Feb 12 (Reuters) – Iron Mountain forecast fiscal 2026 revenue above Wall Street estimates on Thursday, as enterprises ramp up spending on land leases to set up data centers powering artificial intelligence workloads.
A boom in generative artificial intelligence has spurred companies to invest heavily in building massive data centers to support training and running complex models, benefiting companies such as Iron Mountain, which helps build out such infrastructure.
Founded as a physical record management company, Iron Mountain has evolved its business from storing papers and documents to handling vast amounts of digital information for thousands of businesses.
Iron Mountain forecast annual revenue of between $7.63 billion and $7.78 billion, compared with estimates of $7.60 billion, according to data compiled by LSEG.
The company expects annual adjusted funds from operations of between $5.69 and $5.79 per share, compared with estimates of $5.73 per share.
It expects first-quarter revenue of around $1.86 billion, compared with estimates of $1.80 billion.
Revenue for the fourth quarter came in at $1.84 billion, beating estimates of $1.80 billion.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Tasim Zahid)
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