Iron Mountain rises 1.6% after company sets November earnings release and call

What happened

Iron Mountain (IRM) rose 1.6% on October 15, 2026, after the company said it will release third-quarter 2026 results before the market open on November 5, 2026, and host a conference call the same day. The stock closed at $112.68, giving the company a market value of $34.07 billion. Trading volume was 0.8 times its 20-day average as the S&P 500 rose 0.3% on the day.

How big was the move

The session was an ordinary one for the stock: the change on the day was 1.6%, which was 0.9 times a typical daily move for this stock. Over the last five sessions the stock fell 0.3%, while the S&P 500 over five sessions also fell 0.3%. The stock’s beta is 0.98, indicating it tends to move about as much as the market.

That modest rise left the stock roughly in line with its sector: the Real Estate sector median rose 1.5% on the day, and the stock’s performance was 0.1 percentage points better than the sector median. Volume at 0.8 times its 20-day average suggested limited conviction behind the move.

The technical picture

The stock traded close to its key moving averages, sitting 0.9% below its 20-day moving average and 1.0% below its 200-day moving average. It was 3.7% below its 50-day moving average, while the 50-day average remained above the 200-day average, a sign of an established uptrend. The stock was 16.3% below its 52-week high, and its Relative Strength Index (14 days) stood at 46, in a neutral range between 30 and 70.

Shorter-term momentum has been mixed. Over one month the stock rose 0.5%, but it fell 9.0% over three months. Over one year it rose 9.0%, trailing the S&P 500 by 7.5 percentage points. Volatility was 30% annualized over 60 days, which is higher than 53% of its own readings over five years, indicating somewhat elevated variability versus its recent history.

Fundamentals and valuation

For the four quarters through June 30, 2026, revenue was $7.56 billion, which grew 17.4% from a year earlier; growth one quarter earlier had been 15.6%. Diluted earnings per share for that period were $1.40, and earnings per share growth from a year earlier rose 870.9%. Gross margin was 54.2%, down from 56.0% a year earlier, while operating margin improved to 18.8% from 16.3% a year earlier.

The company reported a free-cash-flow margin of 6.4% and a return on invested capital of 6.3%. The balance sheet showed net debt of 7.7 times EBITDA, and the share count over one year increased by 1.5%. Those metrics point to strong top-line momentum and margin improvement but also a leveraged balance sheet.

On valuation measures the stock traded at 80.5 times trailing earnings and 45.3 times expected forward earnings, with a free-cash-flow yield of 1.4%. The price-to-earnings ratio was lower than 52% of its own readings over the past five years, where the five-year median stood at 90.8 times earnings. In other words, the stock’s valuation embeds high expectations for future growth despite trading below its five-year median multiple.

The PromtFinance scores underscore this contrast: Growth scored 96 and Revisions 90, reflecting exceptional top-line momentum and positive analyst revisions. By contrast, Value scored 27 and Stability scored 24, both flagged as very weak, while Quality scored 76 and Momentum scored 65.

Earnings and analyst expectations

Iron Mountain said it will release third-quarter 2026 financial results before market open on Thursday, November 5, 2026, and will host a conference call the same day; the company said the earnings release, call slides and supplemental financial information will be provided in conjunction with the event. That notice was reported by Business Wire.

The company’s last quarterly report, on August 5, 2026, delivered earnings per share of $0.60 against $0.54 expected, 10.5% above estimates, marking the third consecutive quarter beating estimates. The average surprise over the last four reports was 6.5% above estimates, and the typical two-day reaction after recent reports was that the stock fell 0.7%.

Twenty-one analysts covered the stock, with a consensus rating of Buy and 67% of rated shares at Buy. The consensus price target was $142.75, which was 26.7% above the October 15, 2026, closing price.

What to watch

• November 5, 2026: Third-quarter 2026 earnings release and conference call before the open
• August 5, 2026: Last report; earnings per share $0.60 against $0.54 expected, 10.5% above estimates
• Consensus price target $142.75, 26.7% above the closing price
• Net debt of 7.7 times EBITDA and free-cash-flow margin of 6.4%