WillScot Mobile Mini (US:WSC)2023-11-05 02:27Financial Performance - Q3 2023 Adjusted EBITDA reached $266 million, an 11% year-over-year increase[47] - The company's 2023 Adjusted EBITDA guidance is between $1,050 million and $1,065 million, representing a 19% to 20% year-over-year increase with approximately 300 bps margin expansion[47] - LTM Free Cash Flow was $533 million, resulting in a 22% Free Cash Flow Margin[47] - Leasing revenue increased by 9% year-over-year, driven by pricing and Value-Added Products (VAPS) penetration[47] Capital Allocation and Debt - $907 million was spent on share repurchases in the last twelve months, reducing the economic share count by 9.2%[47] - Leverage ratio is 3.3x, within the target range of 3.0x to 3.5x[47] - Completed a $500 million offering of senior secured notes at 7.375% due in 2031[59] Operational Metrics - Consolidated modular space unit average monthly rental rate increased 16% year-over-year to $1,089 in Q3 2023[41] - Consolidated portable storage unit average monthly rental rate increased 25% year-over-year to $246 in Q3 2023[41] - Net CAPEX from continuing operations was $43.23 million for the quarter[78] Growth Opportunities - The company has identified approximately $500 million in potential revenue growth from Value Added Products and Services (VAPS)[8, 32]