WillScot Holdings Corporation rents adaptable workspace and storage to businesses across the United States (WSC) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and WillScot published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. WillScot reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted Diluted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• WillScot reports in thousands of dollars. Figures here are converted to millions and rounded to one decimal.
• Q4 2025 GAAP diluted loss per share of $(1.03) reflects WillScot's Network Optimization Plan, approved in December 2025, for which it recorded $301.9 million of restructuring costs in 2025, mostly accelerated depreciation on rental units abandoned with the exited real estate.

Source: WillScot Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How WillScot splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• WillScot's Leasing revenue revenue was $452 million in Q3 2026, up 4% from $434 million in Q3 2025, 75% of total revenue.
• WillScot's Delivery and installation revenue was $121 million in Q3 2026, up 23% from $98.5 million in Q3 2025, 20% of total revenue.
• WillScot's New unit sales revenue was $14.4 million in Q3 2026, down 22% from $18.4 million in Q3 2025, 2% of total revenue.
• WillScot's Rental unit sales revenue was $14.4 million in Q3 2026, down 8% from $15.7 million in Q3 2025, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

WillScot's 2026 outlook table gives revenue of $2,340 million, Adjusted EBITDA of $920 million and Net CAPEX of $400 million. These quotes are from the CFO and CEO comments in the same release.

In its Q3 2026 release, WillScot said:

“we are raising our 2026 outlook for revenue to $2.340 billion and maintaining Adjusted EBITDA at $920 million”

“Overall, our improving run-rate, organic growth investments, and margin initiatives support mid-single digit percentage growth in Adjusted EBITDA in 2027.”

“we expect leverage to be approaching 3.0x as we exit 2027”

Source: WillScot Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the WSC forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release, converted from thousands to millions.

We do not hold a confirmed date for WillScot's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

WillScot leases modular space and portable storage across North America and reports one segment. Leasing revenue was $451.7 million of its $601.3 million Q3 2026 revenue, led by modular space leasing at $256.3 million, Value-Added Products (VAPS) and third-party leasing at $104.4 million and portable storage leasing at $74.2 million. Delivery and installation added $120.9 million, and sales of new and rental units the rest. (WillScot Q3 2026 release, Nov 5, 2026)

Total revenue rose 6.1% from $566.8 million. The 10-Q attributes it to a $22.3 million, or 22.7%, rise in delivery and installation revenue from more modular activations and sitework for large complex projects, and a $17.5 million, or 4.0%, rise in leasing revenue, which came mostly from $17.6 million less in write-offs of aged receivables recorded as a reduction to revenue. Portable storage leasing revenue fell 7.0% as its average units on rent fell 6.7%. (WillScot Form 10-Q, Q3 2026, Nov 5, 2026)

WillScot says demand for smaller modular units fell with non-residential construction starts, while larger projects in power generation, data centers, pharmaceuticals, semiconductors and stadiums held up. Average modular space units on rent rose 1.2% to 90,441, a return to year-over-year growth that came earlier than WillScot expected, and revenue from Enterprise Accounts was up 15%. (WillScot Form 10-Q, Q3 2026, Nov 5, 2026; WillScot Q3 2026 release, Nov 5, 2026)

WillScot's revenue is almost all domestic: $564.1 million came from the US, $30.5 million from Canada and $6.7 million from Mexico in the quarter. (WillScot Form 10-Q, Q3 2026, Nov 5, 2026)

WillScot's GAAP diluted EPS was $0.28 and its Adjusted Diluted EPS was $0.29. The gap is small this quarter: $1.4 million of restructuring and lease impairment charges, $0.8 million of other items, less estimated tax. A year earlier the gap was larger ($0.24 GAAP against $0.30 adjusted) because of $7.3 million of depreciation tied to real estate exits. (WillScot Q3 2026 release, Nov 5, 2026)

Net income rose 19.0% to $51.6 million, helped by lower depreciation and amortization ($97.6 million, from $108.1 million) and lower interest expense ($53.2 million, from $58.5 million). Adjusted EBITDA fell to $233.6 million from $243.3 million, and the Adjusted EBITDA margin fell to 38.8% from 42.9%, which WillScot linked to a higher mix of delivery, installation and activation work. (WillScot Form 10-Q, Q3 2026, Nov 5, 2026; WillScot Q3 2026 release, Nov 5, 2026)

Weighted average diluted shares were 181,766,601, against 182,772,186 a year earlier. WillScot applies an estimated statutory tax rate of about 27% to its adjustments and paid a quarterly dividend of $0.07 per share. (WillScot Q3 2026 release, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

WillScot gives a full-year outlook in its release. It raised 2026 revenue guidance to $2,340 million and Net CAPEX to $400 million, and kept Adjusted EBITDA at $920 million, saying it expects variable costs to stay elevated to support demand in the fourth quarter and into 2027. (WillScot Q3 2026 release, Nov 5, 2026)

For 2027, WillScot's CEO said the business supports mid-single digit percentage growth in Adjusted EBITDA, and named the pace of data center build-outs as a risk. The CFO said leverage, 3.7x Net Debt to Adjusted EBITDA at September 30, 2026, should be approaching 3.0x by the end of 2027. (WillScot Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover WillScot, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones WillScot's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning WSC is on is WSC a buy or a sell?, what analysts expect next is on the WSC forecast, and what the company does is on the WillScot Holdings Corporation rents adaptable workspace and storage to businesses across the United States (WSC) stock page.

Every number on this page can be traced to a document WillScot published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.