IRM · Real Estate

IRON MOUNTAIN INC

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: what to focus on this earnings window

News · 2026-08-08

• Revenue Performance and MixImportance 54 · Surprise 40
  Iron Mountain reported second-quarter 2026 revenue of $2.03 billion, up 18.5% year over year and above estimates by 3.2%. Growth reflected increases in storage rental and service revenue. Global Digital Solutions,…
• Operating Income and MarginsImportance 48 · Surprise 40
  Second-quarter adjusted EBITDA increased 16% year over year to $727 million. Adjusted EBITDA exceeded market expectations alongside revenue and AFFO. The improvement was supported by growth in data centers, Asset…
• Quarterly Dividend DeclarationImportance 13 · Surprise 6
  Iron Mountain declared a quarterly cash dividend of $0.864 per share following its second-quarter 2026 results. The dividend was cited as a current shareholder distribution alongside the company’s raised full-year…

News · 2026-08-06

• Net Income and ProfitabilityImportance 64 · Surprise 82
  Iron Mountain reported second-quarter net income of $101.43 million, compared with a loss in the prior-year quarter. A separate earnings report cited net income of $106.1 million, indicating a difference among…
• Datacenter Demand TrendsImportance 23 · Surprise 24
  Iron Mountain’s Global Data Center business was identified as a key driver of stronger second-quarter performance. Third-party reporting described accelerated data-center growth alongside expansion in Asset Lifecycle…

10-Q · 2026-08-05

• Operating Margin DriversImportance 64 · Surprise 56
  Six-month 2026 operating income increased 49.5% year over year to $768.8 million, while operating expenses increased 14.6% to $3,196.5 million against 20.0% revenue growth. Adjusted EBITDA increased 18.8% to $1,435.0…
• Capital Expenditure ProgramImportance 64 · Surprise 42
  Iron Mountain spent $1,106.2 million in cash capital expenditures during the six months ended June 30, 2026, including $880.1 million for data-center growth investment. Total capital spend on an accrual basis was…
• DividendsImportance 64 · Surprise 42
  Iron Mountain paid $532.7 million of common-stock dividends during the six months ended June 30, 2026. On August 5, 2026, the company declared a $0.864-per-share dividend for stockholders of record on September 15,…
• Liquidity and Debt PositionImportance 64 · Surprise 42
  Cash from operating activities increased $315.4 million year over year to $887.8 million, while cash and cash equivalents ended the period at $204.8 million. Total long-term debt was $17,482.1 million gross and…
• FX / Currency ImpactImportance 63 · Surprise 64
  Foreign-currency transaction gains were $38.4 million for the six months ended June 30, 2026, compared with $116.8 million of losses in the prior-year period, producing a $155.2 million year-over-year improvement. The…
• Revenue Performance and MixImportance 59 · Surprise 48
  Six-month 2026 revenue increased 20.0% year over year to $3,965.2 million, including 13.8% growth in storage rental revenue to $2,229.4 million and 29.0% growth in service revenue to $1,735.8 million. Organic revenue…
• Operating Expense TrendsImportance 59 · Surprise 48
  Six-month cost of sales increased $383.4 million, or 26.2%, to $1,848.4 million, raising its revenue ratio from 44.3% to 46.6%. Product cost of sales and other expense increased $221.1 million, or 96.7%, primarily in…
• Datacenter Capacity ExpansionImportance 58 · Surprise 56
  The Global Data Center Business expanded rapidly, with organic segment revenue growth of 41.4% for the six months ended June 30, 2026, primarily from leases commencing during 2026 and prior periods. Growth investment…
• Interest Rate and Refinancing ExposureImportance 56 · Surprise 24
  Iron Mountain’s Credit Agreement and bond indentures impose leverage and fixed-charge coverage covenants that constrain acquisitions, dividends, additional debt, investments and asset sales. As of June 30, 2026, the…
• Guidance / OutlookImportance 52 · Surprise 42
  Iron Mountain expects continued total revenue and Adjusted EBITDA growth during 2026, supported by new product and service offerings, cross-selling, innovation, customer solutions and market expansion. Organic storage…
• Income Tax Rate ChangesImportance 51 · Surprise 64
  The six-month 2026 effective tax rate was 14.1%, compared with 773.6% in the prior-year period, when the rate was distorted by a net loss position. Six-month 2026 income-tax provision was $41.9 million on net income of…
• End-Market Demand TrendsImportance 47 · Surprise 48
  Iron Mountain’s organic storage rental revenue grew 11.8% for the six months ended June 30, 2026, driven by revenue management in the Global RIM Business and lease commencements and improved pricing in the Global Data…
• Manufacturing and CapacityImportance 41 · Surprise 48
  Iron Mountain’s ALM business experienced higher product cost of sales in line with increased product sales from new and existing customers, indicating expanded activity in its product-related operations. The company…
• Data Center Joint VentureImportance 40 · Surprise 42
  During the quarter ended June 30, 2026, Iron Mountain entered into an agreement with a partner to form Iron Mountain Data Centers Virginia 9 JV, LP. The transaction produced approximately $49.9 million of…
• Customer DynamicsImportance 31 · Surprise 32
  Iron Mountain reported service growth from both new and existing customers in its ALM business during the six months ended June 30, 2026. ALM product sales increased in line with demand from those customer groups,…
• Products and TechnologyImportance 26 · Surprise 24
  Global Digital Solutions and traditional records-management services were important drivers of organic service growth in the Global RIM Business during the first six months of 2026. Iron Mountain also highlighted new…

