Temporary space provider WillScot (NASDAQ: WSC) will be reporting earnings this Thursday after market hours. Here’s what you need to know.
WillScot Mobile Mini beat analysts’ revenue expectations last quarter, reporting revenues of $566 million, down 6.1% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts’ expectations significantly and a significant miss of analysts’ EPS estimates.
Is WillScot Mobile Mini a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting WillScot Mobile Mini’s revenue to decline 7.7% year on year, a further deceleration from the 4.7% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. WillScot Mobile Mini has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at WillScot Mobile Mini’s peers in the construction and maintenance services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Comfort Systems delivered year-on-year revenue growth of 56.5%, beating analysts’ expectations by 19.5%, and Granite Construction reported revenues up 30.4%, topping estimates by 18%. Comfort Systems traded down 2.7% following the results while Granite Construction was up 13.8%.
Read our full analysis of Comfort Systems’s results here and Granite Construction’s results here.
There has been positive sentiment among investors in the construction and maintenance services segment, with share prices up 9.9% on average over the last month. WillScot Mobile Mini is up 26% during the same time and is heading into earnings with an average analyst price target of $23.45 (compared to the current share price of $22.77).
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