IRM · Earnings call · 2026Q2T · Full report
Guidance and Outlook
IRON MOUNTAIN INC · 2026-08-05 · Importance 85 · Surprise 76 · Contradicted
Management raised full-year 2026 guidance to revenue of $7.94 billion-$8.01 billion, adjusted EBITDA of $2.945 billion-$2.975 billion, and AFFO of $1.76 billion-$1.78 billion, reflecting 16%, 15%, and 15% midpoint growth, respectively. Third-quarter 2026 guidance is approximately $1.98 billion of revenue, $745 million of adjusted EBITDA, and $440 million of AFFO. Management expects continued double-digit growth, with ALM revenue approaching $1 billion for 2026 and enterprise ALM growth remaining strong in the second half.
Key facts
- IRON MOUNTAIN INC updated full year 2026 guidance: total revenue $7.94 billion to $8.01 billion (midpoint ~16% growth), adjusted EBITDA $2.945 billion to $2.975 billion (midpoint ~15% growth), AFFO $1.76 billion to $1.78 billion or $5.87 to $5.93 per share (midpoint 15% and 14% growth respectively).
- IRON MOUNTAIN INC Q3 2026 expectations: revenue approximately $1.98 billion and adjusted EBITDA approximately $745 million (both +13% YoY); AFFO approximately $440 million (+12% YoY) or $1.47 per share.
- IRON MOUNTAIN INC expects full year 2026 ALM revenue to approach $1 billion (updated outlook).
- IRON MOUNTAIN INC stated that on the same FX rates as previous guidance, updated full year outlook at midpoint represents incremental +$125 million revenue, +$25 million adjusted EBITDA, +$35 million AFFO, and +$0.10 AFFO per share (with second-half splits noted).
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | +41.9% | IRON MOUNTAIN INC expects full year 2026 ALM revenue to approach $1 billion (updated outlook). |
| revenue | positive | committed | +5.2% | IRON MOUNTAIN INC stated that on the same FX rates as previous guidance, updated full year outlook at midpoint represents incremental… |
| net_income | positive | committed | +1.5% | IRON MOUNTAIN INC stated that on the same FX rates as previous guidance, updated full year outlook at midpoint represents incremental… |
| operating_income | positive | committed | +1.1% | IRON MOUNTAIN INC stated that on the same FX rates as previous guidance, updated full year outlook at midpoint represents incremental… |
| revenue | positive | committed | — | IRON MOUNTAIN INC updated full year 2026 guidance: total revenue $7.94 billion to $8.01 billion (midpoint ~16% growth), adjusted EBITDA… |
| operating_income | positive | committed | — | IRON MOUNTAIN INC updated full year 2026 guidance: total revenue $7.94 billion to $8.01 billion (midpoint ~16% growth), adjusted EBITDA… |
| net_income | positive | committed | — | IRON MOUNTAIN INC updated full year 2026 guidance: total revenue $7.94 billion to $8.01 billion (midpoint ~16% growth), adjusted EBITDA… |
| revenue | positive | committed | — | IRON MOUNTAIN INC Q3 2026 expectations: revenue approximately $1.98 billion and adjusted EBITDA approximately $745 million (both +13%… |
| operating_income | positive | committed | — | IRON MOUNTAIN INC Q3 2026 expectations: revenue approximately $1.98 billion and adjusted EBITDA approximately $745 million (both +13%… |
| net_income | positive | committed | — | IRON MOUNTAIN INC Q3 2026 expectations: revenue approximately $1.98 billion and adjusted EBITDA approximately $745 million (both +13%… |