Iron Mountain raises 2026 guidance after strong third quarter

Iron Mountain raised its full year 2026 guidance after third quarter revenue rose 13.5 percent to $1,991 million, with data center leasing of 102 megawatts in the quarter.

Why it matters: The guidance raise, a 15 percent dividend increase and 137 megawatts of data center leases signed this year underline how far Iron Mountain's growth businesses now drive a company long valued on records storage alone.

Data as of Iron Mountain's Exhibit 99.1 earnings release for the quarter ended September 30, 2026, furnished with its Form 8-K of November 5, 2026 (accession 0001020569-26-000081) and read in full in this run; all figures are the filing's own. Developing item.

Iron Mountain reported third quarter revenue of $1,991 million, up 13.5 percent from $1,754 million a year earlier, with adjusted EBITDA of $748.0 million and adjusted funds from operations of $458.4 million, or $1.53 per share, up 15.9 percent. The company raised its full year 2026 guidance to revenue of $7,950 million to $8,020 million and AFFO per share of $5.94 to $6.00, and increased its quarterly dividend 15 percent to $0.993 per share.

Data center leasing was 102 megawatts in the quarter, taking signed leases to 137 megawatts for the year to date, and the company’s supplemental filing puts data center segment revenue at $273.6 million in the quarter, up 34.0 percent, with segment adjusted EBITDA of $154.0 million at a 56.3 percent margin. Its data center, digital and asset lifecycle management growth businesses together grew more than 30 percent year over year.

Iron Mountain raises 2026 guidance after strong third quarter

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