 2026 financial guidance driven by continued strong operational performance across the business • Increases quarterly dividend per share by 15% based on continued strong growth in AFFO PORTSMOUTH, N.H. – November 5, 2026 – Iron Mountain Incorporated (NYSE: IRM), a global leader in information management services, announces financial results for the third quarter of 2026. "We are pleased to report another record performance in the third quarter that exceeded our expectations. Our outstanding results continue to reflect the combined strength of our physical records storage and growth businesses, supported by our team's commitment to customer value creation and disciplined operational execution," stated William L. Meaney, President and CEO of Iron Mountain. "Our business and outlook remains strong with a clear view for sustained long-term growth. We have signed 137 megawatts of new data center leases year to date and our cross-selling efforts in ALM and Digital are accelerating, all of which supports significant future growth. Based on our strong 2026 growth and continued positive outlook, we are pleased to increase the dividend by 15%." Financial Performance Highlights for the Third Quarter of 2026 ($ in millions, except per share data) Three Months Ended Y/Y % Change Year to Date Y/Y % Change 9/30/26 9/30/25 Reported $ Constant Fx 9/30/26 9/30/25 Reported $ Constant Fx Storage Rental Revenue $1,150 $1,033 11% 11% $3,379 $2,991 13% 12% Service Revenue $841 $721 17% 16% $2,577 $2,067 25% 23% Total Revenues $1,991 $1,754 13% 13% $5,956 $5,059 18% 16% Net Income (Loss) $129 $86 49% $384 $59 n/a Reported EPS $0.41 $0.28 46% $1.23 $0.19 n/a Adjusted EPS $0.64 $0.54 19% $1.82 $1.48 23% Adjusted EBITDA $748 $660 13% 13% $2,183 $1,869 17% 16% Adjusted EBITDA Margin 37.6% 37.6% 0 bps 36.7% 36.9% -20 bps AFFO $458 $393 17% $1,317 $1,111 19% AFFO per share $1.53 $1.32 16% $4.40 $3.73 18% 1 • Total reported revenues for the third quarter were $2.0 billion, compared with $1.8 billion in the third quarter of 2025, an increase of 13.5%.³ Excluding the impact of foreign currency exchange ("Fx"), total reported revenues increased 13.3% compared to the prior year, driven by an 11.2% increase in storage rental revenue and a 16.3% increase in service revenue. Year to date, total reported revenues increased 17.7%, or 16.5% excluding the impact of Fx. • Net Income for the third quarter was $128.9 million, compared with $86.2 million in the third quarter of 2025⁴, driven primarily by increased Operating Income. Year to date, Net Income was $384.0 million, compared with $59.1 million in 2025. • Adjusted EBITDA for the third quarter was $748.0 million, compared with $660.4 million in the third quarter of 2025, an increase of 13.3%.⁵ On a constant currency basis, Adjusted EBITDA increased by 13.0% in the third quarter, compared to the third quarter of 2025, driven by increased revenue and Adjusted EBITDA across each of our segments and improved operating leverage from our continued transformation activities. Year to date, Adjusted EBITDA increased 16.8%, or 15.7% excluding the impact of Fx. • FFO (Normalized) per share was $1.05 for the third quarter, compared with $0.93 in the third quarter of 2025, an increase of 12.9%. Year to date, FFO (Normalized) per share was $3.03, compared with $2.59 in 2025, or an increase of 17.0%. • AFFO was $458.4 million for the third quarter, compared with $393.3 million in the third quarter of 2025, an increase of 16.6% driven by improved Adjusted EBITDA. Year to date, AFFO was $1,317.3 million compared with $1,111.5 million, or an increase of 18.5%. • AFFO per share was $1.53 for the third quarter, compared with $1.32 in the third quarter of 2025, an increase of 15.9%. Year to date, AFFO per share was $4.40, compared to $3.73 in 2025, or an increase of 18.0%. Dividend On November 5, 2026, Iron Mountain's Board of Directors declared a quarterly cash dividend of $0.993 per share of common stock for the fourth quarter, representing an increase of 15%. The fourth quarter 2026 dividend is payable on January 6, 2027, to shareholders of record at the close of business on December 15, 2026.⁶ Guidance Iron Mountain's fourth quarter and full year 2026 guidance details are summarized in the table below. 2026 Guidance(1) ($ in millions, except per share data) Q4 2026 Full Year 2026 A

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