WillScot Holdings Corporation reported its financial results for the second quarter of 2026, revealing total revenues of $612.2 million, a 3.9% increase from $589.1 million in the same period last year. The growth was primarily driven by a $27.4 million rise in delivery and installation revenue, attributed to increased sitework for large projects, and a $6.8 million increase in leasing revenue. However, the company experienced a decline in new unit sales, which fell by $7.0 million, or 32.5%, and rental unit sales decreased by $4.1 million, or 25.2%. Net income for the quarter was $47.0 million, a slight decrease of 2.0% compared to $47.9 million in the prior year.
In terms of operational metrics, the average modular space units on rent decreased by 450 units, or 0.5%, while the average utilization rate improved to 69.2% from 59.6% year-over-year. The company’s strategic Network Optimization Plan, initiated in December 2025, aims to exit approximately 665 acres of real estate, which has led to the disposal of around 34,000 rental units as of June 30, 2026. This initiative is expected to incur total future costs of approximately $43 million, primarily related to rental equipment disposal and relocation.
WillScot's total assets as of June 30, 2026, stood at $5.87 billion, a slight increase from $5.82 billion at the end of 2025. The company reported total liabilities of $4.95 billion, down marginally from $4.96 billion. The reduction in long-term debt was notable, decreasing to $3.46 billion from $3.56 billion. The company’s cash and cash equivalents increased to $18.2 million from $14.6 million, reflecting improved liquidity.
Looking ahead, WillScot remains focused on enhancing its operational efficiency and capitalizing on market opportunities. The company plans to continue its quarterly dividend program, having declared dividends of $0.07 per share for the first two quarters of 2026. Additionally, the company has $717.1 million remaining under its share repurchase authorization, which it intends to utilize to enhance shareholder value. The outlook remains cautiously optimistic, with management emphasizing the importance of adapting to market conditions and maintaining a flexible operational strategy.
About WillScot Holdings Corp
WillScot Holdings Corporation provides modular space and portable storage solutions for diverse markets, including construction, industrial, energy, government, and education. Its core offerings include leased modular offices, storage containers, and related value-added products, supported by extensive logistics, technology, and service capabilities. The company emphasizes flexible, cost-effective, and quick-to-deploy solutions, leveraging a broad North American network to serve a wide customer base with recurring revenue streams.
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