Research Reports

Key takeaways

Gross profit decreased 4.9% to $285.7M, with gross margin of 52.1%, pressured by higher costs and accounts receivable write-offs.

Operating income fell 19.1% to $96.7M, reflecting lower gross profit and increased operating expenses.

Net income declined 34.7% to $28.1M, with diluted EPS of $0.15, impacted by lower operating income and higher interest expense.

Free cash flow remained strong at $187.4M, supported by disciplined capital expenditures of $3.6M.

Full analysis

Revenue Decline Driven by Leasing and New Sales Weakness

Margin Pressure from Cost Increases and Write-Offs

Operating Income and Net Income Impacted by Restructuring

Operating income declined 19.1% to $96.7 million, reflecting lower gross profit and higher operating expenses. Net income fell 34.7% to $28.1 million, with diluted earnings per share of $0.15, compared to $0.23 in the prior year. The decrease was primarily due to lower operating income and increased interest expense.

WSC · WillScot Holdings Corporation

Summary

Key takeaways

Full analysis

Revenue Decline Driven by Leasing and New Sales Weakness

Margin Pressure from Cost Increases and Write-Offs

Operating Income and Net Income Impacted by Restructuring

Strong Cash Flow and Disciplined Capital Allocation

Liquidity and Outlook