Iron Mountain Inc Earnings
Iron Mountain Incorporated, a leading global provider of information management services, delivered robust financial results for the third quarter of 2025. The company achieved record-breaking revenue and adjusted earnings, highlighting its successful execution of strategic growth initiatives and solid performance across its business segments.
Iron Mountain Inc Results
The table below summarizes Iron Mountain's key financial metrics for Q3 2025, focusing on revenue and earnings growth compared to the previous year and prior quarter performances.
| Financial Metric | Q3 2025 | Q3 2024 | YoY Change (%) |
|---|---|---|---|
| Total Revenue | $1.8 billion | $1.6 billion | +12.6% |
| Net Income | $86 million | $(33.7) million | - |
| Adjusted EBITDA | $660 million | $568.1 million | +16.2% |
| AFFO Per Share | $1.32 | $1.13 | +16.8% |
| FFO (Normalized) Per Share | $0.93 | $0.79 | +17.7% |
Iron Mountain's financial metrics reveal substantial year-over-year improvements, indicating a solid growth trajectory fueled by increased revenues and profitability.
Revenue Breakdown
Below is a breakdown of revenue performance across Iron Mountain's major segments, highlighting the remarkable progress achieved.
| Revenue Segment | Q3 2025 Revenue | Q3 2024 Revenue | YoY Change (%) |
|---|---|---|---|
| Total Revenue | $1.8 billion | $1.6 billion | 12.6% |
| Storage Rental Revenue | - | - | 9.5% |
| Service Revenue | - | - | 15.3% |
The growth in revenue is attributed to a 9.5% increase in storage rental revenue and a 15.3% surge in service revenue. Notably, Iron Mountain's growth businesses—data centers, digital, and asset lifecycle management (ALM)—collectively experienced a robust growth rate of over 30% year-over-year.
In-depth Analysis of Segment Performance
Iron Mountain's diversified revenue streams underscore its strategic focus on expanding its growth businesses while maintaining its core service offerings. The storage rental segment remains crucial, providing a stable base of recurring income. Meanwhile, the impressive growth in service revenue highlights Iron Mountain's capability to innovate and adapt to changing market demands, particularly in digital and information management solutions.
The data center business, a key element of Iron Mountain's growth strategy, leverages its extensive footprint and customer trust to capture the escalating demand for digital infrastructure. Additionally, the asset lifecycle management services offer comprehensive solutions that resonate with enterprises' needs for secure and efficient asset handling.
Key Developments
During the third quarter, Iron Mountain demonstrated notable developments, including:
- Achieving record quarterly revenues and adjusted EBITDA, bolstering its financial position and market confidence.
- Reaffirming guidance for the full year 2025, projecting robust growth in revenue and adjusted earnings, which will enhance future performance predictability.
Comments from Company Officers
William L. Meaney, President and CEO of Iron Mountain, stated, "We are pleased to report another quarter of very strong performance in the third quarter, achieving all-time record Revenue, Adjusted EBITDA, and AFFO with strength across all of our key metrics. Our continued success is the result of our team's consistent execution of our growth strategy and unwavering focus on meeting our customers' needs with innovative solutions."
Meaney further emphasized the company's commitment to sustaining industry-leading revenue and earnings growth, driven by its resilient customer relationships, innovative offerings, and expanding global footprint.
Dividends and Share Repurchases
Reflecting its strong financial performance and confidence in future prospects, Iron Mountain increased its quarterly dividend per share by 10%. The fourth quarter dividend of $0.864 per share is payable on January 6, 2026, to shareholders of record as of December 15, 2025. This dividend hike underscores Iron Mountain's commitment to delivering value to shareholders through a consistent income stream.
Iron Mountain Inc Stock Forecast
Based on Iron Mountain's impressive Q3 financial performance and its positive growth outlook, stock analysts project a favorable trend for its share price. The company's strategic focus on high-growth segments, combined with its strong customer base and operational efficiency, provides a solid foundation for continued stock performance.
Considering the existing market capitalization of approximately $26.15 billion and current stock trends, analysts foresee a high stock price projection of $70, with a more conservative low projection of $60 over the upcoming quarters.
This stock forecast reflects the market's anticipation of sustained growth, underpinned by Iron Mountain's strategic initiatives and robust financial health.
In conclusion, Iron Mountain's Q3 2025 earnings report reveals a company poised for continued success, driven by record-breaking revenues, strategic investments in growth segments, and a commitment to shareholder value. Investors and stakeholders can anticipate steady income returns along with potential capital appreciation as Iron Mountain advances its leadership in the information management services industry.
