Send me real-time posts from this site at my email

Why Shares of Mobile Mini Popped Today

What happened

Shares of Mobile Mini (NASDAQ: MINI) jumped on Tuesday after the supplier of portable storage solutions reported its first-quarter results. The company beat analyst estimates across the board, with both the storage solutions and the tank & pump solutions businesses posting growth. The stock was up about 10% at 11:45 a.m. EDT.

So what

Mobile Mini reported first-quarter revenue of $149.7 million, up 6.4% year over year and about $2 higher than the average analyst estimate. Rental revenue totaled $142.2 million, up 7.5% year over year. Storage solutions accounted for $112.7 million of rental revenue, while tank & pump solutions generated $29.4 million of rental revenue.

Image source: Mobile Mini.

Non-GAAP earnings per share came in at $0.41, up from $0.33 in the prior-year period and $0.03 better than analysts were expecting. Adjusted EBITDA grew 15.8% year over year, with the tank & pump solutions segment producing 35.3% adjusted EBITDA growth.

Now what

Mobile Mini expects the tank & pump business to perform well for the rest of 2019. The North American storage business is also on pace to grow this year, with pending orders tracking well above prior-year levels.

"Overall, North American economic indicators are positive, and for 2019 rental revenue growth we expect to exceed our Evergreen target, while delivering margin expansion, strong free cash flow, and meaningful de-leveraging," said CEO Erik Olsson.

10 stocks we like better than Mobile Mini
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Mobile Mini wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of March 1, 2019

Timothy Green has no position in any of the stocks mentioned. The Motley Fool recommends Mobile Mini. The Motley Fool has a disclosure policy.


Popular posts

Welcome!!! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue