WillScot Mobile Mini Q1 2022 Earnings Report
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.
WillScot Mobile Mini
WillScot Mobile Mini
WillScot Mobile Mini 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