Iron Mountain's Q2 2026 Earnings: What to Expect

Portsmouth, New Hampshire-based Iron Mountain Incorporated (IRM) provides records management, data management solutions, and information destruction services. Valued at $36.8 billion by market cap, the company serves banking, energy, entertainment, health care, insurance, law firm, life science, retail, and pharmaceutical industries. The global leader in information management services is expected to announce its fiscal second-quarter earnings for 2026 before the market opens on Wednesday, Aug. 5.

Ahead of the event, analysts expect IRM to report an FFO of $1.28 per share on a diluted basis, up 166.7% from $0.48 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s FFO estimates in its last four quarterly reports. 

For the full year, analysts expect IRM to report FFO of $5.40 per share, up 154.7% from $2.12 per share in fiscal 2025. Its FFO is expected to rise 10.6% year over year to $5.97 per share in fiscal 2027.

IRM stock has outperformed the S&P 500 Index’s ($SPX) 20.3% gains over the past 52 weeks, with shares up 23.8% during this period. Similarly, it outperformed the State Street Real Estate Select Sector SPDR ETF’s (XLRE) 8.9% gains over the same time frame.

On Apr. 30, IRM shares closed up more than 10% after reporting its Q1 results. Its revenue stood at $1.9 billion, up 21.5% year over year. The company’s AFFO per share increased 22.2% year over year to $1.43.

Analysts’ consensus opinion on IRM stock is bullish, with a “Strong Buy” rating overall. Out of 12 analysts covering the stock, nine advise a “Strong Buy” rating, one suggests a “Moderate Buy,” one gives a “Hold,” and one recommends a “Strong Sell.” IRM’s average analyst price target is $133.25, indicating a potential upside of 9.5% from the current levels.