WillScot Reports Third Quarter 2026 Results
WillScot's Q3 2026 revenue of $601 million and Adjusted EBITDA of $234 million exceeded the company's outlook, with diluted EPS of $0.28 up from $0.24 a year ago and gross margin expanding to 50.7%. Leasing and services revenue grew 7.5% year-over-year, Enterprise Account revenue rose 15%, and modular units-on-rent inflected positive with 1.2% growth after four straight quarters of accelerating activations. The company raised its FY26 revenue outlook to ~$2.34 billion while maintaining Adjusted EBITDA guidance at $920 million, and flagged mid-single-digit Adjusted EBITDA growth for 2027 with leverage approaching 3.0x by year-end 2027.
Key figures
- Eps
- 0.28
- Revenue
- 601338000
- Guidance
- FY2026 revenue raised to ~$2,340 million; Adjusted EBITDA maintained at $920 million; Net CAPEX $400 million; 2027 Adjusted EBITDA expected to grow mid-single digits, leverage approaching 3.0x exiting 2027
- Revenue Yoy
- 6.1%
- Roic
- 14.6%
- Net debt
- 3434179000
- Net capex
- 123107000
- Net income
- 51575000
- Adjusted eps
- 0.29
- Adjusted fcf
- 78425000
- Gross margin
- 50.7%
- Adjusted ebitda
- 233551000
- Units on rent yoy
- 1.2%
- Net debt to ebitda
- 3.7
- Adjusted fcf margin
- 13.0%
- Ltm adjusted ebitda
- 922483000
- Operating cash flow
- 197974000
- Adjusted ebitda margin
- 38.8%
- Enterprise accounts revenue yoy
- 15%
- Delivery installation revenue yoy
- 22.7%
AI analysis
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