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WillScot announces FY19 outlook; shares up ~8%

Published 01/09/2019, 10:25 AM
© Reuters.  WillScot announces FY19 outlook; shares up ~8%
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  • WillScot (WSC +7.9%) announces FY19 guidance and expects adjusted EBITDA growth to exceed 60% compared to 2018 and adjusted EBITDA run-rate of ~$400M
  • Forecasts total revenue of ~$1.05B-$1.15B; adjusted EBITDA to be between $345M-$365M, with margin expansion of over 350 bps to 32.3% at the midpoint of the 2019 guidance range.
  • Capex of around $130M-$160M, with investments primarily towards refurbishment of existing fleet assets and the expansion of Ready to Work value proposition
  • Anticipates net debt to Adjusted EBITDA of ~4x by the end of Q2 2020.
  • Now read: More on Greenbrier Q1 results; share rise in pre-market


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