Mobile Mini Misses on Bottom Line, Beats on the Top

Portable storage specialist Mobile Mini reported third-quarter results today before the markets opened, showing that it posted total revenues of $105.5 million, a 6.6% increase from the same period in the previous year, and just ahead of the $104.3 million Capital IQ consensus estimate.

While adjusted net income came in at $13 million, or $0.28 per share, slightly higher than the $12.2 million, or $0.27 per share, in the same period in 2012, it was $0.03-per-share worse than the CapIQ estimates of $0.31 per share.

Mobile Mini says it was able to rent out more of its storage units and do so at higher rates, and that it expects to continue adding storage units that are currently idle to its active stream.

The portable storage specialist didn't provide guidance for the coming quarter, but analysts anticipate Mobile Mini will post earnings of $0.35 per share in the fourth quarter on revenues of $106.3 million.

Shares of the portable storage company were off less than 1% in midday trading.


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