WillScot Holdings Corp
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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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.
Sep 30, 2024 · Filed Oct 30, 2024
WSC$19.89-3.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations for the
Condensed Consolidated Statements of Operations
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| (in thousands, except share data) | 2024 | 2023 | 2024 | 2023 |
| Revenues: | ||||
| Leasing and services revenue: | ||||
| Leasing | $455,578 | $466,769 | $1,374,771 | $1,356,040 |
| Delivery and installation | 114,765 | 115,598 | 323,274 | 334,982 |
| Sales revenue: | ||||
| New units | 17,850 | 10,155 | 52,727 | 29,816 |
| Rental units | 13,239 | 12,312 | 42,431 | 31,553 |
| Total revenues | 601,432 | 604,834 | 1,793,203 | 1,752,391 |
| Costs: | ||||
| Costs of leasing and services: | ||||
| Leasing | 96,050 | 104,331 | 296,692 | 300,402 |
| Delivery and installation | 91,775 | 82,081 | 250,787 | 238,437 |
| Costs of sales: | ||||
| New units | 9,665 | 5,096 | 31,296 | 16,099 |
| Rental units | 6,246 | 6,682 | 22,207 | 16,203 |
| Depreciation of rental equipment | 76,212 | 66,950 | 226,731 | 190,556 |
| Gross profit | 321,484 | 339,694 | 965,490 | 990,694 |
| Other operating expenses: | ||||
| Selling, general and administrative | 150,865 | 151,983 | 493,043 | 449,663 |
| Other depreciation and amortization | 23,108 | 17,852 | 59,163 | 52,371 |
| Termination fee | 180,000 | — | 180,000 | — |
| Impairment loss on intangible asset | — | — | 132,540 | — |
| Restructuring costs | 2,334 | — | 8,540 | — |
| Lease impairment expense and other related charges, net | 144 | — | 867 | 22 |
| Currency (gains) losses, net | (129) | 96 | (94) | 6,885 |
| Other expense (income), net | 380 | (8,336) | 1,935 | (14,533) |
| Operating (loss) income | (35,218) | 178,099 | 89,496 | 496,286 |
| Interest expense, net | 55,823 | 53,803 | 167,959 | 145,915 |
| (Loss) income from continuing operations before income tax | (91,041) | 124,296 | (78,463) | 350,371 |
| Income tax (benefit) expense from continuing operations | (20,566) | 32,780 | (17,377) | 94,855 |
| (Loss) income from continuing operations | (70,475) | 91,516 | (61,086) | 255,516 |
| 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 | $(70,475) | $91,516 | $(61,086) | $390,129 |
| (Loss) earnings per share from continuing operations: | ||||
| Basic | $(0.37) | $0.47 | $(0.32) | $1.27 |
| Diluted | $(0.37) | $0.46 | $(0.32) | $1.25 |
| Earnings per share from discontinued operations: | ||||
| Basic | $— | $— | $— | $0.67 |
| Diluted | $— | $— | $— | $0.66 |
| (Loss) earnings per share: | ||||
| Basic | $(0.37) | $0.47 | $(0.32) | $1.94 |
| Diluted | $(0.37) | $0.46 | $(0.32) | $1.91 |
| Weighted average shares: | ||||
| Basic | 188,281,346 | 196,198,638 | 189,362,364 | 201,042,902 |
| Diluted | 188,281,346 | 199,258,304 | 189,362,364 | 204,461,042 |
Condensed Consolidated Statements of Comprehensive (Loss) Income
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2024 | 2023 |
| Net (loss) income | $(70,475) | $91,516 | $(61,086) | $390,129 |
| Other comprehensive (loss) income: | ||||
| Foreign currency translation adjustment, net of income tax expense of $0. | 1,952 | (6,732) | (7,750) | 7,117 |
| Net (loss) gain on derivatives, net of income tax (benefit) expense of $(8,183) and $2,247 for the three months ended September 30, 2024 and 2023, respectively, and $(3,134) and $6,293 for the nine months ended September 30, 2024 and 2023, respectively. | (24,570) | 6,768 | (9,406) | 18,932 |
| Total other comprehensive (loss) income | (22,618) | 36 | (17,156) | 26,049 |
| Total comprehensive (loss) income | $(93,093) | $91,552 | $(78,242) | $416,178 |
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