NASDAQ$WSC
WillScot Mobile Mini Holdings Corp. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
WillScot Mobile Mini's Q3 2023 earnings reflected increased revenue and Adjusted EBITDA, driven by pricing and Value-Added Products (VAPS) penetration.
WillScot Mobile Mini reported a 5% increase in revenue to $605 million and an 11% increase in Adjusted EBITDA to $266 million. The company generated $148 million in Free Cash Flow, up 77% year-over-year, and invested $333 million in two acquisitions. They also returned $220 million to shareholders through share repurchases.
- Revenue increased by 5% to $605 million, and income from continuing operations increased by 17% to $92 million.
- Adjusted EBITDA Margin from continuing operations increased by 250 basis points year-over-year to 43.9%.
- Free Cash Flow surged by 77% year-over-year to $148 million, with a Free Cash Flow Margin of 24%.
- The company reinvested in acquisitions, including expanding into cold storage and clearspan structures.
Headline financials
Revenue & EPS history
WillScot Mobile Mini · Revenue · Quarterly
$605M
Revenue by segment
WillScot Mobile Mini · $605M total across 4 segments · Q3 2023
- Modular space leasing$467M+4.3%77.2%
- Delivery and installation$116M-13.0%19.1%
- Rental unit sales$12.3M-11.4%2.0%
- New unit sales$10.2M+2.6%1.7%
Forward guidance
WillScot Mobile Mini expects to generate approximately $1,058 million of Adjusted EBITDA in 2023 and has high confidence in its $1 billion of idiosyncratic growth levers, as well as incremental opportunities from recent product line additions.
Tailwinds
- Continued strength in pricing across the portfolio
- Growing Value-Added Products (VAPS) penetration
- Outstanding margin performance across all revenue streams
- Continued cost discipline
- Scaling of recent product line additions
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 Q3 2023
-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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro