Iron Mountain (NYSE:IRM) Updates Q2 2026 Earnings Guidance

Key Points

• Updated guidance: Iron Mountain set Q2 2026 guidance at $1.40 EPS and $2.0B revenue (both above consensus) and raised FY2026 to $5.79–$5.86 EPS and $7.8–$7.9B revenue
• Quarterly beat and market reaction: The company reported quarterly EPS of $1.43 versus a $0.52 consensus, and the stronger results and guidance helped lift the stock (~7.6% intraday move noted).
• Investor caution signals: Despite the beat, Iron Mountain posted a low net margin (2.1%) and a negative ROE (~‑99.6%), while insiders have sold sizable stakes (451,648 shares over three months), which may raise corporate governance or profitability concerns for some investors.

Iron Mountain (NYSE:IRM - Get Free Report) updated its second quarter 2026 earnings guidance on Thursday. The company provided earnings per share guidance of 1.400-1.400 for the period, compared to the consensus earnings per share estimate of 1.320. The company issued revenue guidance of $2.0 billion-$2.0 billion, compared to the consensus revenue estimate of $1.9 billion. Iron Mountain also updated its FY 2026 guidance to 5.790-5.860 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IRM. Barclays raised their price target on Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Wells Fargo & Company lifted their target price on Iron Mountain from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Zacks Research downgraded Iron Mountain from a "hold" rating to a "strong sell" rating in a research report on Monday, April 13th. Loop Capital set a $130.00 target price on Iron Mountain in a research report on Wednesday, March 4th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a research report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Iron Mountain has an average rating of "Moderate Buy" and a consensus target price of $124.60.

Iron Mountain Trading Up 7.6%

NYSE:IRM opened at $123.27 on Thursday. Iron Mountain has a twelve month low of $77.77 and a twelve month high of $123.00. The company has a market cap of $36.67 billion, a price-to-earnings ratio of 255.80 and a beta of 1.13. The stock has a fifty day simple moving average of $108.38 and a 200-day simple moving average of $98.06.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, April 30th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.91. Iron Mountain had a negative return on equity of 99.59% and a net margin of 2.10%.During the same quarter in the prior year, the business earned $1.17 earnings per share. The business's quarterly revenue was up 21.5% compared to the same quarter last year. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. As a group, equities research analysts predict that Iron Mountain will post 5.26 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Monday, March 16th were issued a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, March 16th. Iron Mountain's payout ratio is presently 718.75%.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 59,725 shares of Iron Mountain stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $104.62, for a total value of $6,248,429.50. Following the completion of the sale, the executive vice president directly owned 16,054 shares in the company, valued at $1,679,569.48. The trade was a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 38,474 shares of Iron Mountain stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total value of $3,951,664.54. Following the completion of the sale, the chief executive officer owned 38,474 shares of the company's stock, valued at $3,951,664.54. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 451,648 shares of company stock valued at $48,297,449. Insiders own 1.70% of the company's stock.

More Iron Mountain News

Here are the key news stories impacting Iron Mountain this week:

• Positive Sentiment: Iron Mountain raised its full-year 2026 guidance, with EPS now guided to $5.79–$5.86 (well above consensus of $5.26) and revenue guided to $7.8B–$7.9B (above consensus). Management cited booming demand for data center capacity to support AI workloads as the driver. Iron Mountain raises annual forecast on AI-fueled data center boom
• Positive Sentiment: IRM updated Q2 2026 guidance: EPS of $1.40 (vs. consensus ~$1.32) and revenue ~ $2.0B (vs. consensus ~$1.9B), signaling near-term strength in data center and services revenue. (Company guidance release)
• Positive Sentiment: Q1 results beat: Iron Mountain reported EPS of $0.60 vs. analysts’ $0.52 estimate, topping consensus and reinforcing the upbeat guidance. Iron Mountain Reports First Quarter 2026 Results
• Neutral Sentiment: Pre-earnings previews and Wall Street metric analysis (Zacks/Yahoo) provided context on key operating metrics investors were watching going into Q1; these pieces explain where upside came from but do not add new company guidance. Wall Street's Insights Into Key Metrics Ahead of Iron Mountain (IRM) Q1 Earnings
• Negative Sentiment: Despite the beat and raised guidance, the company reported a low net margin (2.1%) and a negative return on equity (~-99.6%) for the quarter, items some investors may view as structural profitability or accounting concerns to monitor. (Company earnings release/summary) Press Release

Institutional Trading of Iron Mountain

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Iron Mountain by 1.9% in the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider's stock valued at $1,759,494,000 after acquiring an additional 322,144 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Iron Mountain by 18.1% in the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider's stock valued at $516,481,000 after acquiring an additional 776,933 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Iron Mountain by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,429,359 shares of the financial services provider's stock valued at $367,418,000 after acquiring an additional 81,320 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Iron Mountain by 3.0% in the fourth quarter. Northern Trust Corp now owns 4,152,569 shares of the financial services provider's stock valued at $344,456,000 after acquiring an additional 121,003 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Iron Mountain by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,880,275 shares of the financial services provider's stock worth $321,869,000 after purchasing an additional 206,030 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers' digital transformation.

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