Core Viewpoint - Bank of America (BofA) has adopted a conservative stance on WillScot Holdings Corporation (WSC), lowering its price target to $25 from $27.50 while maintaining a Buy rating, due to uneven modular demand and a lack of clear recovery in storage [1] Financial Performance - WillScot reported mixed earnings for Q3 2025, with revenues of $566.8 million, a decrease of 5.75% year-over-year, and leasing revenues of $434 million, down 4.7% from the previous year [1] - The company experienced lower Canadian and seasonal storage revenues compared to the prior year, which did not meet expectations, although its EBITDA margin improved to 42.9%, an increase of 60 basis points sequentially [1] Cash Flow and Debt Management - WillScot generated $191 million in operating cash flow at a margin of 33.7% and free cash flow of $122 million at a margin of 21.6% [2] - The company utilized $84 million to pay down outstanding debt and allocated $21 million for dividends and share repurchases, in addition to deploying $8 million for a tuck-in acquisition [2] Market Position and Investment Outlook - WillScot is recognized for its portable and modular storage services, but there is a belief that certain AI stocks may offer greater upside potential with less downside risk [3]

PresentationMatthew JacobsenChief Financial Officer Sure. Yes, we're a turnkey space provider for those that -- we'll get to this. This picture is always helpful in just explaining kind of what it is we do. So we're the largest temporary space provider in North America, providing turnkey space solutions to customers across all kinds of markets. Construction, obviously, is a big piece of that, but also in education and commercial applications, including retail and warehousing, distribution, those types of th ...

Core Insights - WillScot Holdings Corporation is a leader in innovative temporary space solutions and will participate in upcoming investor conferences [1][4] Company Overview - WillScot is listed on the Nasdaq under the ticker symbol "WSC" and is the premier provider of turnkey space solutions in North America [2] - The company offers a comprehensive range of products including modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, protective buildings, climate-controlled units, and clearspan structures [2] - WillScot operates from approximately 260 branch locations and additional drop lots across the United States, Canada, and Mexico, serving diverse customer segments across all sectors of the economy [2]

Core Viewpoint - WillScot Holdings Corporation (NASDAQ:WSC) is experiencing significant stock performance, with a recent rally attributed to positive analyst coverage and upgraded ratings [1][2]. Group 1: Stock Performance - WillScot's stock increased by 11.10 percent, closing at $17.61, marking a strong performance over two consecutive days [1]. - The investment firm Baird upgraded WillScot from "market perform" to "outperform" and raised its price target from $20 to $22 [2]. Group 2: Analyst Insights - The new price target indicates a 24.9 percent upside potential from the latest closing price [3]. - Baird suggests that the third quarter could be a pivotal moment for WillScot, highlighting its strong market position and value-added products as attractive long-term investment opportunities [3]. - WillScot is noted to provide over 25 percent internal rates of return and revenue opportunities through enhanced value-added products and services [4].

Market Overview - The stock market experienced volatility but ended positively on Friday, with the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 all gaining around 1% [2] - Daily percentage changes were: Dow +1.08% (+493 points), S&P 500 +0.98% (+64 points), and Nasdaq +0.88% (+195 points) [3] Company Highlights - **Cava (NYSE: CAVA)**: The Mediterranean fast-casual restaurant chain saw a significant stock increase of 12% on Friday. Despite earlier disappointing third-quarter results and a reduced full-year outlook for 2025, investors are becoming more optimistic about the stock's valuation. Cava's expansion strategy includes opening 17 new locations in three months, raising concerns about consumer interest in fast-casual dining [4] - **WillScot Holdings (NASDAQ: WSC)**: The mobile office and storage container company gained 11% after analysts at Baird upgraded the stock from neutral to outperform and raised the price target from $20 to $22 per share. The company has faced stagnant performance over the past five years, but analysts believe it may now have the opportunity to develop a viable strategy for growth, especially if the Federal Reserve cuts interest rates, which could benefit its customers [5] Market Sentiment - Overall market sentiment improved as investors became more confident following previous declines, with Cava and WillScot Holdings being notable gainers on Friday [6]

Madison Investments, an investment advisor, released its “Madison Small Cap Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The third quarter was difficult for the Small Cap Fund.  The small-cap index’s performance was broad-based. The Madison Small Cap Fund (class Y) was down 1.3% in the quarter, significantly underperforming the benchmarks. The underperformance was driven by stock selection and exacerbated by a very speculative market. In addition, please check the f ...

