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Mobile Infrastructure Corp (BEEP)
:BEEP
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Earnings Data
Report Date
Mar 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.08Last Year’s EPS
-0.34Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 14, 2024
|% Change Since: 34.03%
|Next Earnings Date:Nov 13, 2023
Earnings Call Sentiment|Positive
The earnings call reflects a generally positive outlook with significant revenue growth and strategic shifts to management contracts driving improved financial performance. The return to office trends and conversion of commercial spaces to residential apartments are expected to provide further growth opportunities. However, challenges remain with increased operating expenses and transient parking demand. Overall, the highlights significantly outweigh the lowlights.Company Guidance
In the third quarter of 2024, Mobile Infrastructure Corporation reported several key metrics indicating progress and strategic shifts in its operations. The company achieved a 3.8% increase in net operating income (NOI), culminating in a year-to-date growth of 9.5%, aligning with their high single-digit guidance. Revenue surged by 21% due to the conversion of 29 out of 41 parking assets to management contracts from leases, alongside modest organic growth. The company's revenue per available stall (RevPas) exhibited year-on-year growth for the first time in 2024. Mobile also established a $40 million line of credit to enhance capital flexibility, redeeming $7.8 million of preferred shares and reducing outstanding preferred shares from $39.5 million to $23.7 million. Revenue for Q3 2024 reached $9.8 million, a 21% increase from the previous year, while general and administrative expenses decreased to $2.7 million from $4.2 million. The company's balance sheet reflected $14.3 million in cash with total debt at $203.3 million. Mobile reaffirmed its 2024 guidance, expecting revenue between $38 million and $40 million and NOI between $22.5 million and $23.25 million.Net Operating Income Increase
Net operating income (NOI) increased by 3.8% in the third quarter, bringing year-to-date NOI growth to 9.5%.
Revenue Growth
Revenue grew by 21% year-over-year, largely due to the conversion of parking assets to managed contracts and organic growth.
Strategic Shift to Management Contracts
Converted 29 parking assets to management contracts, allowing better control over expenses and improved utilization through data insights.
Positive Trends in Parking Volume and RevPas
Third quarter recurring contract parking volumes increased year-on-year, and revenue per available stall (RevPas) showed year-on-year growth for the first time in 2024.
Return to Office Trends
Early indications of return to office trends, especially in healthcare, professional services, and food and beverage sectors, are expected to benefit future results.
Conversion of Commercial Spaces
Conversion of Class B downtown commercial offices to residential apartments is expected to drive demand for parking and increase revenue.
Share Repurchase and Preferred Share Redemption
Established a $40 million line of credit and authorized a $10 million share repurchase program, repurchasing approximately 250,000 shares at $3.16 per share on average.
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BEEP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BEEP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $3.35 | $3.21 | -4.18% |
| Aug 13, 2024 | $2.91 | $2.77 | -4.81% |
| May 15, 2024 | $3.55 | $3.60 | +1.41% |
| Mar 14, 2024 | $3.78 | $3.71 | -1.85% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Mobile Infrastructure Corp (BEEP) report earnings?
Mobile Infrastructure Corp (BEEP) is schdueled to report earning on Mar 13, 2025, TBA Not Confirmed.
What is Mobile Infrastructure Corp (BEEP) earnings time?
Mobile Infrastructure Corp (BEEP) earnings time is at Mar 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BEEP EPS forecast?
BEEP EPS forecast for the fiscal quarter 2024 (Q4) is -0.08.
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