earnings
confidence high
sentiment positive
materiality 0.80
WillScot Mobile Mini Q3 revenue $605M +5%, Adj. EBITDA $266M +11%, margin 43.9%
WillScot Holdings Corp
2023-Q3 EPS reported
$1.91
revenue$1,752,391,000
- Revenue $605M (+5% YoY); income from continuing ops $92M (+17%); Adj. EBITDA $266M (+11%), margin 43.9% (+250 bps).
- Free Cash Flow $148M (+77% YoY); free cash flow margin 24.4%; repurchased 5.0M shares for $220M.
- Modular segment revenue +7% to $388M; Storage segment revenue +1% to $217M; pricing up but units on rent down.
- Invested $333M in two acquisitions; completed $500M senior notes at 7.375% due 2031; leverage at 3.3x.
- Announced Investor Day March 4, 2024; 2023 guidance: ~$1,058M Adj. EBITDA, ~$550M Free Cash Flow.