IRM · Full Picture

IRON MOUNTAIN INC — the full picture

Earnings window · 2026-07-15 to 2026-08-09 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Capital Expenditure Program · Capital expenditurePriority 83
    -8.5% cash; 2 sources (press_release, sec_filing); 2 forward row(s); structured_verified
    Excluding capital expenditures associated with potential future acquisitions, expected total capital expenditures for year ending December 31, 2026: approximately $2,200.0 million; of which growth investment approx $2,050.0 million and recurring approx $150.0 million.
  2. Operating Margin Drivers · Operating income & profitabilityPriority 81
    +23.0% operating_income (realized); 3 sources (news, press_release, sec_filing); structured_verified
    Q2 2026 Net Income: $106.1 million, compared with a Net Loss of $(43.3) million in Q2 2025
  3. Revenue Performance and Mix · Revenue growth & mixPriority 81
    +90.3% revenue (realized); 3 sources (news, press_release, sec_filing); structured_verified
    Total revenues for the six months ended June 30, 2026: $3,965,211 thousand, up $660,734 thousand or 20.0% vs prior year.
  4. Operating Expense Trends · Operating expenses (SG&A)Priority 77
    -27.5% operating_income (realized); 2 sources (press_release, sec_filing); structured_verified
    Product cost of sales and other for the six months ended June 30, 2026: $449,839 thousand, up $221,138 thousand or 96.7% vs prior year driven by ALM product sales increases.
  5. Guidance and Outlook · Guidance & outlookPriority 76
    3 sources (news, press_release, sec_filing); 2 forward row(s); quote_verified
    Iron Mountain increased full year 2026 total revenue guidance to $7,940 - $8,010 million, approximately +16% at midpoint
  6. Liquidity and Debt Position · Debt, leverage & refinancingPriority 67
    -6.8% liability (realized); structured_verified
    Completed private offering on June 26, 2026 of 6.25% Notes due 2035 with aggregate principal amount $1,500,000 thousand; interest payable January 15 and July 15; par call date July 15, 2029; issued at par with net proceeds approx $1,481.8 million; $1,500.0 million outstanding as of June 30, 2026.
  7. Market Demand Trends · Demand, orders & backlogPriority 64
    3 sources (news, press_release, sec_filing); quote_verified
    Growth businesses of data center, digital, and asset lifecycle management collectively grew more than 50% year over year in Q2 2026
  8. Dividends · Buybacks & dividendsPriority 63
    -2.4% cash (realized); 3 sources (news, press_release, sec_filing); 1 forward row(s); structured_verified
    On August 5, 2026 Iron Mountain's Board declared a quarterly cash dividend of $0.864 per share for Q3 2026
  9. FX / Currency Impact · Currency / FXPriority 56
    1 forward row(s); quote_verified
    We have designated these cross-currency swap agreements as hedges of net investments in our Euro and Canadian dollar denominated subsidiaries and they require an exchange of the notional amounts at maturity.
  10. Datacenter Capacity Expansion · Capacity & footprint expansionPriority 55
    2 sources (press_release, sec_filing); 1 forward row(s); quote_verified
    Data center leasing year-to-date through July 2026: 110 megawatts leased, including 13 megawatts in Q2 2026 and 75 megawatts in July
  11. Liquidity and Debt Position · Liquidity & cash positionPriority 48
    quote_verified
    Total assets as of 6/30/2026: $21,955,442 thousand ($21,955.442 million)
  12. Interest Rate and Refinancing Exposure · Interest ratesPriority 47
    -2.3% net_income (realized); quote_verified
    As of June 30, 2026 we have approximately $1,032.0 million in notional value outstanding on our interest rate swap agreements and as of December 31, 2025 we had $1,349.0 million.

Threads by pillar

Revenue & Demand Priority 88 · 4 threads

Costs & Margins Priority 89 · 5 threads

Capital & Balance Sheet Priority 92 · 5 threads

Strategy & Portfolio Priority 62 · 2 threads

Guidance & Outlook Priority 76 · 1 thread

Macro & Market Conditions Priority 63 · 2 threads

Expected impact by metric

metricforward netforward grossrealized
cash-8.5%+8.5%+1.0%
assets+8.5%+8.5%—
operating_income——-4.5%
net_income——+4.1%
revenue——+90.3%
liability——-8.8%