2020-05-01 06:04:30 WSC WillScot Mobile Mini
05/01/20 05/0106:04 05/01/2006:04 | WillScot reports Q1 EPS (3c), consensus 8cReports Q1 revenue $255.8M representing an 0.8% year over year increase, driven by growth in core leasing and services revenues of $12.2M, or 5.4%, consensus $258.49M. CEO Brad Soultz commented, "WillScot delivered another quarter of substantial Adjusted EBITDA growth with Revenue and Adjusted EBITDA for Q1 up 0.8% and 7.3% over the prior year and Adjusted EBITDA margin of 35.0%, which increased 210 bps versus 1Q19. Free cash flow increased $34.4M year over year to $7.8M in Q1, representing our fourth consecutive quarter of positive Free Cash Flow. While the COVID-19 pandemic did not impact our Q1 financial results significantly, it has introduced uncertainty into our 2020 outlook such that we've reduced and expanded our expected 2020 Adjusted EBITDA outlook range to $350M-$400M to reflect the severity and duration of any demand disruption. I'm confident we have the right team and the right playbook to respond in the short-term, while maintaining our enthusiasm and commitment to future strategic growth and our combination with Mobile Mini." |
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