Iron Mountain reported record third quarter 2026 results that exceeded top-line expectations, driven by a 34% surge in its Global Data Center business. The company raised its full-year 2026 guidance and declared a 15% increase in its quarterly dividend to $0.993 per share, reflecting strong cash flow generation and momentum in its digital transformation and asset lifecycle management segments.
Key Highlights
- Data center performance hit record levels with 102 megawatts of new leasing in the third quarter alone, bringing the year-to-date total to 137 megawatts.
- Adjusted Funds From Operations (AFFO) per share reached $1.53, a 16% increase from the prior year, significantly beating the implied consensus of $1.35.
- Asset Lifecycle Management (ALM) revenue grew 43% on a reported basis (38% organic) as cross-selling efforts for IT asset disposition accelerated across the enterprise customer base.