WillScot Mobile Mini Q4 2021 Earnings Report
Key Takeaways
WillScot Mobile Mini Holdings reported a strong fourth quarter and full year 2021, driven by commercial momentum and strategic acquisitions. Q4 revenue reached $518 million, with net income of $74 million and Adjusted EBITDA of $211 million. The company reaffirmed its full-year 2022 Adjusted EBITDA outlook of $810 million to $850 million.
Q4 revenue reached $518 million, net income was $74 million, and Adjusted EBITDA was $211 million.
Invested $147 million in seven acquisitions during the second half of 2021, expanding storage and modular unit offerings.
Generated $303 million in Free Cash Flow for the full year 2021, reinvesting for growth and returning capital to shareholders.
Reaffirmed full-year 2022 Adjusted EBITDA outlook of $810 million to $850 million, reflecting robust demand across all end markets.
WillScot Mobile Mini
WillScot Mobile Mini
WillScot Mobile Mini Revenue by Segment
Forward Guidance
WillScot Mobile Mini reaffirmed its full-year 2022 Adjusted EBITDA outlook of $810 million to $850 million.
Positive Outlook
- Confident in achieving the higher end of the revenue range.
- Expecting margins to expand as recent acquisitions ramp up.
- Investing in human capital to support top-line growth aspirations.
- Making specific investments in inventory and customer relationship management processes.
- Targeting a $500 million Free Cash Flow run-rate milestone in the second half of 2022.
Challenges Ahead
- Recent acquisitions were dilutive to margins in Q4.
- Ongoing investments in human capital will impact margins.
- Specific investments in inventory and CRM technology will affect margins.
- The guidance is subject to risks and uncertainties.
- Information reconciling forward-looking Adjusted EBITDA to GAAP financial measures is unavailable without unreasonable effort.
Revenue & Expenses
Visualization of income flow from segment revenue to net income