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Dec 31, 2023
WillScot Mobile Mini Q4 2023 Earnings Report
WillScot Mobile Mini's Q4 2023 earnings showcased revenue growth, improved profitability, and strategic capital allocation.
Key Takeaways
WillScot Mobile Mini reported a 4% increase in revenue to $612 million and a 7% increase in Adjusted EBITDA to $288 million in Q4 2023. The company's Adjusted EBITDA Margin expanded by 160 basis points year-over-year to 47.0%. Free cash flow generation was strong at $166 million, up 35% year-over-year.
Revenue increased by 4% to $612 million, demonstrating continued growth.
Adjusted EBITDA rose by 7% to $288 million, reflecting enhanced profitability.
Free Cash Flow increased significantly by 35% to $166 million.
The company returned $136 million to shareholders through share repurchases.
Revenue by Segment
Forward Guidance
WillScot Mobile Mini issued FY 2024 Adjusted EBITDA outlook range of $1,125 million to $1,200 million, representing 6% to 13% growth versus 2023.
Positive Outlook
- Expects revenue to grow by 8% to $2,560 million.
- Anticipates Adjusted EBITDA to grow by 10% to $1,163 million.
- Margins are expected to increase by approximately 50 basis points.
- Clear path to $700 million of Free Cash Flow irrespective of the recently announced McGrath acquisition.
- Organic and inorganic investments are extending that horizon appreciably.
Challenges Ahead
- Guidance is subject to risks and uncertainties.
- Rising costs and inflationary pressures adversely affecting profitability.
- General economic and market conditions impacting demand for products and services.
- Potential litigation involving the Company.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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