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Core Insights - The article emphasizes the importance of unique insights and knowledge in stock analysis, aiming to provide contrasting views on investment portfolios [1] Group 1 - The analyst expresses a commitment to sharing personal opinions and insights without any financial compensation from the companies mentioned [2] - The analysis is intended for informational purposes only, highlighting the necessity for investors to conduct their own research and due diligence [3] - There is a clear disclaimer that past performance does not guarantee future results, and no specific investment recommendations are made [4]

Key Takeaways Iron Mountain beat Q4 estimates with AFFO of $1.44 and revenues of $1.84B, up 16% year over year.IRM saw 39.1% revenue growth in Global Data Center and 9.1% growth in Global RIM.IRM guides 2026 AFFO of $5.69-$5.79 and revenues of $7.625-$7.775B.Iron Mountain Incorporated’s (IRM) fourth-quarter 2025 adjusted funds from operations (AFFO) per share of $1.44 outpaced the Zacks Consensus Estimate of $1.39. Total revenues of $1.84 billion surpassed the Zacks Consensus Estimate of $1.80 billion.AFFO ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13045 _________________________________________________________ IRON MOUNTAIN INCORPORATED (Exact name of Registrant as ...

Core Insights - Iron Mountain Incorporated (IRM) reported fourth-quarter adjusted funds from operations (AFFO) per share of $1.44, exceeding the Zacks Consensus Estimate of $1.39, marking a 16.1% year-over-year increase [1][9] - The company's total quarterly revenues reached $1.84 billion, surpassing the Zacks Consensus Estimate of $1.80 billion, and reflecting a 16.6% year-over-year growth [2][3] Financial Performance - For the full year 2025, IRM's AFFO per share was $5.17, up 13.9% year over year, also beating the Zacks Consensus Estimate of $5.11 [3] - Revenues for the full year amounted to $6.90 billion, a 12.2% increase year over year, exceeding the consensus mark of $6.86 billion [3] Segment Performance - Storage rental revenues in Q4 were $1.06 billion, up 12.6% year over year [4] - Service revenues increased by 22.4% year over year to $782 million [4] - Global RIM business revenues grew 9.1% year over year to $1.37 billion [4] - Global Data Center business reported revenues of $236.7 million in Q4, rising 39.1% year over year [4] - Adjusted EBITDA rose 16.6% year over year to $705.3 million, with an unchanged adjusted EBITDA margin of 38.3% [4] Interest Expenses and Balance Sheet - Interest expenses increased by 13% year over year to $219.8 million in the quarter [5] - As of December 31, 2025, IRM had net debt of $16.39 billion, up from $16.11 billion as of September 30, 2025, with a weighted average interest rate of 5.6% [6] Dividend Announcement - Concurrently with the fourth-quarter earnings release, IRM announced a cash dividend of 86.4 cents per share for the first quarter of 2026, payable on April 3, 2026 [7] Guidance for Future Performance - For Q1 2026, Iron Mountain expects AFFO per share of $1.39 and revenues estimated at $1.855 billion [8] - For the full year 2026, the company anticipates AFFO per share between $5.69 and $5.79, with revenues projected in the range of $7.625 billion to $7.775 billion [10]

Iron Mountain (NYSE:IRM) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsBarry Hytinen - EVP and CFOBill Meaney - President and CEOMark Rupe - SVP of Investor RelationsShlomo Rosenbaum - Managing DirectorConference Call ParticipantsAndrew Steinerman - AnalystBrendan Lynch - AnalystEric Luebchow - AnalystGeorge Tong - AnalystJonathan Atkin - AnalystNate Crossett - AnalystTobey Sommer - AnalystOperatorGood morning, and welcome to the Iron Mountain Fourth Quarter 2025 Earnings Conferenc ...

Iron Mountain (NYSE:IRM) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsBarry Hytinen - EVP and CFOBill Meaney - President and CEOMark Rupe - SVP of Investor RelationsConference Call ParticipantsAndrew Steinerman - AnalystBrendan Lynch - AnalystEric Luebchow - AnalystGeorge Tong - AnalystJonathan Atkin - AnalystNate Crossett - AnalystTobey Sommer - AnalystOperatorGood morning, and welcome to the Iron Mountain Fourth Quarter 2025 Earnings Conference Call. All participants will be in ...

