Equity Profile

IRM

Iron Mountain Incorporated

Real EstateOther Specialized REITs$36.4B

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. The company plays a crucial role in helping businesses manage their physical and digital assets, which is increasingly important in a data-driven world.

Key Metrics to Watch

Revenue Growth

This metric will indicate how well Iron Mountain is expanding its business and attracting new customers.

N/A

Earnings Per Share (EPS)

EPS is a key profitability measure, and the market will closely watch if the company can improve its earnings after recent misses.

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 lower than the expected $1.27, resulting in a 52.76% surprise. Despite the disappointing earnings, the stock rose by 10.02% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautious ahead of the upcoming earnings report, especially given the company's recent history of missing earnings expectations. The focus will be on whether Iron Mountain can turn around its performance and provide positive guidance.

Bull Case

If Iron Mountain can show improved earnings and revenue growth, it may regain investor confidence and see a significant stock price increase.

Bear Case

Continued earnings misses could lead to further declines in stock price and a loss of investor trust, 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.

Will Iron Mountain's EPS exceed $0.60?

Given the company's recent history of significant earnings misses, any improvement in EPS will be closely scrutinized by investors.

What is the outlook for revenue growth in the next quarter?

Revenue growth is critical for Iron Mountain's long-term success, and any positive guidance could boost investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be overly pessimistic about Iron Mountain's ability to recover, given its recent earnings history. There is potential for the company to surprise investors with improved operational efficiency and cost management.

Supporting Evidence

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

Options pricing suggests a significant move is expected, indicating that traders are anticipating a potential surprise.

Key Risk

If the EPS comes in above $0.70, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Iron Mountain can recover from its recent earnings disappointments and show signs of growth.

Bull Confirmed If

A positive EPS of $0.70 or higher would confirm the bull case and suggest a turnaround in profitability.

Bear Confirmed If

An EPS below $0.50 would reinforce the bear case and indicate ongoing struggles.

Pre-Earnings Positioning

Options Market

Implied Move

±6.9%

Historical Avg

±6.2%

In line with history

The options market is pricing in a move of about 6.9%, indicating that traders expect some 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: 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 and raises guidance, history suggests a potential stock increase of around 3.1%.

In-Line / Cautious

If the results are in line with expectations, management commentary may lead to a muted reaction, similar to past quarters.

Miss

If the company misses again, history suggests a possible decline of around 0.03%, reflecting ongoing investor concerns.

Preparation

Congressional Activity

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

Trades

0 buys·1 sell

Members

Senate only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

R-OKMarkwayne MullinSen.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer retention rates and how they are impacting revenue.
2Insights into operational efficiencies that could improve margins.
3Management's commentary on market conditions and demand for storage services.
4Guidance on revenue growth expectations for the next quarter.
5Any strategic initiatives aimed at expanding service offerings.

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Company Snapshot

Key Metrics to Watch

Revenue Growth

This metric will indicate how well Iron Mountain is expanding its business and attracting new customers.

N/A

Earnings Per Share (EPS)

EPS is a key profitability measure, and the market will closely watch if the company can improve its earnings after recent misses.

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 show improved earnings and revenue growth, it may regain investor confidence and see a significant stock price increase.

Bear Case

Continued earnings misses could lead to further declines in stock price and a loss of investor trust, 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.

Will Iron Mountain's EPS exceed $0.60?

Given the company's recent history of significant earnings misses, any improvement in EPS will be closely scrutinized by investors.

What is the outlook for revenue growth in the next quarter?

Revenue growth is critical for Iron Mountain's long-term success, and any positive guidance could boost investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

Supporting Evidence

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

Options pricing suggests a significant move is expected, indicating that traders are anticipating a potential surprise.

Key Risk

If the EPS comes in above $0.70, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Iron Mountain can recover from its recent earnings disappointments and show signs of growth.

Bull Confirmed If

A positive EPS of $0.70 or higher would confirm the bull case and suggest a turnaround in profitability.

Bear Confirmed If

An EPS below $0.50 would reinforce the bear case and indicate ongoing struggles.

Pre-Earnings Positioning

Options Market

Implied Move

±6.9%

Historical Avg

±6.2%

In line with history

The options market is pricing in a move of about 6.9%, indicating that traders expect some 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: 17 of 30 (57%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Iron Mountain beats expectations and raises guidance, history suggests a potential stock increase of around 3.1%.

In-Line / Cautious

If the results are in line with expectations, management commentary may lead to a muted reaction, similar to past quarters.

Miss

If the company misses again, history suggests a possible decline of around 0.03%, reflecting ongoing investor concerns.

Preparation

Congressional Activity

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

Trades

0 buys·1 sell

Members

Senate only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

R-OKMarkwayne MullinSen.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer retention rates and how they are impacting revenue.
2Insights into operational efficiencies that could improve margins.
3Management's commentary on market conditions and demand for storage services.
4Guidance on revenue growth expectations for the next quarter.
5Any strategic initiatives aimed at expanding service offerings.