IRM · Earnings call · 2026Q2T · Full report
Operating Cash Flow Trends
IRON MOUNTAIN INC · 2026-08-05 · Importance 69 · Surprise 64 · In source text
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.
Key facts
- IRON MOUNTAIN INC stated the conclusion of Matterhorn restructuring in 2025 reduced a $100 million cash outflow in first half 2026 to $0 (impact reference: $100 million in first half 2025, 0 this year).
- IRON MOUNTAIN INC year-to-date operating cash flow: $888 million, up $315 million from last year; free cash flow improved $441 million in first half of 2026 versus first half of 2025.
- IRON MOUNTAIN INC AFFO in Q2 2026: $433 million, up $63 million or 17% year-on-year; AFFO per share $1.44, up 16% and $0.04 ahead of their prior projection.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | realized | +3.1% | IRON MOUNTAIN INC AFFO in Q2 2026: $433 million, up $63 million or 17% year-on-year; AFFO per share $1.44, up 16% and $0.04 ahead of their… |
| cash | positive | realized | +2.0% | IRON MOUNTAIN INC year-to-date operating cash flow: $888 million, up $315 million from last year; free cash flow improved $441 million in… |
| cash | positive | realized | +1.4% | IRON MOUNTAIN INC year-to-date operating cash flow: $888 million, up $315 million from last year; free cash flow improved $441 million in… |
| cash | positive | realized | +0.5% | IRON MOUNTAIN INC stated the conclusion of Matterhorn restructuring in 2025 reduced a $100 million cash outflow in first half 2026 to $0… |