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WILLSCOT ▪ MOBILE MINI HOLDINGS CORP WILLSCOT mobile mini SOLUTIONS Willscot Mobile Mini Holdings Announces Third Quarter Results and Updates 2021 Outlook November 4 , 2021 Accelerating Deliveries And Continued Rate Optimization Drive Strong Financial Performance Four Acquisitions Closed Adding To 2022 Run - Rate Share Repurchase Authorization Increased To $ 1.0 Billion Investor Day To Be Held On November 8 PHOENIX , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- WillScot Mobile Mini Holdings Corp. ( " Will Scot Mobile Mini Holdings " or the " Company " ) ( Nasdaq : WSC ) , the North American leader in innovative flexible work space and portable storage solutions , today announced third quarter 2021 results and provided an update on operations and the current market environment . The Company will host an investor day on November 8 , 2021 to provide an update on the company's strategic initiatives and growth outlook . The event will take place in New York City and begin at 1:00 p.m. EST . A live webcast of the meeting will be available . To access the webcast , go to the WillScot Mobile Mini Investor Relations site , www.willscotmobilemini.com , and click on " Events & Presentations . " A replay of the webcast and a transcript will be available after the event . WillScot Mobile Mini Holdings ' Financial Highlights Highlights of Third Quarter Results 1 • Total revenues of $ 490.6 million increased by $ 73.3 million relative to prior year , or 17.6 % , driven by increased core leasing revenues across all segments . • Modular space monthly rental rates in the NA Modular segment increased by 20.3 % year - over - year while delivery volumes increased 8.0 % year - over - year . o Storage monthly rental rates in the NA Storage segment increased by 6.9 % year - over - year while delivery volumes increased 13.3 % year - over - year . • Adjusted EBITDA of $ 190.1 million increased by $ 26.5 million , or 16.2 % year - over - year . • Adjusted EBITDA Margin of 38.8 % increased by 70 basis points ( " bps " ) sequentially relative to the second quarter , driven by accelerating lease revenues and sustained increases in delivery volumes in all segments . • Net income of $ 61.1 million increased by $ 67.2 million year - over - year and included $ 11.1 million of integration , transaction , restructuring and other related charges . • Generated $ 78.5 million of free cash flow , representing a free cash flow margin of 16 % . • Repurchased $ 106.3 million of common stock and warrants . • Invested $ 56.3 million in and fully integrated three acquisitions in the third quarter and closed a fourth acquisition in October . • Maintained leverage at 3.7x our last - twelve - months Adjusted EBITDA of $ 708.9 million and have the ability to rapidly de - lever . • Announced new share repurchase authorization of $ 1.0 billion to replace previous $ 500 million authorization . Refer to the Supplemental Pro Forma Financial Information section on Form 10 - Q to be filed with the SEC and made available on the WillScot Mobile Mini Holdings Corp. investor relations website for full reconciliations of our reported and pro forma results . Three Months Ended September 30 , Nine Months Ended September 30 , ( in thousands ) Revenue $ 2021 490,552 $ Consolidated net income ( loss ) $ 61,103 $ Adjusted EBITDA1 $ 190,149 $ Net cash provided by operating activities $ 130,447 $ 2020 417,315 $ ( 6,051 ) $ 163,559 $ 61,368 $ 2021 1,376,977 $ 85,921 $ 529,229 $ 392,055 $ 2020 929,998 71,474 350,623 175,095