IRM · 8-K · 20261105PR000081
Operating Income and Margins
IRON MOUNTAIN INC · 2026-11-05 · Importance 57 · Surprise 38 · From source text
Third-quarter operating income rose 33.0% year over year to $410.6 million and increased 9.9% sequentially from $373.5 million. Operating margin was approximately 20.6% in Q3 2026, compared with 17.6% in Q3 2025 and 18.4% in Q2 2026, based on reported revenue and operating income. Adjusted EBITDA increased 13.3% year over year to $748.0 million, with a 37.6% margin unchanged year over year and up nearly 200 basis points sequentially. Management attributed adjusted EBITDA growth to higher revenue and EBITDA across each segment and improved operating leverage from transformation activities.
Key facts
- Q3 2026 operating income was $410.573 million, up 33.0% year over year. source
- Year-to-date 2026 operating income was $1.179 billion, up 43.3% year over year. source
- Q3 2026 Adjusted EBITDA was $747.958 million, up 13.3% year over year. source
- Year-to-date 2026 Adjusted EBITDA was $2.183 billion, up 16.8% year over year. source
- Q3 2026 Adjusted EBITDA margin was 37.6%, unchanged year over year. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +17.6% | Year-to-date 2026 operating income was $1.179 billion, up 43.3% year over year. |
| operating_income | positive | realized | +15.5% | Year-to-date 2026 Adjusted EBITDA was $2.183 billion, up 16.8% year over year. |
| operating_income | positive | realized | +5.0% | Q3 2026 operating income was $410.573 million, up 33.0% year over year. |
| operating_income | positive | realized | +4.3% | Q3 2026 Adjusted EBITDA was $747.958 million, up 13.3% year over year. |