By Denny Jacob
Mobile Infrastructure shares declined 34% in premarket trading on softer net operating income in its first quarter.
Shares were trading around $2.51 on Wednesday. The stock is down 15% on the year through Tuesday's close.
The parking facilities owner said net operating income-- defined as revenue less property taxes and operating expenses-- declined to $4.5 million from $5.4 million in the prior-year period.
Chief Executive Manuel Chavez said the metric was constrained by several factors in the quarter, including a lower number of special events and reduced attendance at those events.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
May 14, 2025 07:41 ET (11:41 GMT)
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