Iron Mountain Incorporated

New York Stock Exchange
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Bullish +75

Iron Mountain (IRM) Reports Q1 Earnings: What Key Metrics Have to Say

AI-generated analysis

📈 Iron Mountain reported Q1 revenue of $1.94 billion, a 21.6% year-over-year increase compared to March 2025.

💰 Earnings per share (EPS) reached $1.43, up from $0.43 the previous year and beating analyst estimates.

🏆 Revenue surpassed Zacks Consensus Estimates by $80 million, registering a positive surprise of +4.31%.

💹 Adjusted EPS fully diluted from continuing operations was $0.6 million, slightly exceeding the two-analyst average estimate.

⬆️ Service revenue grew 30.6% year-over-year to $841.38 million, significantly outpacing analyst projections.

💾 Storage rental revenue increased 15.4% to $1.09 billion, aligning closely with the estimated benchmark of $1.08 billion.

📊 Stock price rose 13.4% over the past month, slightly outperforming the Zacks S&P 500 composite gain of 12.2%.

⚖️ The stock currently carries a Zacks Rank #3 (Hold), suggesting performance may mirror the broader market in the near term.

📅 This report covers the quarter ended March 2026, with data published on April 30, 2026.

👥 Two analysts provided the consensus estimates for service revenue and adjusted EPS used for comparison.

🔍 Headline numbers show significant growth compared to a lower base year due to the $0.43 versus $1.43 EPS comparison.

📉 The revenue surprise indicates strong demand relative to Wall Street expectations for the first quarter of 2026.

Bullish Signals
  • Iron Mountain reported $1.94 billion in revenue for Q1, marking a strong 21.6% year-over-year increase.
  • The company significantly beat analyst expectations with revenue of $1.86 billion estimated versus the reported figure, and EPS of $1.39 estimated versus $1.43 actual.
  • Service Revenue jumped +30.6% year over year to $841.38 million, exceeding the two-analyst average estimate of $779.29 million.
  • Storage Rental Revenue grew +15.4% year-over-year to $1.09 billion, surpassing the consensus estimate of $1.08 billion.
  • Shares of Iron Mountain returned +13.4% over the past month, outperforming the Zacks S&P 500 composite's +12.2% change.
Risk Factors
  • The adjusted EPS of $0.6 million is significantly lower than the previous year's implied performance, as the reported quarterly figure compares to a prior period where the stock experienced substantial growth from an EPS of $0.43.
  • Shares are underperforming relative to the broader market with a +13.4% return over the past month versus the S&P 500 composite's +12.2%, indicating weak investor sentiment despite positive earnings beats.
  • The stock currently carries a Zacks Rank #3 (Hold), which signals that the company is expected to merely perform in line with the broader market rather than outperform peers.
Full Analysis
Iron Mountain (IRM) reported first-quarter earnings for the period ended March 2026, announcing total revenue of $1.94 billion, which marks a significant year-over-year increase of 21.6%. This figure exceeded the Zacks Consensus Estimate of $1.86 billion by approximately +4.31%. The company also delivered a robust earnings per share (EPS) of $1.43, up from $0.43 in the same quarter a year prior, surpassing the analyst consensus estimate of $1.39 by +2.88%. These headline numbers highlight a strong performance relative to Wall Street expectations and the previous fiscal period. Breaking down the revenue components, Service Revenue reached $841.38 million, reflecting a 30.6% year-over-year growth against an average analyst estimate of $779.29 million based on two analysts. Storage Rental Revenue came in at $1.09 billion, representing a +15.4% increase year over year and slightly beating the consensus estimate of $1.08 billion. Additionally, Adjusted EPS from Continuing Operations was reported at $0.6 million, compared to an average analyst projection of $0.52 million. Investors are encouraged to monitor these underlying metrics alongside headline figures to better project future stock price performance. Following the earnings release, Iron Mountain's shares have gained +13.4% over the past month, outperforming the Zacks S&P 500 composite index which saw a +12.2% change during the same period. Despite this positive momentum, the stock currently holds a Zacks Rank #3, which is classified as a "Hold," suggesting the stock may perform in line with the broader market in the near term. The report notes that analyzing key metrics provides deeper insight into company performance and aids investors in making more accurate projections regarding price action.