Iron Mountain Reports Second Quarter 2026 Results
Iron Mountain (NYSE: IRM) reported Q2 2026 revenue of $2.0 billion, up 18.5% year over year on a reported basis and 17.6% excluding FX. Net income was $106.1 million versus a $43.3 million loss in Q2 2025. Adjusted EBITDA rose to $727.0 million, and AFFO was $432.7 million ($1.44/share). The company increased 2026 guidance and declared a $0.864 dividend per share.
How this was made
The 30-second read
Why it matters
Q2 2026 performance shows broad-based growth (revenue, net income, Adjusted EBITDA, AFFO) and management increased 2026 financial guidance, which can shift forward estimates and sentiment. The dividend was also declared for Q3 2026.
Market read
Traders can update models around IRM’s forward earnings power using the disclosed Q2 metrics and the explicit guidance increase, plus monitor data center leasing momentum.
What to watch
The release provides leasing volume (110 MW YTD, 13 MW in Q2, 75 MW in July) but not occupancy, pricing, or renewal assumptions, which are key for sustaining AFFO growth.
Background
Iron Mountain is an information management services provider with growth initiatives in data center leasing, digital services, and asset lifecycle management (ALM).
Ticker impact
Iron Mountain reported Q2 2026 revenue of $2.0B (+18.5% reported) and increased full-year guidance on strong operational performance.
Likely positive bias for IRM shares into the next trading session as traders reprice forward AFFO/EBITDA expectations.
The article discloses multiple Q2 beats (revenue, net income, Adjusted EBITDA, AFFO) plus an explicit full-year guidance increase, which are direct drivers for valuation and positioning.
Market effects
Supports the narrative of continued demand for data center leasing and digital/ALM growth, potentially improving sentiment for storage and data center REIT-adjacent operators.
No specific regional macro linkage provided; impact is primarily company-specific.
Iron Mountain operates across 61 countries, but the disclosed drivers are operational (leasing, growth segments) rather than region-specific.
Counterpoint
Strong headline growth may still mask margin or lease economics risk not detailed here; guidance increase could be partially FX or mix-driven.
Key entities
- companyIron Mountain Incorporated
Reported Q2 2026 results and increased full-year guidance; declared a quarterly cash dividend.
- executiveWilliam L. Meaney
CEO who attributed outperformance to execution of growth plans and continued client trust.
