WillScot Holdings Corp

For the period ended Jun 30, 2024. Filed Aug 1, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 1, 2024

WSC$19.89-3.6%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations for the and

Condensed Consolidated Statements of Operations

	Three Months EndedJune 30,		Six Months EndedJune 30,
(in thousands, except share data)	2024	2023	2024	2023
Revenues:
Leasing and services revenue:
Leasing	$458,592	$449,320	$919,193	$889,271
Delivery and installation	108,147	112,754	208,509	219,384
Sales revenue:
New units	21,378	9,004	34,877	19,661
Rental units	16,473	11,011	29,192	19,241
Total revenues	604,590	582,089	1,191,771	1,147,557
Costs:
Costs of leasing and services:
Leasing	98,248	98,556	200,642	196,071
Delivery and installation	81,170	81,349	159,012	156,356
Costs of sales:
New units	13,358	4,795	21,631	11,003
Rental units	9,085	5,067	15,961	9,521
Depreciation of rental equipment	75,611	64,450	150,519	123,606
Gross profit	327,118	327,872	644,006	651,000
Other operating expenses:
Selling, general and administrative	174,610	146,810	342,178	297,680
Other depreciation and amortization	18,135	17,346	36,055	34,519
Impairment loss on intangible asset	132,540	—	132,540	—
Lease impairment expense and other related charges, net	(23)	—	723	22
Restructuring costs	6,206	—	6,206	—
Currency (gains) losses, net	(42)	14	35	6,789
Other expense (income), net	924	(2,838)	1,555	(6,197)
Operating (loss) income	(5,232)	166,540	124,714	318,187
Interest expense, net	55,548	47,246	112,136	92,112
(Loss) income from continuing operations before income tax	(60,780)	119,294	12,578	226,075
Income tax (benefit) expense from continuing operations	(13,929)	31,565	3,189	62,075
(Loss) income from continuing operations	(46,851)	87,729	9,389	164,000
Discontinued operations:
Income from discontinued operations before income tax	—	—	—	4,003
Gain on sale of discontinued operations	—	—	—	176,078
Income tax expense from discontinued operations	—	—	—	45,468
Income from discontinued operations	—	—	—	134,613
Net (loss) income	$(46,851)	$87,729	$9,389	$298,613
(Loss) earnings per share from continuing operations:
Basic	$(0.25)	$0.44	$0.05	$0.80
Diluted	$(0.25)	$0.43	$0.05	$0.78
Earnings per share from discontinued operations:
Basic	$—	$—	$—	$0.66
Diluted	$—	$—	$—	$0.65
(Loss) earnings per share:
Basic	$(0.25)	$0.44	$0.05	$1.46
Diluted	$(0.25)	$0.43	$0.05	$1.43
Weighted average shares:
Basic	189,680,091	200,946,619	189,908,812	204,635,764
Diluted	189,680,091	204,326,162	192,409,616	208,233,141

Condensed Consolidated Statements of Comprehensive (Loss) Income

	Three Months EndedJune 30,		Six Months EndedJune 30,
(in thousands)	2024	2023	2024	2023
Net (loss) income	$(46,851)	$87,729	$9,389	$298,613
Other comprehensive (loss) income:
Foreign currency translation adjustment, net of income tax expense of $0.	(4,154)	5,915	(9,702)	13,849
Net gain on derivatives, net of income tax expense of $535 and $4,268 for the three months ended June 30, 2024 and 2023, respectively, and $5,050 and $4,046 for the six months ended June 30, 2024 and 2023, respectively.	1,624	12,831	15,164	12,164
Total other comprehensive (loss) income	(2,530)	18,746	5,462	26,013
Total comprehensive (loss) income	$(49,381)	$106,475	$14,851	$324,626

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.