Mobile Mini (MINI) Misses Q3 EPS by 7c, Beats on Revenues

Mobile Mini (NASDAQ: MINI) reported Q3 EPS of $0.25, $0.07 worse than the analyst estimate of $0.32. Revenue for the quarter came in at $136.6 million versus the consensus estimate of $133.62 million.

Third Quarter 2017 Highlights

• Delivered a strong 7.0% year-over-year increase in Storage Solutions rental revenues.
• Achieved third sequential quarter of Tank & Pump Solutions rental revenue growth.
• Increased total Storage Solutions average units on rent by 5.3% year-over-year.
• Raised Storage Solutions rental rates by 2.9% year-over-year, with rates on new rentals up 3.9%.
• Grew year-to-date seasonal orders through September 30, 2017 by 21% compared to the prior year.
• Increased average Storage Solutions unit utilization to 71.8% for the quarter and finished the quarter at 74.4%.
• Improved OEC utilization for Tank & Pump Solutions, averaging 66.6% for the quarter and ending the quarter at 72.8%.
• Achieved adjusted EBITDA of $45.5 million, with an adjusted EBITDA margin of 33.3%, despite year-over-year headwinds of $6.2 million in increased variable compensation expense.
• Generated net cash from operating activities of $32.6 million and strong free cash flow of $8.9 million.

For earnings history and earnings-related data on Mobile Mini (MINI) click here.

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