Earnings call · 2026-08-05

• Guidance and OutlookImportance 85 · Surprise 76
  Management raised full-year 2026 guidance to revenue of $7.94 billion-$8.01 billion, adjusted EBITDA of $2.945 billion-$2.975 billion, and AFFO of $1.76 billion-$1.78 billion, reflecting 16%, 15%, and 15% midpoint…
• Asset Lifecycle Management GrowthImportance 75 · Surprise 64
  Asset Lifecycle Management revenue grew 88% year over year, with organic growth of 82%, driven by both enterprise and hyperscale decommissioning. Enterprise ALM grew more than 60% organically through greater…
• Datacenter Demand TrendsImportance 70 · Surprise 56
  Iron Mountain’s Data Center business grew 39% year over year, supported by strong industry demand, lease commencements and positive pricing. The company leased 13 megawatts in the second quarter and an additional 75…
• Segment Revenue PerformanceImportance 69 · Surprise 64
  Global RIM generated record quarterly revenue of $1.4 billion, up $110 million or 8% reported and 7% organically year-over-year.,Global RIM storage revenue increased 7% reported and 5% organically, while service revenue rose 11% reported and 9% organically.,Global Data Center revenue reached $263 million, up $73 million or 39% year-over-year, driven by lease commencements and positive pricing.,ALM revenue was $288 million, up $135 million or 88% year-over-year and 82% organically, with enterprise revenue growing more than 60% organically and data-center decommissioning revenue increasing more than 100%.
• Operating Cash Flow TrendsImportance 69 · Surprise 64
  Year-to-date operating cash flow was $888 million, up $315 million from the prior-year period.,First-half free cash flow improved by $441 million year-over-year, reflecting business growth and an improved cash cycle.,The completion of the Matterhorn restructuring reduced first-half 2026 restructuring cash costs to zero versus $100 million in the first half of 2025.,Management characterized the first-half operating cash flow as the strongest first-half result in company history.
• Capital Expenditure ProgramImportance 64 · Surprise 42
  Iron Mountain invested $553 million of growth capital expenditures and $38 million of recurring capital expenditures in the second quarter of 2026. Management framed capital allocation around investing in high-return…
• Revenue Performance and MixImportance 58 · Surprise 40
  Second-quarter revenue was $2.03 billion, up $317 million or 19% year-over-year on a reported basis, 18% in constant currency and 17% organically.,Data Center, Asset Lifecycle Management and Digital businesses collectively grew more than 50% and represented 35% of revenue, up 750 basis points from the prior year.,Recurring revenue exceeded 45% of the Digital business, while the three growth businesses accounted for more than 30% of consolidated revenue.,Foreign exchange contributed approximately $14 million of year-over-year revenue, although the benefit was below the amount assumed in the prior outlook.
• Liquidity and Debt PositionImportance 58 · Surprise 42
  Net lease-adjusted leverage ended the quarter at 4.8x, the company's lowest level on this metric since before its 2014 REIT conversion.,Iron Mountain issued $1.5 billion of bonds during the quarter with a 6.25% fixed coupon and a 2035 maturity.,The new bonds included Iron Mountain's first investment-grade covenant package, reflecting continued support from debt investors for the company's credit profile.,Management linked the improved leverage position to strong EBITDA performance while continuing to fund growth initiatives.
• Interest Rate and Refinancing ExposureImportance 58 · Surprise 42
  During the second quarter, Iron Mountain issued $1.5 billion of new bonds with a 6.25% fixed coupon maturing in 2035. Management said the issuance included the company’s first investment-grade covenant package and…
• Capital ExpendituresImportance 56 · Surprise 24
  Iron Mountain invested $553 million of growth capital expenditures and $38 million of recurring capital expenditures in the second quarter.,Second-quarter total capital investment therefore reached $591 million, with growth spending substantially exceeding recurring spending.,Growth capital is being directed toward high-return opportunities supporting Data Center capacity, ALM expansion and double-digit revenue growth.,Management said capital allocation remains focused on investing in high-return opportunities while growing the dividend and maintaining the balance sheet.
• Operating Income and MarginsImportance 54 · Surprise 40
