Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.

Iron Mountain appears to be a company with steady growth in revenue and operating profit, but with a notable balance sheet burden and less-than-comfortable liquidity. Revenue increased to 1.936 billion, EBITDA to 671 million, and operating profit to 395 million, which supports the investment case and indicates normal business scaling. At the same time, net income and EPS remain positive and are improving, but the net margin is only 3.75%, which looks modest from a valuation perspective. ROA and ROI remain below industry benchmarks, while ROE and return on tangible equity do not provide a strong signal of high capital efficiency. The balance sheet calls for caution: long-term debt of 15.494 billion, combined with negative shareholders’ equity and liabilities rising to 21.316 billion, points to elevated financial risk. Current and quick ratios are weak, limiting the cushion in the event of deteriorating cash flow or refinancing needs. The valuation picture is mixed: P/E is very high relative to the industry, and P/S is also above the median, meaning the market is already pricing in significant expectations for future growth. P/B and P/FCF look distorted due to the structure of the capital base and cash flow, so they should be interpreted cautiously rather than as a clear undervaluation signal. The dividend yield of around 0.68% does not look like a strong argument for a re-rating to the upside, especially given the debt burden. Overall, the fundamentals support the business as stable and growing in scale, but do not justify an aggressive increase in the target price. Given the expensive multiples, weak liquidity, and high debt, the adjustment should be moderately negative and conservative.

Iron Mountain Incorporated (Delaware)

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Средний индекс, значительно упал. Рынок не поддерживает быков.

Medium index, significantly down. The market does not support the bulls.

Средний индекс, значительно упал. Отток средств из лонгов резко увеличился и находится на высоком уровне.

Medium index, significantly down. The outflow of funds from longs has increased sharply and is at a high level.

Revenue and EBITDA growth supports the IRM investment case, but high P/E, weak liquidity, and substantial debt limit re-rating potential.

Iron Mountain IRM is a well-established REIT that serves more than 240,000 customers worldwide. Its records storage business generates dependable recurring revenues, while its growing data center, digital solutions and asset lifecycle services are creating new growth opportunities. Recent acquisitions and investments have strengthened its market position and broadened its service offerings.
The company still faces a few challenges. Demand for paper records is gradually declining, while competition can limit pricing power. In addition, its relatively high debt and interest costs, along with currency fluctuations, could weigh on earnings.
In the past three months, shares of this Zacks Rank #3 (Hold) company have gained 4.2% compared with the industry's growth of 3.1%.
Image Source: Zacks Investment Research
What Aids IRM?
Iron Mountain continues to benefit from the stability of its records storage business, which generates predictable recurring cash flow. In the first quarter of 2026, consolidated storage rental revenues increased 15.5% year over year, while Global Records and Information Management storage rental revenues rose 8.7%. Organic storage rental revenues grew 12.4%. This steady income provides funding for the company's expansion into higher-growth businesses.
The data center business remains Iron Mountain's strongest growth driver. First-quarter 2026 data center revenues climbed 47.1% year over year to $254.7 million, while the adjusted EBITDA margin remained healthy 52.1%. The operating portfolio expanded to 507.2 MW and was 97.2% leased, reflecting solid customer demand.
Growth is also coming from digital solutions and asset lifecycle management. These businesses, including data centers, expanded by more than 50% year over year during the first quarter of 2026, while consolidated service revenues increased 30.6% to $841 million. Recent acquisitions have broadened Iron Mountain's services, further expanding its scale.
The company's financial performance remains strong. First-quarter 2026 revenues rose 21.6% to $1.94 billion, adjusted EBITDA increased 22.1% to $708 million, and AFFO climbed 22.3% to $426 million or $1.43 per share. Management also raised its full-year 2026 outlook, reflecting confidence in continued earnings growth, while steady dividend increases further support the long-term investment case.
What’s Hurting IRM?
Iron Mountain's traditional records storage business faces a long-term challenge as customers continue shifting from paper documents to digital storage. This trend could gradually reduce demand for physical storage and related services, making future growth increasingly dependent on pricing and newer business lines. Intense competition across the records management industry also limits pricing power and can pressure margins.
The company's international operations add another layer of uncertainty. Foreign currency movements can reduce reported revenues and EBITDA, while relatively higher labor costs in some overseas markets can weigh on profitability during slower demand periods.
Iron Mountain also operates with a sizeable debt load. As of March 31, 2026, net debt stood at about $17.0 billion, while first-quarter 2026 net interest expense increased 14.9% year over year to $223.8 million. Rising borrowing expenses can reduce cash flow and limit financial flexibility for future investments.
Stock to Consider
Some better-ranked stocks from the broader REIT industry are Host Hotels & Resorts HST and Vornado Realty Trust VNO, carrying a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for HST’s 2026 FFO per share has moved up marginally to $2.13 over the past month.
The consensus estimate for VNO’s 2026 FFO per share has moved up marginally to $2.34 over the past two months.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is IRM Stock Worth Retaining in Your Portfolio for the Long Run?

