Filing Flows › WillScot Holdings (WSC) › Q3 2026 › vs Q3 2025
WillScot Holdings (WSC) Q3 2026 vs Q3 2025 (year over year)
WillScot Holdings's revenue rose $34.5M (+6%) from $567M in Q3 2025 to $601M in Q3 2026. The biggest changes: Leasing and Services +$39.8M (+7%); New units −$4.0M (-22%); Rental units −$1.3M (-8%). Gross margin 50.7% against 49.7% (+1.0 pts).
WillScot Holdings, Q3 2026: revenue $601M (+6% year over year), operating margin 21.0%, net earnings $51.6M, operating cash flow $198M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 50.7% | 49.7% | +1.0 pts |
| Operating margin | 21.0% | 21.0% | +0.0 pts |
| Net margin | 8.6% | 7.6% | +0.9 pts |
| Free cash flow margin | 32.0% | 33.0% | -0.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Modular space leasing revenue | $256M | $251M | $5.6M | +2% |
| Delivery and installation | $121M | $98.5M | $22.3M | +23% |
| VAPS and third party leasing revenues | $104M | $100M | $4.2M | +4% |
| Portable storage leasing revenue | $74.2M | $79.8M | −$5.6M | -7% |
| Other leasing-related revenue | $16.8M | $3.5M | $13.3M | +381% |
| Leasing and Services | $573M | $533M | $39.8M | +7% |
| Rental units | $14.4M | $15.7M | −$1.3M | -8% |
| New units | $14.4M | $18.4M | −$4.0M | -22% |
| Revenue | $601M | $567M | $34.5M | +6% |
| Gross profit | $305M | $282M | $23.2M | +8% |
| Cost of revenue | $297M | $285M | $11.3M | +4% |
| Operating profit | $126M | $119M | $7.4M | +6% |
| Operating expenses | $179M | $163M | $15.8M | +10% |
| Pre-tax earnings | $71.3M | $60.3M | $10.9M | +18% |
| Other expense, net | $55.0M | $58.5M | −$3.5M | -6% |
| SG&A | $154M | $138M | $16.7M | +12% |
| Other operating costs | $24.1M | $25.0M | −$964K | -4% |
| Net earnings | $51.6M | $43.3M | $8.2M | +19% |
| Income tax | $19.7M | $17.0M | $2.7M | +16% |
| Depreciation & amortization | $22.5M | $24.4M | −$2.0M | -8% |
| Share-based compensation | $7.5M | $10.0M | −$2.5M | -25% |
| Working capital & other | $116M | $113M | $3.0M | +3% |
| Operating cash flow | $198M | $191M | $6.8M | +4% |
| Free cash flow (OCF − capex) | $193M | $187M | $5.7M | +3% |
| Capital expenditures | $5.4M | $4.2M | $1.2M | +27% |
Questions
How much did WillScot Holdings's revenue grow year over year in Q3 2026?
WillScot Holdings's revenue rose $34.5M (+6%) from $567M in Q3 2025 to $601M in Q3 2026.
What drove WillScot Holdings's revenue change in Q3 2026?
Leasing and Services +$39.8M (+7%); New units −$4.0M (-22%); Rental units −$1.3M (-8%).