Analyst Consensus ?
ConsensusHold21 ratings
Bullish1466.7%
Neutral29.5%
Bearish523.8%
Iron Mountain Incorporated · IRM · FY2025 Q2 · Calendar Q3 2025
Iron Mountain pairs record Q2 growth with a broader data-center pipeline
The supplied analysis supports the hypothesis that earnings growth and resilient demand can underpin Iron Mountain’s outlook: management reported record Q2 performance, raised full-year guidance and highlighted broad operating drivers. The case is not unqualified; lease timing, power constraints, ALM pricing, acquisition integration and contract visibility could weaken the trajectory.
Reported Before market openNYSEReal Estate
$33.74B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.24
Consensus $1.19
EPS surprise
+4.2%
Reported versus consensus
Reported revenue
$1.71B
Consensus $1.76B
Revenue surprise
-2.7%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-5.8%
Event window
SPY move
+0.8%
Same window
Abnormal move
-6.5%
Stock minus SPY
Volume
4.6×
Versus trailing sessions
Subsequent drift
+1.2%
Up to 20 sessions
IRMSPY benchmark
Ask FN2 about IRM FY2025 Q2
Transcript, numbers and history already loaded
Why did IRM fall 5.8% after beating EPS estimates in FY2025 Q2?What changed in IRM's guidance and outlook in FY2025 Q2?Give me the bull and bear case for IRM after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior analysis, Iron Mountain’s narrative shifted toward stronger execution and a larger set of expansion initiatives: the current analysis highlights AI agents in DXP, the CRC India acquisition, a 500 MW data-center pipeline and 24% data-center revenue growth. It also identifies a slight slowdown in new lease signings and greater execution demands.
Guidance delta
Management raised full-year 2025 revenue, adjusted EBITDA and AFFO guidance, continuing the prior quarter’s positive guidance direction.
Key takeaways
- The current analysis describes record Q2 revenue and adjusted EBITDA with double-digit growth across segments.
- Growth drivers include physical records, the Insight DXP platform, data-center rentals and ALM.
- The DXP roadmap adds AI capabilities, while the data-center pipeline is being built over two to three years.
- The growth case is supported by demand and raised guidance, but lease timing, power delivery and execution remain key tests.
Management priorities
- Expand the Insight DXP platform with AI-enabled workflow automation
- Integrate the CRC India digitization acquisition
- Deliver pre-leased data-center assets in key hubs
- Pursue additional government digitization contracts
- Build the data-center pipeline across core markets
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$113.39Current
$58Low
$120.46Average
$155High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Overweight | Overweight | Maintain | Sep 8, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 27, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 6, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | May 1, 2026 |
| Freedom Broker | Buy | Buy | Maintain | Mar 4, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Nov 27, 2024 |
| Stifel | Buy | Buy | Maintain | Sep 23, 2024 |
| Goldman Sachs | Buy | Buy | Maintain | Aug 2, 2024 |
| Exane BNP Paribas | Outperform | Outperform | Maintain | Dec 14, 2022 |
| Credit Suisse | Underperform | Underperform | Maintain | Feb 25, 2022 |
| Baird | Neutral | Underperform | Upgrade | Aug 2, 2019 |
| Bank of America | Underperform | Neutral | Downgrade | Jul 11, 2019 |
| B of A Securities | Underperform | Neutral | Downgrade | Jul 11, 2019 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Oct 26, 2018 |
| Berenberg | Buy | Buy | Maintain | Sep 20, 2018 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Oct 18, 2017 |
| Deutsche Bank | Sell | Hold | Downgrade | Jun 7, 2017 |
| Jefferies | Underperform | Hold | Downgrade | Jun 2, 2015 |
| PiperJaffray | Overweight | Overweight | Maintain | Sep 20, 2012 |
| Piper Sandler | Overweight | Overweight | Maintain | Sep 20, 2012 |
| Citigroup | Buy | Neutral | Upgrade | May 4, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $113.39. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Redburn Partners | Analyst unavailable | $132 | $114.34 | +16.4% | Sep 21, 2026 |
| Barclays | Analyst unavailable | $144 | $116.86 | +27.0% | Sep 8, 2026 |
| Truist Financial | Analyst unavailable | $155 | $122.47 | +36.7% | Aug 27, 2026 |
| Wells Fargo | Eric Luebchow | $140 | $127.13 | +23.5% | Aug 6, 2026 |
| Barclays | Brendan Lynch | $143 | $126.31 | +26.1% | Jul 1, 2026 |
| Truist Financial | Tobey Sommer | $140 | $126.66 | +23.5% | May 1, 2026 |
| Loop Capital Markets | Zhiger Kurmet | $130 | $107 | +14.6% | Mar 4, 2026 |
| Barclays | Analyst unavailable | $127 | $110.29 | +12.0% | Feb 23, 2026 |
| Barclays | Analyst unavailable | $126 | $90.4 | +11.1% | Jan 13, 2026 |
| Jefferies | Jonathan Petersen | $120 | $99.89 | +5.8% | Sep 22, 2025 |
| Wells Fargo | Eric Luebchow | $135 | $123.42 | +19.1% | Oct 17, 2024 |
| Goldman Sachs | George Tong | $130 | $122 | +14.6% | Oct 16, 2024 |
| Barclays | Brendan Lynch | $133 | $118.84 | +17.3% | Oct 9, 2024 |
| Stifel Nicolaus | Shlomo Rosenbaum | $140 | $115.36 | +23.5% | Sep 23, 2024 |
| Wells Fargo | Eric Luebchow | $90 | $78.61 | -20.6% | Mar 15, 2024 |
| RBC Capital | Jonathan Atkin | $68 | $59.84 | -40.0% | Aug 22, 2023 |
| RBC Capital | Analyst unavailable | $58 | $52.26 | -48.8% | Dec 16, 2022 |
| BNP Paribas | Analyst unavailable | $66 | $55.54 | -41.8% | Dec 14, 2022 |
| Barclays | Brendan Lynch | $58 | $49.46 | -48.8% | Jun 25, 2022 |
| Stifel Nicolaus | Shlomo Rosenbaum | $62 | $55.42 | -45.3% | Apr 16, 2022 |
Track every rating change on IRM the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationEstablished in 1951, Iron Mountain Incorporated (NYSE: IRM) has become the world's foremost authority in storage and information management solutions. More than 225,000 organizations globally trust Iron Mountain with their critical assets. With an extensive physical infrastructure spanning over 90 million square feet, the company operates approximately 1,450 facilities in around 50 countries. Within this vast network, Iron Mountain safeguards billions of valued items, including vital corporate records, highly confidential digital assets, and invaluable cultural and historical artifacts. Their comprehensive suite of offerings encompasses secure document archiving, robust information governance, digital transformation initiatives, confidential destruction services, along with advanced data centers, cloud computing solutions, and specialized art storage and logistics. These services empower clients to mitigate costs and risks, ensure regulatory compliance, facilitate swift disaster recovery, and enable a more efficient, digital-first operational model.
Historical context
All IRM earningsLatest beats and misses
Who reports nextBeat on EPS
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- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the IRM recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-04T08:30:43.633821+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-04T08:30:43.631049+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-04. For educational purposes only; not investment advice.