  Adjusted EBITDA was a record $727 million, increasing $99 million or 16% year-over-year and exceeding the prior projection of $715 million.,Global RIM adjusted EBITDA increased $34 million to $621 million, with a 43% adjusted EBITDA margin.,Global Data Center adjusted EBITDA rose $41 million to $137 million, producing a 52.2% margin that was 140 basis points higher year-over-year.,Data Center margin increased more than 100 basis points sequentially on a like-for-like power basis, while consolidated margin faced a mix headwind from strong services growth.
• Data Center Capacity ExpansionImportance 52 · Surprise 42
  Iron Mountain leased 13 megawatts in the second quarter and another 75 megawatts in July, bringing year-to-date leasing to 110 megawatts.,Approximately 325 megawatts of leasable capacity are expected to energize over the next 24 months, including capacity in Richmond, Europe, India and Northern Virginia.,A 25-megawatt London 3 lease and a 10-megawatt Amsterdam lease were signed in July, while a global hyperscaler leased 51 megawatts in Mumbai under a 10-year contract.,India has another 100 megawatts of future development capacity, and management expects 2026 leasing to meaningfully exceed the original 100-megawatt target.
• Products and TechnologyImportance 50 · Surprise 58
  Iron Mountain’s Digital Solutions business delivered record quarterly revenue and continued double-digit organic growth, with recurring digital revenue exceeding 45% of the business. The company highlighted DXP, its…
• Acquisition / Partnership / DivestitureImportance 47 · Surprise 60
  Iron Mountain acquired Groupe ATF, closing at the end of July or technically August 1, to expand its Asset Lifecycle Management capabilities in France and Belgium. Groupe ATF generates high-teens millions of dollars of…
• Geographic Market CommentaryImportance 46 · Surprise 42
  India was identified as a major growth opportunity across both physical records outsourcing and data centers, with strong storage-volume performance and a 51-megawatt Mumbai lease to a global hyperscaler under a…
• Regulatory RiskImportance 37 · Surprise 42
  Iron Mountain achieved portfolio-wide HITRUST r2 accreditation in June 2026, which management described as a leading data-security credential for heavily regulated industries. The company also highlighted its FedRAMP…
• FX / Currency ImpactImportance 36 · Surprise 24
  Management said foreign-exchange movements added approximately $14 million to year-over-year second-quarter revenue. The benefit was slightly below the amount assumed in the prior outlook because the U.S. dollar…
• Operating Expense TrendsImportance 31 · Surprise 42
  Management attributed the $727 million adjusted EBITDA result partly to continued cost discipline across the business.,Transformation initiatives are targeting revenue growth, operational excellence, modernization and AI-enabled productivity across finance, legal, HR, customer care and commercial operations.,Real-estate footprint improvements are expected to reduce transportation costs and improve warehouse efficiency in the physical services business.,Strategic procurement, customer-care productivity and AI-assisted responses to RFPs are identified as sources of future EBITDA improvement and reinvestment capacity.
• Customer DynamicsImportance 31 · Surprise 42
  Iron Mountain won a multiyear global ALM program with a long-standing business-services customer covering IT assets across North America, EMEA and APAC. In Australia, a government department selected the company to…
• Strategic InitiativesImportance 31 · Surprise 42
  Management is expanding Iron Mountain’s integrated platform across records management, Digital Solutions, data centers, and Asset Lifecycle Management. The company is using cloud marketplaces including Azure, Google…
• Distribution ChannelsImportance 23 · Surprise 24
  Iron Mountain is increasingly using indirect channels, particularly for Digital Solutions, by partnering with large systems integrators serving business-process outsourcing and business-process-management customers.…
• Quarterly Dividend DeclarationImportance 19 · Surprise 6
  The Board declared a quarterly dividend of $0.864 per share payable in early October.,The trailing four-quarter AFFO payout ratio reached 60% after the declaration.,Management's capital-allocation priorities include continued dividend growth alongside investment in high-return growth opportunities.,The dividend is being maintained within a capital-allocation framework that also targets a strong balance sheet.

