WASHINGTON (dpa-AFX) - Iron Mountain (IRM) reported second quarter FFO - Normalized - of $303.73 million, an increase of 17.7% from a year ago. FFO - Normalized - per share was $1.01, compared with $0.87, an increase of 16.1%. AFFO was $432.7 million, compared with $369.7 million, an increase of 17.0%. AFFO per share was $1.44 for the second quarter, compared with $1.24 in the second quarter of 2025, an increase of 16.1%.
Net income for the second quarter was $106.1 million, compared with a loss of $43.3 million in the second quarter of 2025. Adjusted EBITDA was $727.0 million, compared with $628.4 million, last year, an increase of 15.7%. On a constant currency basis, adjusted EBITDA increased by 14.9% in the second quarter. Adjusted EPS was $0.60 compared to $0.48.
Total reported revenues were $2.0 billion, compared with $1.7 billion in the second quarter of 2025, an increase of 18.5%. Excluding the impact of foreign currency exchange, total reported revenues increased 17.6% compared to the prior year, driven by an 11.5% increase in storage rental revenue and a 26.3% increase in service revenue. Organic revenue growth was 16.8% year over year in the second quarter.
For full year 2026, the company now projects total revenue between $7.94 billion and $8.01 billion, representing approximately 16% year-over-year growth at the midpoint. This marks an increase from the previous guidance range of $7.825 billion to $7.925 billion. AFFO per share is guided at $5.87 to $5.93, representing approximately 14% year-over-year growth. Prior guidance was $5.79 to $5.86 per share.
For the third quarter, the company projects total revenue of approximately $1.98 billion, reflecting roughly 13% year-over-year growth. AFFO per share is expected at approximately $1.47, up roughly 11% year-over-year.
Iron Mountain's Board of Directors declared a quarterly cash dividend of $0.864 per share of common stock for the third quarter. The third quarter dividend is payable on October 2, 2026, to shareholders of record at the close of business on September 15, 2026.
In pre-market trading on NYSE, Iron Mountain shares are up 1.28 percent to $127.00.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
