Mobile Infrastructure reports Q1 EPS (9c) vs (18c) last year

Reports Q1 revenue $8.8M vs $7.1M last year. Commenting on the results, Manuel Chavez III, Chief Executive Officer, said, “Our first quarter results were in line with our expectations and represented a solid start to the year. Year-on-year revenue growth of 24% reflected mid-single-digit organic growth and the accounting benefit of the shift from leased to management contracts at 26 of our properties. Organic growth in the quarter was led by increases in monthly contract parking revenues, and a pick-up in demand at parking assets adjacent to retail locations. Additionally, we leveraged our technology advantages and local insight in key markets to drive incremental demand for shorter-term monthly contracts to absorb excess capacity.”