8-K · 2026-08-05

• Guidance and OutlookImportance 80 · Surprise 68
  Iron Mountain increased its full-year 2026 revenue guidance to $7.940 billion-$8.010 billion, representing approximately 16% growth at the midpoint versus the prior $7.825 billion-$7.925 billion range. Full-year…
• Guidance / OutlookImportance 80 · Surprise 68
  Iron Mountain increased its full-year 2026 guidance following second-quarter outperformance. New total revenue guidance is $7,940–$8,010 million, approximately 16% growth at the midpoint, compared with prior guidance…
• Revenue Performance and MixImportance 64 · Surprise 48
  Second-quarter 2026 total revenue was $2.029 billion, up 18.5% year over year and 4.8% sequentially from $1.936 billion in Q1 2026. Storage rental revenue increased 12.3% year over year to $1.135 billion and 3.6%…
• Operating Income and MarginsImportance 64 · Surprise 56
  Second-quarter operating income increased 43.7% year over year to $373.5 million from $259.9 million, but declined 5.5% sequentially from $395.2 million. Adjusted EBITDA rose 15.7% year over year to $727.0 million and…
• Operating Expense TrendsImportance 64 · Surprise 48
  Second-quarter cost of sales increased 27.0% year over year to $958.6 million and 7.7% sequentially from $889.8 million, exceeding the 18.5% revenue growth rate. Selling, general and administrative expense rose 3.0%…
• Market Demand TrendsImportance 64 · Surprise 48
  Iron Mountain’s second-quarter storage rental revenue increased 12% year over year to $1.135 billion, while service revenue increased 27% to $894 million. The company said growth businesses comprising data center,…
• Headcount / RestructuringImportance 59 · Surprise 82
  Iron Mountain recorded no restructuring or other transformation expense in Q2 2026, compared with $50.3 million in Q2 2025. Year-to-date restructuring and transformation expense was also zero, compared with $105.1…
• Quarterly Dividend DeclarationImportance 49 · Surprise 6
  Iron Mountain’s board declared a third-quarter 2026 cash dividend of $0.864 per common share on August 5, 2026. The dividend is payable on October 2, 2026, to shareholders of record at the close of business on…
• Liquidity and Debt PositionImportance 42 · Surprise 14
  Cash and cash equivalents increased to $204.8 million at June 30, 2026, from $158.5 million at December 31, 2025. Total debt, including current and long-term portions, rose to approximately $17.350 billion from $16.432…
• Datacenter Capacity ExpansionImportance 31 · Surprise 42
  Iron Mountain is accelerating data center leasing as part of its growth strategy. The company reported 110 megawatts leased year to date through July 2026, including 13 megawatts in the second quarter and 75 megawatts…
• Capital ExpendituresImportance 29 · Surprise 22
  Recurring capital expenditures were $38.0 million in Q2 2026, up 9.2% from $34.8 million in Q2 2025 and 7.7% sequentially from $35.3 million in Q1 2026. Year-to-date recurring capital expenditures totaled $73.3…
• Datacenter Demand TrendsImportance 23 · Surprise 24
  Iron Mountain leased 110 megawatts of data center capacity year to date through July 2026. Leasing included 13 megawatts in the second quarter and an additional 75 megawatts in July, indicating accelerating customer…

News · 2026-08-05

• Net Income and ProfitabilityImportance 64 · Surprise 82
  Iron Mountain reported second-quarter net income of $101.43 million, compared with a loss in the prior-year quarter. A separate earnings report cited net income of $106.1 million, indicating a difference among…
• Revenue Performance and MixImportance 54 · Surprise 40
  Iron Mountain reported second-quarter 2026 revenue of $2.03 billion, up 18.5% year over year and above estimates by 3.2%. Growth reflected increases in storage rental and service revenue. Global Digital Solutions,…
• Guidance / OutlookImportance 51 · Surprise 60
  Iron Mountain raised its full-year 2026 outlook after second-quarter revenue, adjusted EBITDA and AFFO exceeded expectations. The revised outlook was attributed to stronger-than-expected execution and continued…
• Operating Income and MarginsImportance 48 · Surprise 40
  Second-quarter adjusted EBITDA increased 16% year over year to $727 million. Adjusted EBITDA exceeded market expectations alongside revenue and AFFO. The improvement was supported by growth in data centers, Asset…
• Quarterly Dividend DeclarationImportance 13 · Surprise 6
  Iron Mountain declared a quarterly cash dividend of $0.864 per share following its second-quarter 2026 results. The dividend was cited as a current shareholder distribution alongside the company’s raised full-year…