BALTIMORE (November 8, 2018) – WillScot Corporation (WillScot or the Company) (Nasdaq: WSC) today announced its third quarter 2018 financial results. 


Third Quarter 2018 Financial Highlights:

Revenues of $218.9 million, representing a 88.4% (or $102.7 million) year over year increase, driven by growth in core leasing and services revenues of $88.4 million, or 88.4% as a result of organic growth and due to the impact of the Acton, Tyson, and ModSpace acquisitions 
Consolidated modular space average monthly rental rate increased to $561 representing a 3.7% increase year over year. Pro-forma, including results of WillScot, Acton, Tyson, and ModSpace Consolidated modular space units on rent increased 33,949 or a 81.9% year over year increase, including both organic growth and growth from recent acquisitions, and average modular space
New and rental unit sales increased 117.7% and 45.5%, respectively, also driven by acquisitions
Consolidated  net loss of $36.7 million, included $44.8 million of discrete costs expensed in the period related to the ModSpace acquisition that closed on August 15, 2018 and integration activities associated with the Acton and ModSpace acquisitions. The $44.8 million of discrete costs included $7.5 million and $6.1 million of Acton and ModSpace integration and restructuring costs, respectively, and $10.7 million and $20.5 million of transaction and financing costs, respectively, associated with the ModSpace acquisition

Adjusted EBITDA of $64.6 million from our Modular – US and Modular – Other North America segments (the Modular Segments), representing a 100.6% (or $32.4 million) year over year increase as compared to the same period in 2017 and an 54.2% increase from the second quarter of 2018. Adjusted EBITDA by Segment (in thousands) 2018 2017 2018 2017 …
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Source: US SEC
View full document: EX-991_of_8-K_for_WillScot_Corp__8-K-11-09-2018