WillScot Mobile Mini Q1 revenue up 25% to $565M, Adj EBITDA up 47% to $247M, raises 2023 guidance

WillScot Holdings Corp

2023-Q1 EPS reported $1.00 revenue$565,468,000

Revenue $565M (+25% YoY); income from continuing ops $76M (+96%); Adj EBITDA $247M (+47%) with margin 43.7% (+650 bps).
Free cash flow $103M (+88% YoY); Free cash flow margin 18%. Leverage reduced to 3.0x Net Debt/Adj EBITDA.
Raised 2023 Adj EBITDA guidance to $1,025-1,075M; lowered Net Capex guidance to $250-300M.
Repurchased 4.6M shares for $216M in Q1, reducing economic share count 9.5% over last 12 months.
Completed two tuck-in acquisitions for $80M; divested UK Storage for $418M in January 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WillScot Holdings Corp reported first quarter ended March 31, 2023 results: revenue $565 million, net income $76 million. Guidance raised.

Period: first quarter ended March 31, 2023
Revenue: $565 million
Net income: $76 million
Guidance: raised
Result: reported results

Exact text from the filing

First quarter revenue increased 25% to $565 million, income from continuing operations increased 96% to $76 million, and Adjusted EBITDA from continuing operations increased 47% to $247 million year-over-year.

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Source: SEC EDGAR

accession 0001647088-23-000024

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