WillScot Q4 Revenue Beats Estimates, EPS Misses as EBITDA Guidance Lags
WillScot Mobile Mini’s Q4 CY2025 revenue was $566 million, down 6.1% year on year but 3.8% above analyst forecasts, with adjusted EBITDA of $250 million (44.2% margin). Adjusted EPS of $0.29 missed estimates by 11%, and 2026 EBITDA guidance of $900 million at midpoint trailed analysts’ $928 million consensus.
1. Q4 CY2025 Results
WillScot Mobile Mini reported Q4 CY2025 revenue of $566 million, representing a 6.1% year-on-year decline but exceeding analyst forecasts by 3.8%. Adjusted EPS was $0.29, an 11% shortfall to estimates, and adjusted EBITDA reached $250 million (44.2% margin), in line with projections.
2. 2026 Guidance
Full-year 2026 guidance includes midpoint revenue of $2.18 billion, slightly below forecasts, and EBITDA guidance of $900 million at midpoint, trailing analyst estimates of $928 million. The company’s full-year revenue outlook at the midpoint is 1.5% below forecasts.
3. Profitability and Cash Flow
Operating margin contracted sharply to negative 32.5% from 28.9% a year earlier, reflecting rising operating costs despite consistent gross margins. Free cash flow margin dipped to 16.2% from 22.7% in the prior-year quarter, driven by lower profitability.
4. Demand Trends and Outlook
CEO highlighted a 3% year-on-year increase in modular activations and a more than 10% rise in pending orders since January. Enterprise Accounts are expected to deliver high single-digit revenue growth, supported by improved staffing and system enhancements.