1. WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)
Number of Hedge Fund Holders: 66
WillScot Mobile Mini Holdings Corp (NASDAQ:WSC), headquartered in Phoenix, Arizona, is a leading provider of temporary space solutions. The company offers a wide range of options, including modular offices, mobile classrooms, and storage units. It serves diverse markets across North America with a network exceeding 240 locations.
WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) recently reported its Q1 2024 earnings results. Revenue grew by 3.8% YoY to $587.2 million, exceeding analysts’ expectations by 1.1%. However, net income fell by 26% to $56.2 million, resulting in a lower profit margin (9.6%) compared to the previous year (14%). This decline in profitability led to an EPS of $0.30.
Despite the drop in earnings, WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) projects revenue growth of 11% annually over the next 3 years, outpacing the expected 7.9% growth for the US construction industry.
Analysts are bullish on WillScot Mobile Mini Holdings Corp. (WSC) with a “Strong Buy” consensus rating. The average price target reflects a potential upside of over 27%. This indicates strong confidence in the company’s future prospects.
Here’s what Silver Beech Capital said about WillScot Mobile Mini Holdings Corp (NASDAQ:WSC) in its Q1 2024 investor letter:
“We recently initiated a new position in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC). WillScot is the leading North American provider of portable and turnkey modular building units and storage space. WillScot’s 156k modular units and 212k portable storage units are leased to a diverse 80k+ customer base across industrial, infrastructure, education, government, and natural resources users. WillScot’s modular products are depicted in Figure 2 below.
WillScot’s products are mission-critical and possess minimal technological or obsolescence risk. On a large construction site, project managers work in modular units where they update and store site-specific documents (work orders, safety reports, etc.). WillScot also offers customers an extensive array of value-added products and services (“VAPS”). These VAPS include unit furnishings, air conditioning, solar panels, restrooms, tech hardware, and many other add-ons. WillScot’s extensive offerings help fulfill a structural shift in customer demand for flexible modular and reduced waste/lower carbon footprint solutions…” (Click here to read the full text)
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