Iron Mountain Inc. (IRM)
NYSE:IRM
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.53Last Year’s EPS
0.48Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated broad, above-expectation operational and financial outperformance across revenue, adjusted EBITDA, AFFO and cash flow, driven by strong demand in data center, ALM, digital solutions and records services. Management raised full-year guidance and highlighted strategic wins (FedRAMP, government contracts, large cross-sells) and stronger balance sheet metrics. Risks noted include FX sensitivity, memory-price and project timing volatility in ALM, and the lumpy nature of hyperscaler-driven data center leasing and pass-through cost effects on margins.Company Guidance
Strong Top-Line Performance
Total revenue of $1.94 billion, up $344 million year-over-year (+22% reported, +19% constant currency, +17% organic). First quarter organic growth of 17% — the highest rate in more than 25 years.
Record Profitability and Cash Flow
Adjusted EBITDA of $708 million, up $128 million year-over-year (+22%) with a margin of 36.6% (+20 bps). AFFO of $426 million, up $78 million (+22%); AFFO per share $1.43, up 22% and $0.04 ahead of prior projection. Operating cash flow of $339 million, up $141 million — best Q1 operating cash flow in company history.
Raised Full-Year Financial Guidance
Full-year revenue guidance raised to $7.825B–$7.925B (midpoint +14% y/y). Adjusted EBITDA guidance raised to $2.925B–$2.965B (midpoint +14% y/y). AFFO guidance raised to $1.735B–$1.755B ($5.79–$5.86 per share, midpoint +13% y/y).
Data-Related Growth Engines Outperforming
Combined data businesses (data, data center, ALM and digital) grew more than 50% in the quarter and now exceed 30% of total revenue. Digital solutions achieved record Q1 revenue, growing >20% year-over-year.
Data Center Momentum
Global Data Center revenue $255 million, up $82 million year-over-year (+47%). Signed 22 MW of new leases in Q1, commenced 24 MW, and leased ~32 MW year-to-date (22 MW in Q1 + 10 MW in April). Increased future development capacity in Northern Virginia by 20% to 195 MW.
Asset Lifecycle Management (ALM) Surge
ALM revenue $232 million, up $111 million year-over-year (+92% reported; +77% organic). Management increased full-year ALM revenue outlook to $950 million (+$100 million vs prior guidance), with $40 million upside realized in Q1 and $60 million expected through the rest of the year.
Records Management and Services Strength
Total storage revenue $1.1 billion, up $146 million (+15%). Total service revenue $841 million, up $197 million (+31%). Global RIM revenue a quarterly record at $1.4 billion, up $148 million (+12% reported; +8% organic).
Key Commercial Wins and Certifications
Multiple strategic wins: major government digitization contracts (including Dept. of Treasury/IRS ramping: $9M recognized in Q1; expecting $45M in 2026 and >$100M annually in 2027+), FedRAMP High authorization for InSight, Google Partner of the Year recognition (media & entertainment), and several large cross-sell deals across ALM, records and data center (e.g., 16 MW Miami lease, 10 MW Amsterdam lease).
Capital Allocation and Balance Sheet
Invested $492 million growth CapEx and $35 million recurring CapEx in Q1; full-year CapEx planned to be slightly down from last year. Net lease adjusted leverage improved to 4.8x — best level since pre-2014 REIT conversion. Board declared quarterly dividend of $0.864; trailing-4-quarter payout ratio ~61% (in line with target).
IRM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
IRM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $114.52 | $125.99 | +10.02% |
Feb 12, 2026 | $99.41 | $105.14 | +5.77% |
Nov 05, 2025 | $101.42 | $98.62 | -2.76% |
Aug 06, 2025 | $93.03 | $87.67 | -5.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Iron Mountain Inc. (IRM) report earnings?
Iron Mountain Inc. (IRM) is schdueled to report earning on Jul 30, 2026, Before Open (Confirmed).
What is Iron Mountain Inc. (IRM) earnings time?
Iron Mountain Inc. (IRM) earnings time is at Jul 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IRM EPS forecast?
IRM EPS forecast for the fiscal quarter 2026 (Q2) is 0.53.
