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Mar 31, 2022
WillScot Mobile Mini Q1 2022 Earnings Report
WillScot Mobile Mini's Q1 2022 earnings showcased growth across all segments, leading to an increased 2022 outlook.
Key Takeaways
WillScot Mobile Mini Holdings reported strong first-quarter 2022 results, with revenue of $509 million, net income of $51 million, and Adjusted EBITDA of $192 million. The company saw growth in all segments, closed three acquisitions year-to-date, generated $55 million of Free Cash Flow, and returned $77 million to shareholders. Increased full-year 2022 Adjusted EBITDA outlook to $860 million to $900 million.
First quarter revenue reached $509 million, with net income at $51 million and Adjusted EBITDA at $192 million.
Three acquisitions were completed year-to-date through April 2022.
Free Cash Flow for the quarter was $55 million, with a Free Cash Flow Margin of 13% over the last twelve months.
Shareholders received $77 million through the repurchase of 2.1 million shares.
Revenue by Segment
Forward Guidance
WillScot Mobile Mini Holdings raised its full-year 2022 outlook to $2.1B to $2.2B of revenue and $860 million to $900 million of Adjusted EBITDA.
Positive Outlook
- Strong performance of the business year-to-date.
- Positive outlook for the remainder of the year.
- Adjusted EBITDA margin is expected to expand approximately 200 basis points year-over-year.
- Focus on growing predictable reoccurring revenue streams.
- Expect outstanding results in the remainder of 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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