WillScot (NASDAQ:WSC) Issues Quarterly Earnings Results

WillScot (NASDAQ:WSC) posted its quarterly earnings results on Thursday. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03, FiscalAI reports. The firm had revenue of $612.15 million for the quarter, compared to analyst estimates of $585.43 million. WillScot had a negative net margin of 2.99% and a positive return on equity of 20.65%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share.

Here are the key takeaways from WillScot’s conference call:

• Q2 exceeded expectations: Revenue rose 4% year over year to $612 million, while adjusted EBITDA reached $228 million, above the company’s $223 million outlook. Leasing and services revenue increased 6%, with delivery and installation revenue up more than 25%.
• Large-project demand is strengthening: Modular activations increased 16% year over year, or approximately 10% excluding World Cup activity, and the modular pending order book was up 13%. Management cited improving win rates, higher-quality projects, longer durations, stronger pricing, and growing enterprise-account revenue.
• Full-year outlook was raised: WillScot now expects approximately $2.3 billion of 2026 revenue and $920 million of adjusted EBITDA, increases of $50 million and $15 million, respectively, from its prior outlook. The company expects substantial sequential margin expansion in the second half as activation costs and World Cup-related delivery activity moderate.
• Investment is rising to support future growth: Net CapEx guidance increased to approximately $375 million, focused on new units and refurbishment for projects extending into early 2027. Management emphasized attractive returns and investment flexibility, but acknowledged that higher spending will reduce near-term free cash flow and that major projects can be delayed.
• Demand remains uneven and margins are currently pressured: Transactional and smaller-project activity continues to face headwinds, while Q2 adjusted EBITDA margin fell to 37.2% due to higher leasing and transfer costs, revenue mix, sales investment, and credit-loss provisions. Excluding the World Cup, combined modular storage and value-added product leasing revenue was essentially flat year over year.

WillScot Stock Down 2.8%

NASDAQ WSC opened at $25.82 on Friday. WillScot has a twelve month low of $14.91 and a twelve month high of $29.77. The stock has a market cap of $4.67 billion, a PE ratio of -67.95, a PEG ratio of 1.58 and a beta of 1.33. The firm has a 50-day simple moving average of $26.83 and a 200 day simple moving average of $23.15. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.72 and a current ratio of 0.79.

WillScot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. WillScot’s payout ratio is presently -73.68%.

Analysts Set New Price Targets

Several brokerages have issued reports on WSC. Morgan Stanley boosted their target price on shares of WillScot from $23.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Citigroup lifted their price target on WillScot from $27.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen raised WillScot from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of WillScot in a research note on Wednesday, May 20th. Finally, Oppenheimer restated an “outperform” rating and set a $29.00 price objective on shares of WillScot in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, WillScot presently has an average rating of “Hold” and an average target price of $26.25.

Insider Buying and Selling at WillScot

In other WillScot news, Director Bradley Lee Soultz sold 4,317 shares of WillScot stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $25.92, for a total transaction of $111,896.64. Following the sale, the director owned 414,059 shares in the company, valued at $10,732,409.28. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 155,781 shares of company stock worth $4,205,113. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in WillScot by 24.6% in the first quarter. Royal Bank of Canada now owns 33,684 shares of the company’s stock valued at $936,000 after buying an additional 6,651 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of WillScot by 1.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 724,638 shares of the company’s stock valued at $20,145,000 after acquiring an additional 8,963 shares during the period. Creative Planning boosted its stake in WillScot by 6.9% during the 2nd quarter. Creative Planning now owns 15,814 shares of the company’s stock worth $433,000 after acquiring an additional 1,024 shares during the last quarter. American Century Companies Inc. grew its holdings in WillScot by 3.0% during the second quarter. American Century Companies Inc. now owns 46,781 shares of the company’s stock valued at $1,282,000 after purchasing an additional 1,374 shares during the period. Finally, Hsbc Holdings PLC increased its stake in WillScot by 48.8% in the second quarter. Hsbc Holdings PLC now owns 11,676 shares of the company’s stock valued at $320,000 after purchasing an additional 3,827 shares in the last quarter. Institutional investors and hedge funds own 95.81% of the company’s stock.

About WillScot

WillScot (NASDAQ: WSC) is a leading North American provider of modular space and portable storage solutions. The company designs, manufactures, leases and sells temporary and permanent modular buildings to serve sectors such as education, healthcare, construction, industrial and government. Its modular space offerings range from single‐unit office trailers and classrooms to complex multi‐unit configurations tailored to diverse project requirements.

In addition to modular structures, WillScot offers a broad portfolio of portable storage containers and related services, including site logistics, customization, delivery and installation.