Iron Mountain Incorporated (IRM) Earnings Call Transcripts
Iron Mountain Incorporated's Latest Earnings Call - September 8, 2026
In the third quarter of fiscal year 2026, Iron Mountain Incorporated (IRM) reported substantial growth driven by its data center and asset life cycle management (ALM) businesses. The company achieved revenues exceeding $1 billion in its data center segment and projected ALM revenues to reach approximately $1 billion for the year, reflecting nearly 90% year-over-year growth. Management maintained a positive outlook, expecting the growth portfolio to continue expanding at over 20% annually, signaling strong demand and cross-selling opportunities within its existing client base.
Reported metrics
| Metric | Value |
|---|---|
| Total Revenue | $1B+ (beat) |
| ALM Revenue | $1B (beat) |
| Digital Solutions Growth | 20% (beat) |
| Data Center Revenue | $1B (beat) |
| Renewal Spreads | 12% (inline) |
| Weighted Average Lease Expiration | 10+ years (positive) |
Guidance from management
Management expects the growth portfolio to continue expanding at over 20% annually, with ALM and data center businesses driving significant revenue increases. Guidance for ALM revenue was raised to approximately $1 billion for the year.
What management said
Yes. So in our situation in almost all of our leases there either for core cloud or inference as you mentioned. And more and more of the pipeline is becoming AI-oriented inference. And so what -- the general differences is they want more density, and they want traditionally the availability to do more liquid cooling. And so that does increase the price per megawatt to build. But as that also increases the relative pr...
What analysts pressed on
Analysts expressed concerns about the sustainability of margins given the lower-margin nature of the ALM business and potential risks associated with power delivery for data centers. There were questions regarding the competitive landscape and pricing pressures in the digital solutions segment.
Main topics on the call
- Data Center Growth — Iron Mountain's data center business is projected to exceed $1 billion in revenue this year, with contracts signed for future growth expected to increase the business by 40%. Barry Hytinen stated, "We have very good asse...
- Asset Life Cycle Management Expansion — The ALM business is projected to grow to approximately $1 billion this year, with significant cross-selling opportunities identified. Hytinen noted, "The TAM for ALM is very large... and we think that business will ultim...
- Digital Solutions Growth — The digital solutions segment grew 20% in the most recent quarter, benefiting from AI-related projects. Hytinen remarked, "The digital business is becoming more recurring revenue and more software as a service with each ...
- Stable Records Management — The physical records management business remains stable with slight volume growth expected. Hytinen emphasized, "We love that business because it's very cash generative and it's super durable."
Read the full Iron Mountain Incorporated transcript (September 8, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Iron Mountain Incorporated
Iron Mountain Incorporated (IRM) is a publicly listed company in the Specialized REITs industry, within the Real Estate sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 66 calls on record spanning February 13, 2020 to September 8, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 66 Iron Mountain Incorporated earnings call transcripts on record, spanning February 13, 2020 to September 8, 2026. Based on this history, Iron Mountain Incorporated reports quarterly. The most recent call on file is dated September 8, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- IRM
- Exchange
- NYSE
- Country
- US
- Sector
- Real Estate
- Industry
- Specialized REITs
- Calls on record
- 66
- First call
- February 13, 2020
- Most recent
- September 8, 2026
- Reporting cadence
- quarterly