NASDAQ$WSC
WillScot Mobile Mini Holdings Corp. · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
WillScot Mobile Mini's Q4 2020 results showed significant revenue increase and margin expansion driven by the merger and strong organic growth.
WillScot Mobile Mini Holdings reported a strong fourth quarter and full year 2020, marked by a 57.4% increase in total revenues to $437.6 million for the quarter, driven by the addition of Mobile Mini's revenues. The company also saw an 83.0% increase in adjusted EBITDA to $179.7 million and a 580 bps increase in adjusted EBITDA margin to 41.1%. Free cash flow generation significantly improved, reaching $87.4 million, a 100% increase year over year.
- Total revenues increased by 57.4% to $437.6 million due to the Mobile Mini merger.
- Adjusted EBITDA increased by 83.0% to $179.7 million, with a margin of 41.1%.
- Free cash flow doubled to $87.4 million, representing a 20% free cash flow margin.
- NA Modular segment saw a 12.9% increase in modular space monthly rental rates.
Headline financials
Revenue & EPS history
WillScot Mobile Mini · Revenue · Quarterly
$438M
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 provided its 2021 outlook, projecting revenue between $1.7 billion and $1.8 billion and Adjusted EBITDA between $675 million and $715 million.
Tailwinds
- Revenue is projected to be between $1.7 billion and $1.8 billion.
- Adjusted EBITDA is expected to be between $675 million and $715 million.
- Pro forma leverage is expected to be within the target range of 3.0x to 3.5x by the end of 2021.
- Growth initiatives are within the company's control.
- The company is on an exciting trajectory for 2022 and beyond.
Headwinds
- Guidance is subject to risks and uncertainties.
- Net CAPEX is projected to be between $180 million and $220 million.
- Unspecified risks related to acquisitions and integrations.
- Unspecified risks related to market acceptance of products.
- Unspecified risks related to rising costs.
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 Q4 2020
-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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