Mobile Infrastructure Corp earnings date
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Mobile Infrastructure Corp (BEEP) Q3 2026 Earnings Report
BEEP Q3 2026 EPS Results
- Actual EPS
- -$0.06
- Consensus EPS
- -$0.06
- Beat/Miss
- Missed by -$0.00
- One Year Ago EPS
- -$0.15
BEEP Q3 2026 Revenue Results
- Actual Revenue
- $9.58M
- Expected Revenue
- $9.21M
- Beat/Miss
- Beat by +$371.00K
- YoY Revenue Growth
- +5.48%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/10/2026
- Time
- After Close
- Conference Call
- Tuesday, November 10, 2026
Mobile Infrastructure Corp's next earnings date is estimated for March 17, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was predominantly positive, with strong same-location revenue, NOI and adjusted EBITDA growth; improving utilization, contract volumes and RevPAS; meaningful debt repayment; and reaffirmed full-year guidance. The main negatives were that revenue is expected at the low end of its guidance range, asset dispositions are taking longer, transient demand remains seasonal, and the company continues to report a net loss.
Mobile Infrastructure is reaffirming full year 2026 guidance, with revenue expected to be at the low end of the range of $35 million to $38 million; NOI is expected to be in the range of $21.5 million to $23 million, representing year-on-year growth of 7% at the midpoint and 10% growth on a same location basis; adjusted EBITDA is forecasted to range from $15 million to $16.5 million, representing year-on-year growth of 10% at the midpoint and 13% growth on a same location basis. This guidance reflects continued contract volume growth, benefits of venue reopenings and recoveries across the portfolio, and the positive impact of technology and pricing optimization initiatives, and does not include any future asset sales or acquisitions under the asset rotation program. Management expects the utilization process to continue through 2027, with a broader opportunity for REIT expansion emerging in the second half of 2027 and into early 2028; portfolio level utilization of 80% to 90% is where the company starts considering some specific rate band increases, broad rate expansion is expected towards the back half of 2027, and broad rate expansion in 2028 is expected after parker mix optimization through 2027.
- Strongest Operating Quarter of 2026Mobile Infrastructure reported its strongest operating quarter of 2026. Same-location revenue grew 12.8% year-over-year, same-location NOI increased 18.4% to $6.3 million, and adjusted EBITDA grew 23.2% to $4.8 million.
- Third Consecutive Quarter of Accelerating NOI GrowthSame-location NOI growth accelerated from 4% in the first quarter to 12% in the second quarter and more than 18% in the third quarter. Year-to-date same-location NOI was $16.5 million, up 11.9%.
- Revenue Growth Driven by Contract and Transient VolumesThird-quarter total revenue was $9.6 million, up 5.5% from $9.1 million in the prior-year period. Same-location revenue was $9.6 million, up 12.8% from $8.5 million, primarily driven by growth in contract and transient volumes.
- Improved Utilization and Record RevPASTrailing 12-month portfolio utilization was just shy of 73%, up 8 percentage points year-over-year. Management also reported portfolio utilization up approximately 13 percentage points year-over-year in its quarterly comparison. RevPAS increased approximately 16% year-over-year to nearly $246, the highest quarterly RevPAS since tracking began, compared with $212 in the third quarter of 2025.
- Growth in Monthly Contract ParkingBaseline contract volumes increased approximately 13% year-over-year, with meaningful contributions from Cincinnati, Fort Worth and Detroit. Management cited residential parking, commercial relationships, targeted business development and demand shifts caused by nearby facility closures, surface-lot redevelopment and business relocations.
- Higher Transient Activity and Digital DistributionBaseline transient transactions grew 11% year-over-year, supported by online marketing initiatives and a strong events calendar. Third-party reservation revenue increased by up to 70% year-over-year in some cases, while average transient rates increased approximately 3% year-over-year.
- Market-Specific Demand RecoveryCincinnati transactions increased year-over-year following the convention center reopening, and Nashville transactions nearly doubled following the reopening of Second Avenue. The third quarter also benefited from conventions, festivals, concerts and sporting events across the markets.
- Operating Infrastructure and Technology InvestmentsThe company continued investing in internal data capabilities, KPI consistency, data transparency, operating-partner accountability, demand-pattern analysis, event-driven revenue capture, contract growth and attrition monitoring, and an internal pricing intelligence layer. Management is also bringing inventory and rate management back in-house through internal workflows and a proprietary operations layer.
- Pricing and Parker-Mix Optimization RoadmapManagement is prioritizing utilization and recurring customer relationships before broader pricing expansion. Parker-mix optimization is expected through 2027, with broad rate expansion of 5% or more expected toward the back half of 2027 as assets reach stabilized volumes. Portfolio-level rate-band increases generally begin at 80% to 90% utilization, according to management.
- Asset Rotation Program ProgressThrough the 36-month, $100 million asset rotation program, the company has generated approximately $33 million of cumulative disposition proceeds at a weighted average implied capitalization rate of approximately 2%. Approximately $25 million of assets are currently under contract for sale or in final negotiations.
- Debt Reduction and Capital DisciplineThe company has repaid $22.6 million of debt using asset-rotation proceeds. At September 30, 2026, total net debt outstanding was $198.3 million, and cash, cash equivalents and restricted cash totaled $10.6 million. Management said proceeds are being used to reduce higher-cost debt, improve portfolio quality, build market density and selectively acquire higher-quality assets.
- Expense and Property-Tax ManagementProperty taxes declined to $1.7 million from $1.8 million year-over-year and were down $0.4 million year-to-date on a same-location basis due to the company's property-tax appeal management process. Property operating expenses declined to $1.6 million from $1.8 million, while general and administrative expenses declined to $2.3 million from $2.4 million.
- Improved Net Loss and Adjusted EBITDANet loss improved to $2.6 million from $6.4 million in the prior-year quarter, which included a $2.5 million noncash impairment of real estate. Year-to-date adjusted EBITDA was $11.8 million, up 12.9%.
- Reaffirmed Full-Year 2026 GuidanceManagement reaffirmed full-year 2026 guidance, including revenue of $35 million to $38 million, NOI of $21.5 million to $23 million and adjusted EBITDA of $15 million to $16.5 million. At the midpoint, the NOI outlook represents 7% year-over-year growth and 10% growth on a same-location basis, while adjusted EBITDA represents 10% year-over-year growth and 13% growth on a same-location basis.
- Upcoming Lease-to-Management ConversionsOne lease is expected to convert to a management contract this year, with several garages expected to convert in 2027. After those conversions, one lease will remain, running through 2030. Management said the 2027 conversions will be more impactful and provide additional market data.
- Continued Corporate and Recurring Parking DemandManagement reported continued corporate demand across its markets, including demand for blocks of parking and employee parking tied to people returning to the office. The company also expects additional monthly parking contracts to begin contributing in the fourth quarter.
BEEP Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 17, 2027 | 2026 (Q4) | -0.07- | -0.19 | ― | ― |
| Nov 10, 2026 | 2026 (Q3) | -0.06-0.06 | -0.15 | 60.00% (+0.09) | |
| Aug 11, 2026 | 2026 (Q2) | -0.09-0.08 | -0.11 | 27.27% (+0.03) | |
| May 12, 2026 | 2026 (Q1) | -0.10-0.18 | -0.1 | -80.00% (-0.08) | |
| Mar 02, 2026 | 2025 (Q4) | -0.11-0.19 | -0.03 | -533.33% (-0.16) | |
| Nov 10, 2025 | 2025 (Q3) | -0.07-0.15 | -0.06 | -154.24% (-0.09) | |
| Aug 12, 2025 | 2025 (Q2) | -0.09-0.11 | -0.06 | -74.60% (-0.05) | |
| May 12, 2025 | 2025 (Q1) | -0.07-0.10 | -0.09 | -7.53% (-0.01) | |
| Mar 10, 2025 | 2024 (Q4) | -0.08-0.03 | -0.34 | 91.23% (+0.31) | |
| Nov 12, 2024 | 2024 (Q3) | ―-0.06 | -1.77 | 96.66% (+1.71) |
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.
