IRM Q3 2025 Earnings
Reported Nov 5, 2025 at 6:48 AM ET · SEC Source
Q3 25 EPS
$0.54
BEAT +2.45%
Est. $0.53
Q3 25 Revenue
$1.75B
BEAT +0.04%
Est. $1.75B
vs S&P Since Q3 25
+25.8%
BEATING MARKET
IRM +34.0% vs S&P +8.2%
Market Reaction
Did IRM Beat Earnings? Q3 2025 Results
Iron Mountain posted a solid third quarter, with earnings per share of $0.54 edging past the $0.53 consensus by 2.45% and revenue of $1.75 billion matching expectations while climbing 12.6% year over year, as the records management and data center RE… Read more Iron Mountain posted a solid third quarter, with earnings per share of $0.54 edging past the $0.53 consensus by 2.45% and revenue of $1.75 billion matching expectations while climbing 12.6% year over year, as the records management and data center REIT demonstrated broad momentum across its business. The standout driver was its data center segment, which generated $204.13 million in revenue with 32.1% organic growth and a sharply expanded Adjusted EBITDA margin of 52.6%, up from 43.6% a year ago, reflecting strong renewal pricing and near-full utilization of its 452 MW operating portfolio. The company also swung to GAAP net income of $86.24 million from a net loss of $33.66 million in the year-ago period, while Adjusted EBITDA rose 16.2% to $660.38 million. Iron Mountain reiterated full-year 2025 guidance calling for revenue of $6.79 billion to $6.94 billion and projects at least 25% data center revenue growth in 2026 from existing backlog alone, even as the stock has faced selling pressure in recent sessions amid broader market turbulence.
Key Takeaways
- • Growth businesses (data center, digital, ALM) collectively grew more than 30% YoY
- • Global RIM organic revenue growth of 5.0% with continued strong revenue management
- • Data center organic revenue growth of 32.1% with strong renewal pricing (+14% cash, +19% GAAP mark-to-market)
- • ALM organic revenue growth of 36% and reported growth of 65% YoY
- • Improved records retention rate to 93.2% and higher storage facility utilization at 80.8%
- • Data center churn remained low at 0.3%
- • Improved operating leverage from continued improvement activities
- • Record storage volume exceeding 743 million cubic feet
IRM YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
IRM Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased to report another quarter of very strong performance in the third quarter, achieving all-time record Revenue, Adjusted EBITDA, and AFFO with strength across all of our key metrics. Our continued success is the result of our team's consistent execution of our growth strategy and unwavering focus on meeting our customers' needs with innovative solutions.”
— William L. Meaney, Q3 2025 Earnings Press Release
IRM Earnings Trends
IRM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
IRM EPS Trend
Earnings per share: estimate vs actual
IRM Revenue Trend
Quarterly revenue: estimate vs actual
IRM Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.52 | $0.60 | +16.19% | $1.94B | +4.00% |
| Q4 25 BEAT FY | $0.59 | $0.61 | +3.81% | $1.84B | +2.21% |
| FY Full Year | — | $2.12 | — | $6.90B | — |
| Q3 25 BEAT | $0.53 | $0.54 | +2.45% | $1.75B | +0.04% |
| Q2 25 MISS | $0.50 | $0.48 | -4.23% | $1.71B | +1.70% |