WillScot Holdings Corporation - WSC STOCK NEWS

WillScot Holdings Corp. (Nasdaq: WSC), a leader in flexible space solutions, has announced it will host an investor day event on March 7, 2025, in Phoenix, Arizona. The event will commence at 9:00 a.m. MST, with invitations to be distributed to investors at a later date. Additionally, the company has reaffirmed its previously stated Fiscal Year 2024 guidance, maintaining its financial outlook.

WillScot (Nasdaq: WSC) announced key executive leadership changes effective January 1st, 2025. Tim Boswell, current President and CFO, will transition to the newly created role of Chief Operating Officer, overseeing long-term strategic initiatives and execution across WillScot's portfolio. Matt Jacobsen, Senior Vice President of Finance, has been promoted to Chief Financial Officer.

The transitions follow a twelve-month comprehensive evaluation of strategy and leadership structure with the Board and external advisors. CEO Brad Soultz emphasized these changes aim to better position the company for scaling and growth while delivering value for stakeholders. Jacobsen's promotion comes after a thorough search process that included both internal and external candidates, highlighting his 14-year tenure with WillScot and expertise in reporting, data analytics, capital markets, M&A, and systems integration.

WillScot Holdings (Nasdaq: WSC), a leading provider of temporary flexible space solutions, has announced its participation in the upcoming Oppenheimer Midwest Virtual Summit scheduled for December 11, 2024. The company has invited interested portfolio managers and analysts to arrange meetings through their Oppenheimer sales representatives.

WillScot Holdings (Nasdaq: WSC), a leading provider of temporary flexible space solutions, has announced its participation in the upcoming Baird Global Industrial Conference. The event is scheduled for November 12, 2024, in Chicago, IL. Interested portfolio managers and analysts seeking meetings are advised to contact their sales representatives at Baird.

WillScot (WSC) reported Q3 2024 results with revenue of $601 million and Adjusted EBITDA of $267 million, up 1% year-over-year. The company posted a loss from continuing operations of $70 million, including a $180 million McGrath RentCorp merger termination fee. Adjusted EBITDA Margin expanded to 44.4%, up 50 basis points year-over-year. The company generated Adjusted Free Cash Flow of $143 million at a 24% margin and maintained leverage at 3.4x. WillScot updated its FY 2024 Adjusted EBITDA outlook to $1,050-1,070 million, citing headwinds in non-residential construction affecting top-line revenue.

WillScot Holdings (Nasdaq: WSC) has announced the appointment of Worthing Jackman to its Board of Directors, effective October 22, 2024. This appointment is part of the company's ongoing board refreshment efforts, aimed at enhancing and diversifying skills, expertise, and knowledge. Mr. Jackman, described as a seasoned leader with a proven track record of long-term growth and shareholder value creation, brings extensive operational expertise and capital markets leadership to the board.

Erik Olsson, Chairman of WillScot, and Brad Soultz, CEO, both expressed their enthusiasm for Mr. Jackman's appointment, highlighting his diversified leadership experience and expertise in strategy, finance, and organizational development within the industrial services sector. Mr. Jackman will serve as a member of the Audit Committee, further supporting WillScot's efforts to drive profitable growth and enhance stakeholder value.

WillScot Holdings (Nasdaq: WSC), a leader in innovative temporary flexible space solutions, has announced that it will release its third quarter 2024 financial results on October 30, 2024, after market close. The company will host a conference call and webcast on the same day at 5:30 p.m. ET to discuss the results.

CEO Brad Soultz and President and CFO Tim Boswell will lead the call. Participants can access the live call by phone through a registration link provided in the press release. To avoid delays, it is recommended to dial in 15 minutes before the scheduled start time. A live webcast will also be available through the company's website, with an archived version accessible for 12 months following the call.

McGrath RentCorp (Nasdaq: MGRC) has confirmed the termination of its pending merger with WillScot Holdings (Nasdaq: WSC). As per the agreement, McGrath will receive a $180 million termination fee from WillScot. The company's Board has increased the share repurchase authorization to 2 million shares. McGrath plans to provide updates on its financial outlook, business strategy, and capital allocation during its third-quarter earnings conference call on October 24, 2024.

CEO Joseph Hanna emphasized the company's commitment to growth through customer-first approach and executing their standalone strategy. McGrath will continue to focus on modular and portable storage growth opportunities, including expanded service offerings like Mobile Modular Plus, Site Related Services, and new modular equipment sales. The company aims to increase its customer base and geographic coverage while maintaining its 33-year track record of consecutive dividend increases.

WillScot Holdings (Nasdaq: WSC) and McGrath RentCorp (Nasdaq: MGRC) have mutually agreed to terminate their previously announced merger due to regulatory challenges. Despite efforts to meet FTC requirements, the path to clearance was deemed excessively onerous. WillScot remains confident in its strategy, focusing on $1 billion of prospective Adjusted EBITDA growth potential through operational initiatives and product innovation.

In response, WillScot's Board of Directors has increased the share repurchase program to $1 billion. The company plans to deploy this authorization thoughtfully while funding organic investments and pursuing tuck-in acquisitions. WillScot's CEO, Brad Soultz, emphasized the company's strong position as a leading provider of temporary space solutions and its commitment to delivering sustainable growth and returns.