Financial Data and Key Metrics Changes - The company reported a record performance in Q4 2025, achieving a 17% year-over-year growth in revenue, with total revenue reaching $1.84 billion, an increase of $262 million compared to the previous year [3][19] - For the full year 2025, revenue increased 12% to $6.9 billion, Adjusted EBITDA grew 15% to $2.6 billion, and AFFO increased 15% to $1.5 billion [3][23] - Adjusted EBITDA margin improved to 38.3%, the highest level reported to date, with Adjusted EBITDA of $705 million in Q4, up 17% year-over-year [21][22] Business Line Data and Key Metrics Changes - Data center revenue increased by 30% in 2025, with a remarkable 39% growth in Q4 alone, driven by strong leasing activity [4][26] - Asset Lifecycle Management (ALM) revenue surged 63% in total for 2025, with 40% organic growth, and 56% organic growth in Q4 [6][27] - Digital solutions revenue surpassed $500 million in 2025, reflecting double-digit growth, with a strong pipeline for future contracts [7] Market Data and Key Metrics Changes - The company anticipates over 25% revenue growth in the data center segment for 2026, supported by a strong backlog and leasing momentum [5][31] - The physical storage business achieved record revenue growth at a mid-single-digit rate, marking the 37th consecutive year of organic storage rental revenue growth [9][24] Company Strategy and Development Direction - The company aims to sustain industry-leading revenue and earnings growth into 2026 and beyond, capitalizing on robust demand in the data center industry and expanding its ALM and digital solutions businesses [4][10] - The company is focused on cross-selling opportunities within its existing customer base, leveraging its established relationships to drive growth [9][60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering another record year in 2026, with guidance for total revenue between $7.625 billion and $7.775 billion, representing a year-on-year growth of 12% at the midpoint [31] - The company highlighted the importance of its legacy physical storage business as a strong foundation for cash flow and growth investments [8][10] Other Important Information - The company declared a quarterly dividend of $0.864 per share, a 10% increase from the previous year, reflecting its commitment to returning value to shareholders [28] - The company plans to invest $2.0 billion in growth capital expenditures in 2026, focusing on pre-leasing strategies before commencing construction [29] Q&A Session Summary Question: Can you discuss the data center pipeline and leasing activity? - Management noted strong momentum with over 40 megawatts of leasing in Q4 and highlighted key markets such as Northern Virginia, Richmond, Madrid, and India as areas of significant interest [35][36] Question: What is the momentum in the ALM business for organic growth this year? - Management indicated a strong outlook for the ALM business, forecasting upwards of 20% organic growth, driven by both new customer acquisitions and increased penetration within existing accounts [40][45] Question: How much of the ALM growth came from volumes versus pricing? - Management stated that the growth was balanced between hyperscale and enterprise segments, with strong pricing trends contributing positively to revenue [48][50] Question: Can you elaborate on gross margin trends in the services business? - Management explained that while total gross margin is affected by mix, services gross margin improved significantly, indicating strong operational execution and pricing strategies [52][54] Question: What is the M&A landscape for ALM and data centers? - Management expressed that while they do not foresee significant M&A activity in the data center space, they remain open to opportunities in the ALM market to expand their global footprint [57][61] Question: What are the expectations for the U.S. Department of Treasury contract? - Management expects to generate at least $45 million from the Treasury contract in 2026, with potential for this to ramp up to around $100 million as the outsourcing process progresses [76][78]

分组1 - Iron Mountain reported quarterly earnings of $1.44 per share, exceeding the Zacks Consensus Estimate of $1.39 per share, and showing a significant increase from $0.5 per share a year ago, resulting in an earnings surprise of +3.35% [1] - The company posted revenues of $1.84 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.18%, and up from $1.58 billion in the same quarter last year [2] - Iron Mountain's shares have increased approximately 20.8% since the beginning of the year, significantly outperforming the S&P 500's gain of 1.4% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $1.32 on revenues of $1.8 billion, and for the current fiscal year, it is $5.69 on revenues of $7.58 billion [7] - The Zacks Industry Rank indicates that the Business - Information Services sector is currently in the bottom 34% of over 250 Zacks industries, suggesting potential challenges for stock performance [8]

IRON MOUNTAIN Q1 2025 Earnings Presentation IRON MOUNTAIN Q4 2025 Earnings Presentation February 12, 2026 FORWARD LOOKING STATEMENTS We have made statements in this presentation that constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements concern our current expectations regarding our future results from operations, economic performance, financial condition, goals, strategies, investme ...