The guidance raise signals improving large-project demand, but YoY declines in core leasing revenue and profitability warrant caution. Monitor Q2 2026 for leasing revenue inflection and continued order book strength; the stock may trade on the improved outlook near-term.
Price Chart
Executive Summary
WillScot reported Q1 2026 results that beat consensus on both adjusted EPS ($0.21 vs $0.16) and revenue ($549M vs $518M), while raising its full-year 2026 guidance for revenue to $2.25B and Adjusted EBITDA to $915M. However, revenue declined ~2% YoY and GAAP EPS dropped 35%, reflecting continued headwinds in the traditional storage business, partially offset by improving large-project demand.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $548.6M beat consensus $518.2M (5.9% beat)
- Adjusted diluted EPS $0.21 beat consensus $0.16 (31.3% beat)
- Revenue declined 1.95% YoY; GAAP diluted EPS fell 35% to $0.15
- FY 2026 guidance raised: revenue from $2.175B to $2.250B, Adjusted EBITDA from $900M to $915M
- Operating cash flow $191M; adjusted free cash flow $116M
- Paid down $76M of debt; returned $20M via dividends and buybacks
- Net debt/EBITDA leverage at 3.7x
Financial Impact
Revenue beat by ~$30M (5.9%), adjusted EPS beat by $0.05 (31%), guidance raised by $75M revenue and $15M EBITDA
Risk Factors
- Revenue and earnings still declining YoY despite beat
- High leverage (3.7x Net Debt/EBITDA) limits financial flexibility
- Dependence on non-residential construction cycle and mega-project timing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001647088-26-000029 |
| Document: wsc-20260507.htm | 0001647088-26-000029 |
| Document: 0001647088-26-000029-index-headers.html | 0001647088-26-000029 |
| Document: 0001647088-26-000029-index.html | 0001647088-26-000029 |
| Document: 0001647088-26-000029.txt | 0001647088-26-000029 |
| 8-K Data (Synthetic) | 0001647088-26-000029 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Press Release | $16.49 | awaiting T+60 | — | $16.47 (−0.12%) |
Oct 9, 2026 17d ago | 3 | $17.42 | awaiting T+60 | — | $16.47 (−5.45%) |
Oct 7, 2026 19d ago | 8-K | $16.88 | awaiting T+60 | — | $16.47 (−2.43%) |
Jun 8, 2026 20w ago | 8-K | $27.53 $19.58 | ▼ −28.88% | ▼ −32.69% | $16.47 (−40.17%) |
May 7, 2026 24w ago | 8-K | $28.10 $26.66 | ▼ −5.12% | ▼ −9.96% | $16.47 (−41.39%) |
Apr 23, 2026 26w ago | Press Release | $22.49 $26.09 | ▲ +16.01% | ▲ +10.99% | $16.47 (−26.77%) |
Feb 28, 2026 34w ago | Institutional Cluster | $21.70 $25.77 | ▲ +18.77% | ▲ +9.44% | $16.47 (−24.09%) |
US Market Status
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