NASDAQ$WSC
WillScot Mobile Mini Holdings Corp. · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
WillScot Mobile Mini's second quarter performance in 2021 was driven by strong growth across all segments and successful ERP cutover.
WillScot Mobile Mini Holdings reported excellent second-quarter results, with revenue increasing by 79.5% year-over-year to $461.1 million and adjusted EBITDA increasing by 80.0% to $175.5 million. The company successfully completed the migration of the legacy WillScot business onto Mobile Mini's SAP platform and updated its 2021 outlook.
- Total revenues increased by 79.5% year-over-year to $461.1 million.
- Adjusted EBITDA increased by 80.0% year-over-year to $175.5 million.
- Modular space monthly rental rates in the NA Modular segment increased by 19.7% year-over-year.
- Generated $82.1 million of free cash flow, an increase of $43.1 million relative to prior year.
Headline financials
Revenue & EPS history
WillScot Mobile Mini · Revenue · Quarterly
$461M
Revenue by segment
WillScot Mobile Mini · $461M total across 4 segments · Q2 2021
- Modular space leasing$343M+80.5%74.4%
- Delivery and installation$91.7M—19.9%
- Rental unit sales$15.2M—3.3%
- New unit sales$11M—2.4%
Forward guidance
The company updated its 2021 outlook, with revenue expected to be in the range of $1.800 billion to $1.850 billion and Adjusted EBITDA expected to be in the range of $710 million to $730 million.
Tailwinds
- Synergy realization will accelerate as our teams restore their focus on the portfolio of commercial and operational value creation levers that we have identified.
- Our outlook for the remainder of 2021 and our run-rate expectations for 2022 continue to improve as reflected in our updated financial guidance.
- Cash generation remains robust.
- The SAP migration complete.
- Maintaining leverage at 3.7x
Headwinds
- This guidance is subject to risks and uncertainties, including those described in Forward-Looking Statements.
- Rising costs adversely affecting our profitability
- General economic and market conditions impacting demand for our products and services
- Potential litigation involving our Company
- Our ability to maintain an effective system of internal controls
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
-0.3%
Avg return
Earnings day
-0.9%
Avg return
5 days after
-0.6%
Avg return
30 days after
43%
17 / 40 earnings
Positive
+10.4%
Q2 2020
Best reaction
-15.4%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.2% | +11.2% | +12.5% | |
| Q4 2025 | +3.0% | -1.1% | -23.0% | |
| Q3 2025 | -1.4% | -5.6% | -10.9% | |
| Q1 2025 | +6.5% | +3.4% | +5.2% | |
| Q4 2024 | -8.8% | -12.1% | -23.1% | |
| Q3 2024 | -15.4% | -5.9% | -2.4% | |
| Q2 2024 | -13.4% | -15.4% | -6.0% | |
| Q1 2024 | +2.0% | +7.0% | +7.7% | |
| Q4 2023 | -2.9% | -3.7% | -6.9% | |
| Q3 2023 | -10.0% | -9.7% | +8.0% | |
| Q2 2023 | -12.1% | -11.8% | -15.1% | |
| Q1 2023 | +4.7% | +4.8% | +3.8% | |
| Q4 2022 | -5.1% | -3.1% | -13.0% | |
| Q3 2022 | +5.2% | +6.9% | +12.6% | |
| Q2 2022 | +5.9% | +7.0% | +3.8% | |
| Q1 2022 | +2.2% | -0.3% | +3.9% | |
| Q4 2021 | +4.0% | -4.1% | +10.5% | |
| Q3 2021 | +4.1% | +8.7% | +13.4% | |
| Q2 2021 | +1.2% | -0.7% | +3.7% | |
| Q1 2021 | -2.7% | -5.2% | -3.6% | |
| Q4 2020 | +0.4% | -1.5% | -0.9% | |
| Q3 2020 | +9.5% | +14.3% | +17.0% | |
| Q2 2020 | +10.4% | +10.7% | +7.8% | |
| Q1 2020 | -5.7% | -7.5% | +14.5% | |
| Q4 2019 | -5.9% | -16.5% | -45.3% | |
| Q3 2019 | -0.2% | +1.3% | +8.4% | |
| Q2 2019 | -2.9% | -11.7% | -12.4% | |
| Q1 2019 | +6.5% | +1.5% | +0.1% | |
| Q4 2018 | +7.0% | +5.3% | +14.7% | |
| Q3 2018 | +6.4% | +1.2% | -21.5% | |
| Q2 2018 | -2.7% | -1.5% | +4.9% | |
| Q1 2018 | -1.2% | -0.8% | -5.9% | |
| Q2 2017 | -1.5% | -1.1% | -1.1% | |
| Q3 2017 | +0.0% | -1.0% | +14.4% | |
| Q1 2017 | +0.0% | +0.5% | +0.2% | |
| Q2 2016 | +0.0% | +0.5% | +0.5% | |
| Q4 2016 | +0.0% | +0.5% | +0.5% | |
| Q3 2016 | -0.5% | +0.0% | +0.0% | |
| Q4 2015 | +0.0% | — | — | |
| Q3 2015 | -0.3% | — | — |
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