The long slump in the energy sector has hurt many companies, but few would immediately realize that storage solutions specialist Mobile Mini (NASDAQ: MINI) might be one of them. Yet Mobile Mini's acquisition of a tank and pump solutions business was an attempt to capitalize on the long-term opportunity to diversify by giving the company a more specialized aspect in part of its overall corporate structure.
Unfortunately, that move proved to be ill-timed, coming as it did at the beginning of a long decline for the energy companies that would ordinarily have been Mobile Mini's new customers.
Coming into Thursday's second-quarter financial report, Mobile Mini investors had high hopes that the much-watched energy segment would once again help lift the company's overall results. The numbers in the tank and pump solutions arena were indeed impressive, but some of the other numbers were more mixed and left investors uncertain about whether better times are really ahead for Mobile Mini in the near future.
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