Willscot Mobile Mini Holdings Corp. (NASDAQ:WSC) Q1 2022 Earnings Conference Call April 28, 2022 10:00 AM ET
Company Participants
Nick Girardi - Director, Treasury & IR
Bradley Soultz - CEO & Director
Timothy Boswell - President & CFO
Conference Call Participants
Manav Patnaik - Barclays
Scott Schneeberger - Oppenheimer
Kevin McVeigh - Credit Suisse
Stanley Elliott - Stifel
Steven Ramsey - Thompson Research Group
Phil Ng - Jefferies
Andrew Wittmann - Baird
Courtney Yakavonis - Morgan Stanley
Brent Thielman - D.A. Davidson
Operator
Welcome to the First Quarter 2022 WillScot Mobile Mini Earnings Conference Call. My name is Vanessa, and I will be your operator for today. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session. Please note that this conference is being recorded. I will now turn the call over to Nick Girardi, Senior Director of Treasury and Investor Relations. Nick, you may begin.
Nick Girardi
Good morning and welcome to the WillScot Mobile Mini First Quarter 2022 Earnings Call. Participants on today's call include Brad Soultz, Chief Executive Officer; and Tim Boswell, President and Chief Financial Officer. Today's presentation material may be found on the Investor Relations section of the WillScot Mobile Mini website.
Slide two contains our Safe Harbor statement. We will be making forward-looking statements during the presentation and our Q&A session. Our business and operations are subject to a variety of risks and uncertainties, many of which are beyond our control. As a result, our actual results may differ materially from today's comments. For a more complete description of the factors that could cause actual results to differ and other possible risks, please refer to the Safe Harbor statement in our presentation and our filings with the SEC.
With that, I'll turn the call over to Brad Soultz.
Bradley Soultz
Thanks Nick. Good morning, everyone. Thank you for joining us today. I'm Brad Soultz, CEO of WillScot Mobile Mini. This quarter is an excellent example of how growth compounds across our platform. We recently laid out a portfolio of largely idiosyncratic growth levers, which collectively represent about $1 billion of top line growth.
Starting on Page 13, I'll talk through how each of these growth levers contributed to our strong performance in Q1, in which we delivered $509 million in revenue and $192 million of adjusted EBITDA, both up 20% and 17%, respectively, year-over-year.
Starting with the largest growth lever at the top, value-added products and services, or VAPS, represents approximately $0.5 billion of the $1 billion top line growth potential. We continue to deliver ever more value to our customers with our differentiated and compelling offering as we take care of a supply chain node that's an inconvenience for our customers.