Mobile Mini Reports Q3 2017 Results and Announces Quarterly Dividend

- October 20th, 2017

Mobile Mini (NASDAQ GS:MINI) has announced its actual and adjusted financial results for the quarter ended September 30, 2017. As quoted in the press release:  Total revenues were $136.6 million and rental revenues were $127.7 million, as compared to $128.9 million and $121.8 million, respectively, for the same period last year. Rental revenues for the … Continued

Mobile Mini (NASDAQ GS:MINI) has announced its actual and adjusted financial results for the quarter ended September 30, 2017.
As quoted in the press release:

 Total revenues were $136.6 million and rental revenues were $127.7 million, as compared to $128.9 million and $121.8 million, respectively, for the same period last year.
Rental revenues for the Storage Solutions and Tank & Pump Solutions businesses for the current quarter were $104.5 million and $23.2 million, respectively.
The Company recorded net income of $11.2 million, or $0.25 per diluted share, in the third quarter of 2017, as compared to net income of $12.7 million, or $0.29 per diluted share, for the third quarter of 2016. On an adjusted basis, third quarter net income was $11.8 million, or $0.27 per diluted share, as compared to adjusted net income of $13.7 million, or $0.31 per diluted share, for the third quarter of 2016. Adjusted EBITDA was $45.5 million and adjusted EBITDA margin was 33.3% for the third quarter of 2017.
Dividend
The Company’s Board of Directors declared a cash dividend of 22.7 cents per share, which will be paid on November 29, 2017 to shareholders of record on November 15, 2017.
Third Quarter 2017 Highlights

  • Delivered a strong 7.0% year-over-year increase in Storage Solutions rental revenues.
  • Achieved third sequential quarter of Tank & Pump Solutions rental revenue growth.
  • Increased total Storage Solutions average units on rent by 5.3% year-over-year.
  • Raised Storage Solutions rental rates by 2.9% year-over-year, with rates on new rentals up 3.9%.
  • Grew year-to-date seasonal orders through September 30, 2017 by 21% compared to the prior year.

Click here to read the full press release.

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