Mobile Mini, Inc. (MINI) Misses Q1 EPS by 4c

Mobile Mini, Inc. (NASDAQ: MINI) reported Q1 EPS of $0.17, $0.04 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $102.4 million versus the consensus estimate of $101.3 million.

Erik Olsson, Mobile Mini’s President and Chief Executive Officer, commented, “We had a great start to 2014 with a strong double-digit year-over-year increase in leasing revenues, and an underlying adjusted EBITDA margin of almost 38%, excluding our incremental investments in fleet repairs and repositioning. Once again, we achieved significant improvement in rental rates due, in part, to the ongoing refinement of our sales strategies and execution, which helped offset challenging weather conditions in many of our markets during our seasonally lowest quarter.”

Mr. Olsson added, “We are executing on our strategic plan. As was the case through the second half of 2013, we repaired and repositioned more units to high demand areas, benefiting utilization, and plan to do so for the balance of 2014. To drive accelerated growth, we have and continue to make investments in our sales and marketing organization, our infrastructure, and our employees, including aligning compensation with Company performance. Regarding our outlook, we continue to expect our year-over-year top line growth rate and profitability to exceed that of 2013, which will lead to increased free cash flow generation for the year.”

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

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