Turtle Creek Asset Management, an investment management company, has released its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The firm believes that the portfolio offered a compelling opportunity in a highly valued market environment. The net asset value of the Turtle Creek Equity Fund increased by 0.4% in the third quarter, lagging behind the S&P MidCap 400 index’s 7.7% increase and the S&P/TSX Completion index’s 16.3% gain. Turtle Creek Synthetic PE Fund increased 1.4% ...

Core Insights - WillScot Mobile Mini reported a revenue decline of 5.8% year-on-year to $566.8 million, falling short of market expectations [1][3] - The company provided a conservative revenue guidance of $545 million for the next quarter, which is 6.6% below analysts' estimates [1][4] - Non-GAAP profit per share was $0.30, exceeding analysts' consensus estimates by 3.9% [1][4] Financial Performance - Revenue for Q3 CY2025 was $566.8 million, compared to analyst estimates of $580.3 million, resulting in a 5.8% year-on-year decline and a 2.3% miss [4] - Adjusted EPS was $0.30, beating analyst estimates of $0.29 by 3.9% [4] - Adjusted EBITDA was $243.3 million, slightly below analyst estimates of $247.4 million, with a margin of 42.9% [4] - Operating margin improved to 21%, up from -5.9% in the same quarter last year [4] - Market capitalization stands at $3.33 billion [4] Management Commentary - Management attributed revenue weakness to factors such as accelerated cleanup of aged accounts receivable and lower delivery and installation revenues [3] - The CEO-designate highlighted ongoing softness in the Canadian market and slower growth in newer business lines [3] - The Executive Chairman acknowledged the company's underperformance over the last two years and emphasized a commitment to improve [3] - Future strategies include operational improvements and targeted investments in higher-value products to drive growth [3]

Core Insights - WillScot Holdings experienced a significant decline in stock price, dropping nearly 7% following an earnings report that missed analyst expectations [1][4] - The company's third-quarter revenue was approximately $567 million, down from over $601 million in the same period last year, with net income falling to $54.6 million ($0.30 per share) compared to nearly $73 million in the previous year [2][3] Financial Performance - Revenue for the third quarter was below the consensus estimate of slightly under $583 million, while non-GAAP earnings per share were also below expectations at $0.30 compared to the forecast of $0.24 [3] - The company cited one-off events, including declines in storage revenue from Canadian operations and negative seasonal factors, as contributors to the performance issues [3] Future Guidance - Management provided guidance for the fourth quarter and the entirety of 2025, projecting revenue of $2.26 billion for 2025, with adjusted EBITDA expected to be $970 million [5] - This revenue estimate for 2025 is below the average analyst forecast of over $2.31 billion, indicating potential challenges ahead [5]

Core Insights - WillScot (WSC) reported quarterly earnings of $0.30 per share, exceeding the Zacks Consensus Estimate of $0.29 per share, but down from $0.38 per share a year ago [1][2] - The company posted revenues of $566.84 million for the quarter, missing the Zacks Consensus Estimate by 2.26% and down from $601.43 million year-over-year [3] - WillScot's stock has underperformed, losing approximately 37.9% since the beginning of the year compared to a 15.6% gain in the S&P 500 [4] Earnings Performance - The earnings surprise for the recent quarter was +3.45%, while the previous quarter saw a surprise of -25% [2] - Over the last four quarters, WillScot has surpassed consensus EPS estimates two times [2] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.40 on revenues of $576.26 million, and for the current fiscal year, it is $1.22 on revenues of $2.3 billion [8] - The estimate revisions trend for WillScot was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [7] Industry Context - WillScot operates within the Zacks Real Estate - Operations industry, which is currently ranked in the top 39% of over 250 Zacks industries [9] - The performance of WillScot's stock may be influenced by the overall outlook for the industry, as the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [9]