Iron Mountain Incorporated (IRM) Earnings Call Transcripts
Iron Mountain Incorporated's Latest Earnings Call - Q2 FY2026
In the second quarter of 2026, Iron Mountain Incorporated (IRM) reported a robust performance with revenues of $2.03 billion, reflecting a 19% year-over-year increase and exceeding expectations by approximately $65 million. Adjusted EBITDA reached a record $727 million, up 16% year-over-year, also surpassing prior guidance. Management raised full-year guidance, now projecting total revenue between $7.94 billion and $8.01 billion, indicating strong momentum driven by growth in the Asset Life Cycle Management (ALM) and data center segments.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $2.03 billion (beat) |
| Adjusted EBITDA | $727 million (beat) |
| AFFO | $433 million (beat) |
| ALM Revenue Growth | 88% (positive) |
| Data Center Revenue | $263 million (beat) |
| Operating Cash Flow | $888 million (positive) |
Guidance from management
Management raised full-year revenue guidance to a range of $7.94 billion to $8.01 billion, with adjusted EBITDA expected between $2.945 billion and $2.975 billion. This reflects continued confidence in double-digit growth across key segments.
What analysts pressed on
Analysts expressed concerns regarding the impact of foreign exchange fluctuations on revenue, noting that the strengthening dollar could affect future earnings. There were also inquiries about the sustainability of growth rates in the data center segment given the lumpiness of large leases.
Main topics on the call
- Revenue Growth Acceleration — Iron Mountain's revenue grew 19% year-over-year, driven by a 17% organic growth rate. CEO Bill Meaney stated, "Our team delivered another outstanding performance with record-breaking second quarter results exceeding our ...
- Data Center Business Expansion — The data center segment reported a 39% year-over-year revenue increase, with significant leasing activity. Meaney highlighted that they "leased 30 megawatts in the second quarter and another 75 megawatts in July," indica...
- Asset Life Cycle Management (ALM) Growth — ALM revenue surged 88% year-over-year, significantly exceeding projections. CFO Barry Hytinen noted that this growth was driven by both enterprise and hyperscale decommissioning channels, with enterprise growth exceeding...
- Increased Financial Guidance — Management raised full-year guidance for total revenue to $7.94 billion to $8.01 billion, reflecting a 16% growth at the midpoint. Hytinen stated, "Based on this strong performance and continued momentum in our business,...
Read the full Iron Mountain Incorporated transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Iron Mountain Incorporated
Iron Mountain Incorporated (IRM) is a publicly listed company in the Specialized REITs industry, within the Real Estate sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 65 calls on record spanning February 13, 2020 to August 5, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 65 Iron Mountain Incorporated earnings call transcripts on record, spanning February 13, 2020 to August 5, 2026. Based on this history, Iron Mountain Incorporated reports quarterly. The most recent call on file is dated August 5, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- IRM
- Exchange
- NYSE
- Country
- US
- Sector
- Real Estate
- Industry
- Specialized REITs
- Calls on record
- 65
- First call
- February 13, 2020
- Most recent
- August 5, 2026
- Reporting cadence
- quarterly