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FY2026 Q1
상향
Iron Mountain Incorporated 실적 발표
Buzzberg 분석
First quarter organic growth of 17% is highest in over 25 years.
Iron Mountain reported a strong Q1 2026, with record revenue, EBITDA, and AFFO growth. Management raised full-year guidance and highlighted strength across data centers, ALM (driven by memory pricing), and government digital services. The call provided a positive outlook for the company's synergistic business model. Iron Mountain delivered Q1 FY2026 revenue of $1.94 billion (+22% YoY), with organic growth of 17%, its best in 25 years.
Buzzberg 분석 First quarter organic growth of 17% is highest in over 25 years. Iron Mountain reported a strong Q1 2026, with record revenue, EBITDA, and AFFO growth. Management raised full-year guidance and highlighted strength across data centers, ALM (driven by memory pricing), and government digital services. The call provided a positive outlook for the company's synergistic business model. Iron Mountain delivered Q1 FY2026 revenue of $1.94 billion (+22% YoY), with organic growth of 17%, its best in 25 years. 전체 분석 보기분석 접기
Iron Mountain reported a strong Q1 2026, with record revenue, EBITDA, and AFFO growth. Management raised full-year guidance and highlighted strength across data centers, ALM (driven by memory pricing), and government digital services. The call provided a positive outlook for the company's synergistic business model. Iron Mountain delivered Q1 FY2026 revenue of $1.94 billion (+22% YoY), with organic growth of 17%, its best in 25 years.
- Data center revenue grew 47% YoY to $255 million, and management raised 2026 leasing targets to 'meaningfully above' 100 MW.
- ALM revenue surged 92% to $232 million, driven by data center decommissioning and a favorable memory price environment; full-year ALM revenue guidance was raised to $950 million.
- Raised FY2026 guidance for revenue to $7.825-$7.925 billion and AFFO per share to $5.79-$5.86 on strong broad-based momentum.
ALM 매출232보고값
DATA_CENTER 매출255+8% 전분기 대비
매출$1.9361B+5% 전분기 대비
주당순이익(EPS)$0.60-58% 전분기 대비
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Mix
Growth businesses now exceed 30% of total revenue.
Demand
Leased 10MW in Amsterdam to new major cloud player.
핵심 내용 3개 더 보기
Guidance
Data center leasing expected to meaningfully exceed 100MW guidance.
Government
Government bookings were second-best in company history.
Pricing
Memory prices stabilized in line with original guidance.
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| ALM 매출 | 232 | 보고값 |
| DATA_CENTER 매출 | 255 | +8% 전분기 대비 |
| 매출 | $1.9361B | +5% 전분기 대비 |
| 주당순이익(EPS) | $0.60 | -58% 전분기 대비 |
| 매출총이익률 | 54.04% | 보고값 |
| 영업이익률 | 20.41% | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 주당순이익(EPS) | FY2026 | $5.79–$5.86 | $5.83 | 상향 |
| 주당순이익(EPS) | FY2026 Q2 | $1.40 | $1.40 | 제시 |
| 매출 | FY2026 | $7.825B–$7.925B | $7.875B | 상향 |
| 매출ALM | FY2026 | 950 | 950 | 상향 |
| 매출 | FY2026 Q2 | $1.965B | $1.965B | 제시 |
AI, 자본지출 및 수요 분석
경영진 분석
Upbeat
Management expressed strong enthusiasm and confidence, citing record results, increased guidance, and a robust pipeline across multiple growth businesses.
경영진의 AI 분석
Management highlighted the success of DXP, their AI-powered digital solutions platform, which continues to win contracts, including a deal with a Brazilian clinical diagnostics firm to process over 20 million medical records. They also received FedRAMP high authorization for their digital services suite, which will improve their competitive position in the U.S. public sector for mission-critical w
투자 및 생산능력
Management increased future data center development capacity in Northern Virginia by 20% to 195 megawatts, but maintained full-year CapEx guidance to be slightly down from last year. They emphasized that they are not a speculative builder, with most construction pre-leased, and they have 400 megawatts of capacity energizing over the next 24 months.
아래에 언급된 기업 4개 모두 표시
기업발표 이후 수익률
고객
고객
Bill Meany
Meta's elongated server refresh cycles (a customer of ALM decommissioning services) could reduce near-term ALM volume from hyperscalers, although Iron Mountain sees offsetting opportunities from OEMs.
근거
“Meta recently announced it will be extending the use of the life of non-AI servers in some cases to seven years due to server supply availability.”
파트너
파트너
Bill Meany
Iron Mountain's digital solutions business (DXP) is recognized by Google, indicating a strong ongoing partnership in AI and media workflows.
근거
“Additionally, we won another Google Partner of the Year this month for media and entertainment, adding to the 2018 Google Partner of the Year award for AI and machine learning.”
공급망
공급망
Bill Meany
OEMs are buying used memory harvested by Iron Mountain from decommissioned servers to address component shortages, creating a new revenue stream and tight supply loop. — This validates memory scarcity and indicates that secondary markets are being tapped to fill supply gaps, which could impact OEM supply chain strategies and new memory pricing dynamics.
근거
“we've seen more and more OEMs now asking for us to sell used memory that we're harvesting from other customers, which they're reintroducing into their new product supply chain...”
외부 신호
공급망 알파 · 3발표 이후 수익률
OEMs are buying used memory harvested by Iron Mountain from decommissioned servers to address component shortages, creating a new revenue stream and tight supply loop.
Per Barry Heitkamp, sequential Q2 comp will have a harder compare on revenue management since most price increases were implemented in late January vs. last year where full benefit hit in Q2.
근거
“when you think about the comps year to year, there's a little bit of a harder comp in the second quarter for us on revenue management specifically.”
Despite the memory price moderation in late March/April, the company raised full-year ALM revenue guidance to $950M, attributing $60M to H2 volume in data center decommissioning and enterprise growth.
근거
“With that said, we are increasing our full year outlook for ALM revenue to $950 million... The additional 60 million will be driven over the balance of the year by volume...”
방법론 및 범위
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