WillScot Holdings Stock Price, News & Analysis

WillScot (Nasdaq: WSC) reported Q2 2024 results with revenue of $605 million, up 4% year-over-year. The company experienced a loss from continuing operations of $47 million, including a one-time non-cash impairment of $133 million related to brand consolidation. Adjusted EBITDA was $264 million, up 1%, with a margin of 44%. WillScot generated Free Cash Flow of $121 million with a 20% margin.

The company updated its FY 2024 Adjusted EBITDA outlook to $1,085-$1,125 million, representing 2-6% growth. WillScot expects to close its acquisition of McGrath RentCorp in Q4 2024. The operating environment was mixed, with continued demand from larger-scale projects offset by less demand from smaller commercial construction and interest rate sensitive sectors.

WillScot Holdings (Nasdaq: WSC), North America's leader in temporary space solutions, announced the consolidation of its brands, including Mobile Mini, under the unified WillScot brand. The company introduced a new tagline, 'Right From the Start', emphasizing customer service excellence and its commitment to delivering optimal space solutions.

The rebranding includes a streamlined logo and the launch of a new digital experience at www.WillScot.com. This website offers an intuitive visual journey for users to identify space solutions tailored to their needs and industries. The consolidation simplifies access to WillScot's complete offering and marks the first of several new tools enhancing the company's digital customer experience.

CEO Brad Soultz highlighted WillScot's history of innovation since 1944 and recent technological transformations. The rebranding aligns with the company's unified go-to-market strategy, allowing efficient presentation of its expanded turnkey space solutions portfolio.

WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC), a leader in innovative temporary space solutions, has announced that it will release its second quarter 2024 financial results on August 1, 2024, after market close. The company's CEO, Brad Soultz, and President and CFO, Tim Boswell, will host a conference call and webcast on the same day at 5:30 p.m. ET to discuss the results.

Participants can access the live call by phone through a registration link and are advised to dial in 15 minutes before the scheduled start time. A live webcast will also be available on the company's website, with an archived version accessible for 12 months following the call.

WillScot Mobile Mini Holdings has announced the pricing of a $500 million senior secured notes offering through its subsidiary, Williams Scotsman. The notes, carrying a 6.625% interest rate, are due in 2029 and were priced at 100% of their face value. The offering is expected to close around June 28, 2024, subject to customary conditions. The proceeds will be used to repay $493.5 million of the company's existing ABL credit facility and cover related fees and expenses. The notes are offered to qualified institutional buyers and international investors, in compliance with Rule 144A and Regulation S under the Securities Act of 1933.

WillScot Mobile Mini Holdings, a leader in temporary flexible space solutions, announced a $500 million senior secured notes offering by its subsidiary, Williams Scotsman. The notes, due 2029, will be guaranteed by WSI's domestic subsidiaries and intended to repay outstanding borrowings of approximately $493.5 million under its current ABL credit facility. The offering is aimed at institutional buyers under Rule 144A and non-U.S. persons per Regulation S. The notes won't be registered under the Securities Act and can't be sold in the U.S. without registration or an applicable exemption.

McGrath RentCorp (Nasdaq: MGRC) has scheduled a special shareholder meeting on July 11, 2024, to vote on its proposed acquisition by WillScot Mobile Mini (Nasdaq: WSC).

The virtual meeting will occur at 2:00 PM Pacific Time via webcast. Shareholders of record as of May 31, 2024, are eligible to participate. For more information on the meeting and proposals, refer to the definitive proxy statement.

WillScot Mobile Mini Holdings Corp. reported solid first quarter 2024 results, with a 4% revenue increase to $587 million and $56 million income from continuing operations. Adjusted EBITDA remained flat at $248 million, with a 40% rise in net cash provided by operating activities and free cash flow. The company maintained its FY 2024 Adjusted EBITDA outlook of $1,125 million to $1,200 million, representing 6% to 13% growth. WillScot Mobile Mini returned $595 million to shareholders through share repurchases and expects to close the McGrath RentCorp acquisition in 2024.