Iron Mountain Incorporated IRM shares have rallied 30.2% in the past three months compared with the industry’s growth of 10.2%.
Iron Mountain’s recurring storage rental revenues remain resilient through pricing and strong retention, while rapid data center expansion, robust leasing demand, and growing digital and asset lifecycle management businesses continue to drive growth and diversify revenues beyond traditional records storage.
Analysts seem bullish on this Zacks Rank #3 (Hold) stock. The Zacks Consensus Estimate for its 2026 AFFO per share has been revised northward by 13 cents to $5.85 over the past two months.
Image Source: Zacks Investment Research
Factors Behind IRM Stock’s Price Surge
Iron Mountain continues to rely on highly recurring storage rental revenues, supported by pricing, revenue management and strong customer retention. In the first quarter of 2026, consolidated storage rental revenues increased 15.4% year over year, while Global RIM storage rental grew 8.7%. These results indicate that pricing and revenue management continue to help offset gradual declines in physical storage volumes. Management also highlighted that the physical records storage business delivered its best quarterly growth in years, helping fund investment in faster-growing offerings.
The Global Data Center business remains Iron Mountain's primary growth engine, benefiting from sustained enterprise and hyperscale demand for secure, interconnected capacity. In the first quarter of 2026, data center revenues increased 47.1% year over year to $254.7 million, driven primarily by 46% increase in storage rental revenues, while adjusted EBITDA margin remained above 50% at 52.1%. The operating portfolio reached 507.2 megawatt (MW) from 424.2 MW a year ago and was 97.2% leased, reflecting strong utilization. Leasing activity remained healthy, with 21,849 kilowatt (KW) of new and expansion leases signed during the quarter.
Management reported 32 MW of data center leasing from the beginning of the year through April 2026, suggesting demand carried into the early second quarter. Churn remained low at 0.4%, while cash mark-to-market was 12%, pointing to pricing power on renewals. The development pipeline also expanded, with 181.5 MW under construction and 684.2 MW held for future development, bringing total potential data center capacity to 1.37 gigawatt (GW). This robust pipeline supports the company’s strategy to build and energize capacity ahead of demand and sustain high growth rates as more sites come online.
Iron Mountain is broadening beyond traditional records storage through digital and asset lifecycle management capabilities that management is increasingly cross-selling across its large customer base. Management said that the data center, digital and ALM businesses grew more than 50% year over year in first-quarter 2026, while consolidated service revenues rose 30.6% year over year to $841 million.
Within Global RIM, service revenues increased 16.5% year over year, indicating healthy demand for higher-value services alongside storage. Recent acquisitions in IT asset disposition and logistics capabilities extend the lifecycle offering set and deepen customer relationships, which can improve wallet share over time, even as paper-based workflows evolve. The company’s global footprint and broad customer mix also help scale these newer offerings across regions and industries.
Key Concerns for Iron Mountain
Competition from other industry players is likely to lead to aggressive pricing pressure and hurt Iron Mountain’s prospects. High interest expenses and adverse foreign currency movements remain a concern.
Stocks to Consider
Some better-ranked stocks from the broader REIT sector are Lamar Advertising LAMR and Vornado Realty Trust VNO, each carrying a Zacks Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for LAMR’s 2026 FFO per share is pegged at $8.81, which indicates year-over-year growth of 6.66%.
The Zacks Consensus Estimate for VNO’s full-year FFO per share is pinned at $2.34, which calls for an increase of 0.86% from the year-ago period.
Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.
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Iron Mountain Stock Up 30.2% in Three Months: Will the Trend Continue?

Key Points
Iron Mountain has a star-studded customer list that fuels high annual dividend hikes.
Revenue has been accelerating as AI capital pours into the company's coffers.
Shares of the information storage specialist also come with a solid yield of close to 3%.
Iron Mountain (NYSE: IRM) works with some of the largest companies on the planet. More than 95% of Fortune 500 corporations and over 240,000 businesses count on Iron Mountain to store physical and digital assets.
Its data centers have gained momentum due to the artificial intelligence (AI) boom, and that's part of the reason the stock has more than doubled over the past five years. The rally doesn't appear to be over, as fundamentals remain strong.
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Iron Mountain has a customer list that is hard to beat
Not only does Iron Mountain have a large customer base, but it has also been working with some of the top businesses for decades. Banks, governments, tech giants, and other companies have been customers for multiple decades.
Once customers start using Iron Mountain, they tend to stick around. The company has a 98% retention rate and gets to raise its prices as customers demand more physical and digital space. Iron Mountain's customers have the flexibility to pay more when needed, and that's made it easy for the real estate investment trust to deliver double-digit year-over-year revenue growth rates for several consecutive quarters, including Q1. Total sales were up by 21.6% year over year during that quarter.
Iron Mountain was recently named a 2026 Google Cloud Partner of the Year in the Business Applications category. That's a notable achievement since Alphabet is a long-term customer. Google's parent company will likely stick around, and the award suggests other cloud providers will continue to use Iron Mountain's service. Accolades like these can also attract new customers.
Revenue growth has been accelerating in recent quarters. The company delivered 16.6% year-over-year revenue growth in Q4 and 12.6% year-over-year growth in Q3. The growth rate is trending upward, and that has helped the stock beat the S&P 500 year to date.
A solid yield is hard to find with this type of growth
Iron Mountain's financial growth comes from a diversified group of customers. Rising AI spend also positions the company to accelerate revenue growth in future quarters. While Iron Mountain's service is a valuable component of the AI build-out, it's one of the few growth stocks that comes with a solid dividend yield.
The yield is nearly 3% right now, and the company raises its quarterly dividend at least once per year. It has hiked its dividend twice per year in some instances. The company's most recent dividend hike came in November 2025, when the quarterly dividend went from $0.785 per share to $0.864 per share, marking a 10% year-over-year increase.
A 10% dividend growth rate is one of the best indicators of a financially robust company that is still gaining market share. The high yield, impressive dividend growth rate, and star-studded customer pool make Iron Mountain worth closer consideration.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Iron Mountain: High Yield and Reliable Revenue From the Largest Companies

Looking at the universe of stocks we cover at Dividend Channel, on 6/15/26, Iron Mountain Inc (Symbol: IRM) will trade ex-dividend, for its quarterly dividend of $0.864, payable on 7/3/26. As a percentage of IRM's recent stock price of $126.37, this dividend works out to approximately 0.68%, so look for shares of Iron Mountain Inc to trade 0.68% lower — all else being equal — when IRM shares open for trading on 6/15/26.
In general, dividends are not always predictable; but looking at the history above can help in judging whether the most recent dividend from IRM is likely to continue, and whether the current estimated yield of 2.73% on annualized basis is a reasonable expectation of annual yield going forward. The chart below shows the one year performance of IRM shares, versus its 200 day moving average:
Looking at the chart above, IRM's low point in its 52 week range is $77.77 per share, with $134.09 as the 52 week high point — that compares with a last trade of $125.70.
According to the ETF Finder at ETF Channel, IRM makes up 5.95% of the AGF U.S. Market Neutral Anti-Beta Fund ETF (Symbol: BTAL) which is trading lower by about 0.3% on the day Friday. (see other ETFs holding IRM).
In Friday trading, Iron Mountain Inc shares are currently up about 1% on the day.
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Further IRM Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ex-Div Reminder for Iron Mountain (IRM)

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio S&P 500 High Dividend ETF (Symbol: SPYD) where we have detected an approximate $162.5 million dollar outflow -- that's a 2.2% decrease week over week (from 156,200,000 to 152,800,000). Among the largest underlying components of SPYD, in trading today APA Corp (Symbol: APA) is off about 0.4%, Skyworks Solutions Inc (Symbol: SWKS) is off about 0.2%, and Iron Mountain Inc (Symbol: IRM) is lower by about 0.1%. For a complete list of holdings, visit the SPYD Holdings page » The chart below shows the one year price performance of SPYD, versus its 200 day moving average:
Looking at the chart above, SPYD's low point in its 52 week range is $41.6754 per share, with $48.53 as the 52 week high point — that compares with a last trade of $47.70. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further SPYD Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable ETF Outflow Detected - SPYD, APA, SWKS, IRM

