Equity Profile

IRM

IRON MTN INC NEW REIT

Real EstateOther Specialized REITs$37.1B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Iron Mountain Inc. (IRM) is a real estate investment trust (REIT) that specializes in storage and information management services....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will be closely watched after recent misses.

N/A

Revenue Growth

Investors will look for signs of revenue stability or growth, particularly after previous disappointing results.

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

Iron Mountain Inc. (IRM) is a real estate investment trust (REIT) that specializes in storage and information management services. With a market cap of $37 billion, it plays a crucial role in the growing demand for secure data storage and management solutions, especially as businesses increasingly rely on digital information.

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 below the expected $1.27, leading to a 10.02% stock increase the following day. The company has consistently missed earnings expectations in recent quarters, raising concerns among investors.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are cautious given the company's recent earnings history, with a focus on whether it can stabilize its performance. Investors are particularly interested in any signs of recovery in revenue and profitability.

Bull Case

If Iron Mountain can demonstrate improved revenue growth and better manage its costs, it could regain investor confidence and see a positive stock reaction.

Bear Case

Continued earnings misses or weak guidance could lead to further declines in stock price, as investors may lose faith in the company's ability to execute its business strategy.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current occupancy rate and how does it compare to previous quarters?

Occupancy rates are critical for understanding demand for Iron Mountain's services and will heavily influence investor sentiment.

Can management provide any guidance on revenue growth for the upcoming quarters?

Given the company's recent performance, any positive guidance could reassure investors and help stabilize the stock.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating Iron Mountain's potential for recovery, particularly if occupancy rates stabilize and revenue growth resumes.

Supporting Evidence

Despite recent misses, the stock has shown resilience with positive reactions following earnings.

Options pricing suggests a significant move, indicating that traders expect a potential turnaround.

Historical patterns show that similar setups have led to positive outcomes in over 40% of cases.

Key Risk

If occupancy rates improve significantly, it could shift the narrative around Iron Mountain's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Iron Mountain can recover from its recent earnings misses and show signs of operational improvement.

Bull Confirmed If

A revenue growth rate of at least 5% year-over-year would confirm a bullish outlook.

Bear Confirmed If

If revenue declines further or occupancy rates drop below 80%, it would confirm a bearish outlook.

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, indicating that traders expect volatility around the earnings announcement.

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: 16 of 30 (53%)

This setup has occurred 30 times across Real Estate in the last 2 years. 16 of 30 faded and 14 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 the stock could rise significantly, confirming a turnaround in performance.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may see muted movement as investors weigh future prospects.

Miss

A miss could lead to a decline in stock price, with history suggesting an average move of around 0.03% on misses.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·3 sells

Members

Senate only

Est. Notional

$17,003.00–$80,000.00

disclosed dollar ranges

Most Active Members

R-OKMarkwayne MullinSen.
3

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on occupancy rates and how they compare to industry benchmarks.
2Any commentary on cost management strategies and their impact on margins.
3Insights into demand trends for storage and information management services.
4Management's outlook on revenue growth for the next quarter.
5Responses to analyst questions regarding recent earnings misses and future expectations.

See the full picture

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

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Company Snapshot

Iron Mountain Inc. (IRM) is a real estate investment trust (REIT) that specializes in storage and information management services....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will be closely watched after recent misses.

N/A

Revenue Growth

Investors will look for signs of revenue stability or growth, particularly after previous disappointing results.

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

Expectations

Wall Street Expectations

Bull Case

If Iron Mountain can demonstrate improved revenue growth and better manage its costs, it could regain investor confidence and see a positive stock reaction.

Bear Case

Continued earnings misses or weak guidance could lead to further declines in stock price, as investors may lose faith in the company's ability to execute its business strategy.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current occupancy rate and how does it compare to previous quarters?

Occupancy rates are critical for understanding demand for Iron Mountain's services and will heavily influence investor sentiment.

Can management provide any guidance on revenue growth for the upcoming quarters?

Given the company's recent performance, any positive guidance could reassure investors and help stabilize the stock.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating Iron Mountain's potential for recovery, particularly if occupancy rates stabilize and revenue growth resumes.

Supporting Evidence

Despite recent misses, the stock has shown resilience with positive reactions following earnings.

Options pricing suggests a significant move, indicating that traders expect a potential turnaround.

Historical patterns show that similar setups have led to positive outcomes in over 40% of cases.

Key Risk

If occupancy rates improve significantly, it could shift the narrative around Iron Mountain's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Iron Mountain can recover from its recent earnings misses and show signs of operational improvement.

Bull Confirmed If

A revenue growth rate of at least 5% year-over-year would confirm a bullish outlook.

Bear Confirmed If

If revenue declines further or occupancy rates drop below 80%, it would confirm a bearish outlook.

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, indicating that traders expect volatility around the earnings announcement.

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: 16 of 30 (53%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Iron Mountain beats expectations, history suggests the stock could rise significantly, confirming a turnaround in performance.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may see muted movement as investors weigh future prospects.

Miss

A miss could lead to a decline in stock price, with history suggesting an average move of around 0.03% on misses.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·3 sells

Members

Senate only

Est. Notional

$17,003.00–$80,000.00

disclosed dollar ranges

Most Active Members

R-OKMarkwayne MullinSen.
3

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on occupancy rates and how they compare to industry benchmarks.
2Any commentary on cost management strategies and their impact on margins.
3Insights into demand trends for storage and information management services.
4Management's outlook on revenue growth for the next quarter.
5Responses to analyst questions regarding recent earnings misses and future expectations.