Mobile Mini, Inc. (NASDAQ:MINI) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Mobile Mini, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 38.89% to $0.25 in the quarter versus EPS of $0.18 in the year-earlier quarter.
Revenue: Rose 3.56% to $97.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mobile Mini, Inc. reported adjusted EPS income of $0.25 per share. By that measure, the company missed the mean analyst estimate of $0.26. It missed the average revenue estimate of $99.3 million.
Quoting Management: Erik Olsson, Mobile Mini’s President and Chief Executive Officer, commented, “We generated further improvement in utilization during the second quarter, which resulted in solid comparable period leasing revenue growth and increased profitability. In addition, we saw increased momentum beginning in June and continuing into the third quarter. We expect these favorable trends to continue through the second half of 2013, and into 2014, particularly as we hone our sales efforts and seek to expand our geographic footprint.”
Key Stats (on next page)…
Revenue decreased 0.45% from $97.94 million in the previous quarter. EPS decreased 7.41% from $0.27 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.34 to a profit $0.33. For the current year, the average estimate has moved down from a profit of $1.24 to a profit of $1.22 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)