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Clean Harbors (CLH) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Clean Harbors is a member of the Business Services sector. This group includes 233 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Clean Harbors is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CLH's full-year earnings has moved 4.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CLH has returned 22.3% so far this year. In comparison, Business Services companies have returned an average of -10.4%. This means that Clean Harbors is outperforming the sector as a whole this year.
Iron Mountain (IRM) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 54.8%.
Over the past three months, Iron Mountain's consensus EPS estimate for the current year has increased 3.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Clean Harbors belongs to the Waste Removal Services industry, which includes 21 individual stocks and currently sits at #105 in the Zacks Industry Rank. On average, stocks in this group have lost 7.8% this year, meaning that CLH is performing better in terms of year-to-date returns.
In contrast, Iron Mountain falls under the Business - Information Services industry. Currently, this industry has 7 stocks and is ranked #33. Since the beginning of the year, the industry has moved -1.4%.
Clean Harbors and Iron Mountain could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.
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Are Business Services Stocks Lagging Clean Harbors (CLH) This Year?

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.
By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
Iron Mountain (IRM) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Here are three of the most important factors that make the stock of this real estate investment trust a great growth pick right now.
Earnings Growth
Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for Iron Mountain is 3.3%, investors should actually focus on the projected growth. The company's EPS is expected to grow 175.7% this year, crushing the industry average, which calls for EPS growth of 10.8%.
Cash Flow Growth
Cash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.
Right now, year-over-year cash flow growth for Iron Mountain is 16.3%, which is higher than many of its peers. In fact, the rate compares to the industry average of 6.8%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 10.3% over the past 3-5 years versus the industry average of 8.3%.
Promising Earnings Estimate Revisions
Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The current-year earnings estimates for Iron Mountain have been revising upward. The Zacks Consensus Estimate for the current year has surged 2.8% over the past month.
Bottom Line
While the overall earnings estimate revisions have made Iron Mountain a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination positions Iron Mountain well for outperformance, so growth investors may want to bet on it.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Reasons Growth Investors Will Love Iron Mountain (IRM)

In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Hartford Insurance Group Inc (Symbol: HIG) has taken over the #263 spot from Iron Mountain Inc (Symbol: IRM), according to The Online Investor.
Market capitalization is an important data point for investors to keep an eye on, for various reasons. The most basic reason is that it gives a true comparison of the value attributed by the stock market to a given company's stock. Many beginning investors look at one stock trading at $10 and another trading at $20 and mistakenly think the latter company is worth twice as much — that of course is a completely meaningless comparison without knowing how many shares of each company exist. But comparing market capitalization (factoring in those share counts) creates a true "apples-to-apples" comparison of the value of two stocks. In the case of Hartford Insurance Group Inc (Symbol: HIG), the market cap is now $37.47 billion, versus Iron Mountain Inc (Symbol: IRM) at $37.43 billion.
Below is a chart of Hartford Insurance Group Inc versus Iron Mountain Inc plotting their respective size rank within the S&P 500 over time (HIG plotted in blue; IRM plotted in green):
Below is a three month price history chart comparing the stock performance of HIG vs. IRM:
Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers — much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). This can have a direct impact on which mutual funds and ETFs are willing to own the stock. For instance, a mutual fund that is focused solely on Large Cap stocks may for example only be interested in those companies sized $10 billion or larger. Another illustrative example is the S&P MidCap index which essentially takes the S&P 500 index and "tosses out" the biggest 100 companies so as to focus solely on the 400 smaller "up-and-comers" (which in the right environment can outperform their larger rivals). So a company's market cap, especially in relation to other companies, carries great importance, and for this reason we at The Online Investor find value to putting together these rankings daily.
Examine the full HIG market cap history vs. the full IRM market cap history.
At the closing bell, HIG is off about 0.6%, while IRM is up about 1.2% on the day Thursday.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Hartford Insurance Group Now #263 Largest Company, Surpassing Iron Mountain

For Immediate Release
Chicago, IL – May 15, 2026 – Today, Zacks Investment Ideas feature highlights Iron Mountain IRM, Cisco CSCO and nVent Electric NVT.
Data Center Trends Lead to Record Results for These 3 Companies
The 2026 Q1 earnings season is nearing its end for S&P 500 members, with just a small portion yet to report their results. It’s been another period of momentum and strength, with both earnings and revenue growth remaining rock-solid across the board.
So far, several companies have posted notably strong results, including Iron Mountain, Cisco and nVent Electric, which each set quarterly sales records and are enjoying momentum thanks to the AI buildout.
Cisco Sees Record Demand
With an industry-leading networking portfolio, AI-native security solutions, and operating systems, Cisco is well-positioned to provide the critical infrastructure for the AI era.
Sales of $15.8 billion reflected a record for the company, also exceeding the high end of its prior guidance. The company noted broad-based, record-high demand for its technology, with overall product orders growing by a sizable 35% YoY. Importantly, data center switching orders grew 40% from the year-ago period, underpinning its important role amid the buildout.
Favorable EPS revisions for its current and next fiscal year have helped land it into a Zacks Rank #2 (Buy), with shares also soaring throughout 2026.
nVent Electric Soars
nVent Electric designs, manufactures, markets, installs, and services high-performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings, and critical processes.
Sales of $1.2 billion in nVent Electric’s latest release grew 53% YoY, setting a new company record. The company also reported record orders and an all-time high backlog, underpinned by the favorable demand environment it’s currently in.
Momentum within data center solutions led it to increase its full-year sales and EPS guidance. The stock sports the highly coveted Zacks Rank #1 (Strong Buy), with its current and next year EPS outlook remaining highly bullish.
Iron Mountain Raises Guidance
Iron Mountain builds and operates high-security, high-power facilities where they lease space, cooling, and massive electrical capacity to major corporations that need a physical home for their AI servers and data hardware.
The company reported record results across several key performance metrics in its latest release, with record sales of $1.9 billion growing 22% YoY thanks to strong performance across its growth businesses of data center, asset lifecycle management (ALM), and digital.
Iron Mountain is also off to a strong start to the year in data center leasing, leasing 32 megawatts through April. Given the outsized growth and favorable trends of growing data center capacity coming online, the company raised its full-year guidance, adding to the positivity.
Like those above, the EPS outlook for its current and next fiscal years remains nicely bullish, helping support its share momentum.
Bottom Line
All three companies above – Iron Mountain, Cisco and nVent Electric – posted rock-solid quarterly results this cycle, delivering record sales and seeing strong momentum thanks to data center trends stemming from the AI buildout.
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Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
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Zacks Investment Ideas feature highlights: Iron Mountain, Cisco and nVent Electric

The 2026 Q1 earnings season is nearing its end for S&P 500 members, with just a small portion yet to report their results. It’s been another period of momentum and strength, with both earnings and revenue growth remaining rock-solid across the board.
So far, several companies have posted notably strong results, including Iron Mountain IRM, Cisco CSCO, and nVent Electric NVT, which each set quarterly sales records and are enjoying momentum thanks to the AI buildout.
Cisco Sees Record Demand
With an industry-leading networking portfolio, AI-native security solutions, and operating systems, Cisco is well-positioned to provide the critical infrastructure for the AI era.
Sales of $15.8 billion reflected a record for the company, also exceeding the high end of its prior guidance. The company noted broad-based, record-high demand for its technology, with overall product orders growing by a sizable 35% YoY. Importantly, data center switching orders grew 40% from the year-ago period, underpinning its important role amid the buildout.
Favorable EPS revisions for its current and next fiscal year have helped land it into a Zacks Rank #2 (Buy), with shares also soaring throughout 2026.
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nVent Electric Soars
nVent Electric designs, manufactures, markets, installs, and services high-performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings, and critical processes.
Sales of $1.2 billion in nVent Electric’s latest release grew 53% YoY, setting a new company record. The company also reported record orders and an all-time high backlog, underpinned by the favorable demand environment it’s currently in.
Momentum within data center solutions led it to increase its full-year sales and EPS guidance. The stock sports the highly coveted Zacks Rank #1 (Strong Buy), with its current and next year EPS outlook remaining highly bullish.
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Iron Mountain Raises Guidance
Iron Mountain builds and operates high-security, high-power facilities where they lease space, cooling, and massive electrical capacity to major corporations that need a physical home for their AI servers and data hardware.
The company reported record results across several key performance metrics in its latest release, with record sales of $1.9 billion growing 22% YoY thanks to strong performance across its growth businesses of data center, asset lifecycle management (ALM), and digital.
Iron Mountain is also off to a strong start to the year in data center leasing, leasing 32 megawatts through April. Given the outsized growth and favorable trends of growing data center capacity coming online, the company raised its full-year guidance, adding to the positivity.
Like those above, the EPS outlook for its current and next fiscal years remains nicely bullish, helping support its share momentum.
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Bottom Line
All three companies above – Iron Mountain IRM, Cisco CSCO, and nVent Electric NVT – posted rock-solid quarterly results this cycle, delivering record sales and seeing strong momentum thanks to data center trends stemming from the AI buildout.
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Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report
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