Core Insights - WillScot Holdings Corporation reported second quarter 2025 results that were broadly in line with expectations, highlighting an Adjusted EBITDA Margin of 42.3% and an Adjusted Free Cash Flow Margin of 22.1% [3][5][6] - The company narrowed its full-year 2025 outlook for revenue and Adjusted EBITDA, reflecting mixed market conditions and macroeconomic views for the second half of the year [3][5][6] Financial Performance - Revenue for Q2 2025 was $589 million, a decrease of 2.5% from $605 million in Q2 2024 [4][5] - Net income for the quarter was $47.9 million, compared to a net loss of $46.9 million in the same quarter last year [4][5] - Adjusted Net Income was $49.2 million, down from $75 million year-over-year [4][5] - Adjusted EBITDA for the quarter was $248.9 million, with a margin of 42.3%, slightly down from 43.6% in Q2 2024 [4][5][6] Cash Flow and Capital Allocation - The company generated $205 million in net cash from operating activities, up 17% year-over-year, resulting in $130 million of Adjusted Free Cash Flow [5][6] - WillScot deployed approximately $134 million towards tuck-in acquisitions and returned $53 million to shareholders through share repurchases and dividends [3][5][6] - The expected Adjusted Free Cash Flow for FY 2025 is projected to be between $500 million and $550 million [5][6] Market Outlook - Leasing revenues were $443 million, reflecting a 2.0% sequential improvement but a 3.4% decline compared to the prior year, with average monthly rates increasing by 5.2% for modular space units and 7.2% for portable storage units [5][6] - The company has narrowed its revenue outlook for FY 2025 to a range of $2.3 billion to $2.35 billion and Adjusted EBITDA to $1 billion to $1.02 billion [6][8] Capital Structure and Debt - Total debt stood at $3.7 billion, with a net debt of $3.7 billion, resulting in a Net Debt to Adjusted EBITDA ratio of 3.6x [9][34] - The company maintained approximately $1.6 billion in availability under its asset-backed revolving credit facility [9][34]

Company Overview - McGrath RentCorp's total revenue reached $911 million in 2024[10] - The company's adjusted EBITDA for 2024 was $352 million[10] - McGrath RentCorp has a shareholder return CAGR of 16% based on 1984 IPO through 12/31/24[10, 11] - The company has increased dividends for 34 consecutive years[10, 25, 118] - 99% of total revenues are from North America[10] Business Segment Performance (2024) - Mobile Modular contributed 75% of total revenues and 67% of adjusted EBITDA[13] - Portable Storage accounted for 10% of total revenues and 12% of adjusted EBITDA[13] - TRS-RenTelco represented 15% of total revenues and 21% of adjusted EBITDA[13] Q2 2025 Highlights - Total revenues for Q2 2025 were $2356 million, an increase of 11% year-over-year[33, 34] - Adjusted EBITDA for Q2 2025 was $865 million, a 3% increase year-over-year[33, 34] - Mobile Modular's total revenues increased by 8%[32] - Portable Storage rental revenues increased 5% sequentially, but decreased 5% year-over-year[32, 38] - TRS-RenTelco rental revenues increased 7%[32, 40]

Core Points - WillScot Holdings Corporation will release its second quarter 2025 financial results on July 31, 2025, after market close [1] - A conference call and webcast will be hosted by the management team on the same day at 5:30 p.m. EDT to discuss the results [1] Company Overview - WillScot is a leading provider of innovative temporary flexible space solutions in North America, listed on the Nasdaq under the ticker symbol "WSC" [3] - 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 [3] - 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 [3]

Core Insights - WillScot Holdings Corporation is a leader in innovative temporary space solutions and will participate in several investor conferences in June 2025 [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 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]. Upcoming Investor Conferences - Stifel Cross Sector Insights Conference on June 3, 2025, in Boston, Massachusetts [4]. - Baird Global Consumer, Tech & Services Conference on June 4, 2025, in New York, New York [4]. - Wells Fargo Industrials & Materials Conference on June 10, 2025, in Chicago, Illinois [4].

Core Insights - WillScot Holdings Corporation has partnered with Penske Entertainment Corp. to provide temporary space solutions for the NTT INDYCAR SERIES and Indianapolis Motor Speedway for the 2025, 2026, and 2027 seasons [1][2] Company Overview - WillScot is a leading provider of innovative and turnkey space solutions in North America, offering a comprehensive range of products including modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, and climate-controlled units [4] - The company operates from approximately 260 branch locations across the United States, Canada, and Mexico, serving diverse customer segments across various sectors of the economy [4] Partnership Details - The partnership with Penske Entertainment Corp. positions WillScot as the preferred supplier for large-scale events, emphasizing the company's commitment to delivering efficient and safe space solutions that enhance the fan experience [2][3] - Penske Entertainment Corp. owns the Indianapolis Motor Speedway and the NTT INDYCAR SERIES, which is recognized as the premier open-wheel racing series in North America [2][3]

Core Viewpoint - WillScot Holdings Corporation has declared a quarterly dividend of $0.07 per common share, which will be paid on June 18, 2025, to shareholders of record as of June 4, 2025 [1] Company Overview - WillScot is a leading provider of innovative temporary space solutions in North America, listed on the Nasdaq under the ticker symbol "WSC" [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, along with furnishings and supplementary services [2] - Headquartered in Phoenix, Arizona, WillScot operates 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]

Group 1 - McGrath RentCorp operates as a diversified rental company, focusing on renting relocatable modular buildings and portable storage containers [1] - The company has a strong track record in its sector, indicating potential for continued performance [1] Group 2 - Crude Value Insights provides an investment service centered on oil and natural gas, emphasizing cash flow and growth prospects [1] - Subscribers benefit from a stock model account, detailed cash flow analyses of exploration and production firms, and live sector discussions [2]