WillScot (NASDAQ:WSC) Posts Earnings Results, Beats Expectations By $0.01 EPS

WillScot (NASDAQ:WSC) issued its quarterly earnings results on Thursday. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01, FiscalAI reports. The firm had revenue of $601.34 million during the quarter, compared to analyst estimates of $586.11 million. WillScot had a positive return on equity of 21.62% and a negative net margin of 3.00%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS.

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

• Q3 revenue rose 6% year over year to $601 million, ahead of expectations, and adjusted EBITDA of $234 million also exceeded the company’s outlook. WillScot raised its 2026 revenue forecast to $2.34 billion while maintaining adjusted EBITDA guidance at $920 million.
• Modular activity is improving: units on rent grew 1.2% year over year, activations rose 12%, and the modular pending order book was up more than 20%. Management sees a volume tailwind entering 2027 and expects low-single-digit organic revenue growth and mid-single-digit organic EBITDA growth, while noting uncertainty around future data center project starts.
• Near-term margins remain pressured by upfront activation, transfer, logistics, and delivery-and-installation costs, so stronger activity is not immediately flowing through to EBITDA. Portable storage leasing revenue fell 7% year over year, and management expects storage volumes to remain down.
• The company invested $123 million in net capital expenditures during Q3, with more than 90% of incremental fleet already rented or assigned to customer orders. Despite higher growth investment, WillScot repaid $57 million of debt in the quarter, ended at 3.7x leverage, and said it expects leverage to approach 3x by the end of 2027.

WillScot Trading Up 5.7%

Shares of WillScot stock opened at $18.86 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 3.80. WillScot has a 1 year low of $14.91 and a 1 year high of $29.77. The firm’s 50 day moving average is $17.97 and its 200 day moving average is $21.81. The firm has a market capitalization of $3.42 billion, a PE ratio of -55.47, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37.

WillScot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be given a $0.07 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. WillScot’s payout ratio is presently -73.68%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Oppenheimer dropped their price target on WillScot from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays increased their price target on shares of WillScot from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. UBS Group decreased their price target on shares of WillScot from $29.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 16th. Jefferies Financial Group restated a “hold” rating and issued a $20.00 price target on shares of WillScot in a research report on Friday. Finally, Bank of America restated a “buy” rating and issued a $26.00 price target on shares of WillScot in a research note on Friday. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, WillScot has a consensus rating of “Hold” and an average target price of $24.11.

Key Stories Impacting WillScot

Here are the key news stories impacting WillScot this week:

• Positive Sentiment: WillScot reported Q3 adjusted earnings of $0.29 per share, above the $0.28 consensus, and revenue of $601.3 million versus expectations of $586.1 million. Revenue grew 6.1% year over year, and the company said it exceeded its Q3 outlook for revenue and adjusted EBITDA. WillScot Reports Third Quarter 2026 Results
• Positive Sentiment: The company’s early 2027 outlook calls for adjusted EBITDA growth and deleveraging, while its updated 2026 outlook slightly exceeds expectations—supporting the view that operating performance and debt reduction are progressing. WillScot exceeds Q3 expectations and slightly exceeds full-year outlook
• Positive Sentiment: WillScot declared a quarterly dividend of $0.07 per share, payable December 16 to shareholders of record December 2. WillScot Declares Quarterly Cash Dividend
• Neutral Sentiment: Oppenheimer lowered its price target from $29 to $26 but maintained an “outperform” rating, indicating a more cautious valuation while retaining a bullish view. Tickerreport coverage of Oppenheimer’s rating update
• Negative Sentiment: Management expects only low-single-digit organic revenue growth and mid-single-digit organic EBITDA growth in 2027, with higher fleet investment. That more moderate growth profile and spending could temper optimism despite the projected EBITDA gains. WillScot signals 2027 growth outlook

WillScot Company Profile

WillScot Holdings Corporation (NASDAQ: WSC) provides flexible workspace and storage solutions primarily to customers across North America. The company offers modular buildings, mobile offices, portable classrooms, storage units and other temporary or permanent space solutions for businesses, schools, construction sites, health care organizations, government agencies and other institutions.

In addition to renting and selling modular space and portable storage products, WillScot provides related services such as delivery, installation, relocation, site improvements, furnishings and facility services.