Iron Mountain Reports Strong Q3 2026 Results Driven by Data Center Growth
Iron Mountain (IRM) delivered robust third-quarter 2026 financial results, highlighted by a 13% year-over-year increase in total revenue to $1.99 billion. The company's data center segment emerged as a primary growth engine, with revenue surging 34% to $274 million and record quarterly leasing activity of 102 megawatts. This expansion is supported by a substantial $575 million revenue backlog in the data center division. Financial performance was further bolstered by a 16% increase in AFFO per share to $1.53 and a significant rise in operating cash flow, which reached $1.2 billion year-to-date. Despite headwinds from a stronger U.S. dollar and increased interest expenses related to data center development, the company raised its full-year 2026 revenue guidance to a midpoint of approximately $7.98 billion.
Topics: data center leasing dividend increase EBITDA margin revenue growth