Mobile Infrastructure Reports Fourth Quarter 2023 Financial Results
Mobile Infrastructure Corporation (BEEP)
Company Research
Source: Business Wire
--Fourth Quarter and Full Year Parking Asset Portfolio Performance Substantially Ahead of Year-Ago Levels----Converted Two-Thirds of Portfolio to Management Contracts----2024 Guidance Anticipates Accelerating Growth in Parking Asset Portfolio Performance-- CINCINNATI--(BUSINESS WIRE)--Mobile Infrastructure Corporation (NYSE American: BEEP), (“Mobile”, “Mobile Infrastructure” or the “Company”), owners of a diversified portfolio of parking assets throughout the United States, today reported results for the fourth quarter and full year ended December 31, 2023.Management CommentaryCommenting on the results, Manuel Chavez III, Chief Executive Officer, said “Our asset portfolio performed well in the fourth quarter, with net operating income up over 27% from the prior year quarter, reflecting positive leasing trends and reduced operating expenses. These results capped a transformative year for Mobile Infrastructure in which we completed a merger transaction, deleveraged the balance sheet,
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