Mobile Mini (MINI) Tops Q4 EPS by 9c

Mobile Mini (NASDAQ: MINI) reported Q4 EPS of $0.66, $0.09 better than the analyst estimate of $0.57. Revenue for the quarter came in at $15.3 million versus the consensus estimate of $162 million.

Kelly Williams, Mobile Mini’s President and Chief Executive Officer, remarked, “Our record free cash flow generation in 2019 reflects the strength of our business model and provides us with considerable flexibility in capital allocation. Our strong fourth quarter 2019 financial performance is highlighted by 7.6% year-over-year growth in consolidated adjusted EBITDA, along with margin expansion of 340 basis points to 42.7%. I am especially pleased with the performance of our North America Storage Solutions business which included rental revenue growth of 4.1% and a very robust adjusted EBITDA margin of 47.3%.”

Mr. Williams continued, “In the twelve months ended December 31, 2019, we executed our strategic plan and delivered on our Evergreen model. We also nearly doubled free cash flow in 2019 relative to the prior year. We enter 2020 from a position of operational and financial strength, with a large and diversified customer base and a sustainable operational cadence. On a consolidated basis, in 2020 we expect to continue to grow rental revenues by GDP plus 2% to 3% while expanding adjusted EBITDA margin and generating strong levels of consolidated free cash flow, exceeding 2019 amounts.”

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

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