Equity Profile

IRM

Iron Mountain Incorporated

Real EstateOther Specialized REITs$37.8B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Iron Mountain Incorporated (IRM) is a real estate investment trust (REIT) that specializes in storage and information management services. With a market cap of $38 billion, the company plays a crucial role in the growing demand for secure data storage and management solutions, especially as businesses increasingly rely on digital information.

Key Metrics to Watch

Revenue Growth

Revenue growth is critical this quarter as it reflects demand for Iron Mountain's services amid a competitive landscape.

N/A

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will be closely watched given the company's recent performance.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

IRM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

-56.10%

Avg Stock Reaction

+0.03%

Last Quarter Recap

In Q1 2026, Iron Mountain reported an EPS of $0.60, significantly missing expectations of $1.27, leading to a 10.02% stock increase the following day. The company has struggled with consistent earnings, which raises concerns for the upcoming report.

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to expanding digital services.
Plans to enhance customer engagement strategies.

Expectations

Wall Street Expectations

Analysts are uncertain about Iron Mountain's performance this quarter, especially after a series of earnings misses. Investors are looking for signs of recovery and growth in revenue and profitability.

Bull Case

If Iron Mountain can show strong revenue growth and improved EPS, it may signal a turnaround in its business model, attracting more investor interest.

Bear Case

Continued earnings misses could lead to further declines in investor confidence, especially if the company fails to provide a clear path to recovery.

Expectations

Two Questions That Matter

The print will turn on these two things.

What specific revenue growth rate can Iron Mountain achieve this quarter?

Revenue growth is essential for restoring investor confidence, especially after recent earnings misses.

How is the customer retention rate trending?

A stable or improving retention rate is crucial for future revenue and indicates the company's ability to maintain its client base.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Iron Mountain's potential for recovery, as recent investments in digital services could lead to unexpected revenue growth.

Supporting Evidence

The options market is pricing a 6.9% move, indicating expectations for volatility that may not align with the company's actual performance.

Historical data shows that despite misses, the stock has often rebounded, suggesting resilience.

Management's focus on customer engagement could yield better-than-expected retention rates.

Key Risk

If revenue growth exceeds 10%, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Iron Mountain can stabilize its earnings and show growth after a series of disappointing results.

Bull Confirmed If

Demonstrating revenue growth of at least 10% year-over-year would confirm the bull case.

Bear Confirmed If

If EPS falls below $0.50, it would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±6.9%

Historical Avg

±6.2%

In line with history

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±6.9% while IRM has averaged ±6.2% over the last 8 prints — setup is roughly in line with history.

Detail

ATM IV

0.4%

30d HV

37.8%

Calls (171K)P/C Ratio: 0.50Puts (39K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing in-line setup in Real Estate

n=30

Fade rate: 17 of 30 (57%)

This setup has occurred 30 times across Real Estate in the last 2 years. 17 of 30 faded and 13 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 1.5%, with a raw directional average of +0.7% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Iron Mountain beats expectations, history suggests a potential average one-day move of +6.23%, confirming a positive outlook.

In-Line / Cautious

A cautious in-line report may lead to muted reactions, as investors await clearer guidance on future performance.

Miss

If the company misses again, history suggests a modest decline, with an average one-day move of +0.03% following misses.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on revenue growth and specific figures compared to last quarter.
2Details on customer retention rates and any changes in strategy.
3Insights into operational efficiency improvements and their impact on margins.
4Any commentary on the expansion of digital services and expected contributions to revenue.
5Management's outlook on market conditions and competitive positioning.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Aug3

ONBMO

ON Semiconductor Corporation

PreviewView

Aug3

LBMO

Company Snapshot

Key Metrics to Watch

Revenue Growth

Revenue growth is critical this quarter as it reflects demand for Iron Mountain's services amid a competitive landscape.

N/A

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will be closely watched given the company's recent performance.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

IRM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

-56.10%

Avg Stock Reaction

+0.03%

Last Quarter Recap

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to expanding digital services.
Plans to enhance customer engagement strategies.

Expectations

Wall Street Expectations

Bull Case

If Iron Mountain can show strong revenue growth and improved EPS, it may signal a turnaround in its business model, attracting more investor interest.

Bear Case

Continued earnings misses could lead to further declines in investor confidence, especially if the company fails to provide a clear path to recovery.

Expectations

Two Questions That Matter

The print will turn on these two things.

What specific revenue growth rate can Iron Mountain achieve this quarter?

Revenue growth is essential for restoring investor confidence, especially after recent earnings misses.

How is the customer retention rate trending?

A stable or improving retention rate is crucial for future revenue and indicates the company's ability to maintain its client base.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Iron Mountain's potential for recovery, as recent investments in digital services could lead to unexpected revenue growth.

Supporting Evidence

The options market is pricing a 6.9% move, indicating expectations for volatility that may not align with the company's actual performance.

Historical data shows that despite misses, the stock has often rebounded, suggesting resilience.

Management's focus on customer engagement could yield better-than-expected retention rates.

Key Risk

If revenue growth exceeds 10%, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Iron Mountain can stabilize its earnings and show growth after a series of disappointing results.

Bull Confirmed If

Demonstrating revenue growth of at least 10% year-over-year would confirm the bull case.

Bear Confirmed If

If EPS falls below $0.50, it would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±6.9%

Historical Avg

±6.2%

In line with history

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±6.9% while IRM has averaged ±6.2% over the last 8 prints — setup is roughly in line with history.

Detail

ATM IV

0.4%

30d HV

37.8%

Calls (171K)P/C Ratio: 0.50Puts (39K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing in-line setup in Real Estate

n=30

Fade rate: 17 of 30 (57%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Iron Mountain beats expectations, history suggests a potential average one-day move of +6.23%, confirming a positive outlook.

In-Line / Cautious

A cautious in-line report may lead to muted reactions, as investors await clearer guidance on future performance.

Miss

If the company misses again, history suggests a modest decline, with an average one-day move of +0.03% following misses.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on revenue growth and specific figures compared to last quarter.
2Details on customer retention rates and any changes in strategy.
3Insights into operational efficiency improvements and their impact on margins.
4Any commentary on the expansion of digital services and expected contributions to revenue.
5Management's outlook on market conditions and competitive positioning.