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WillScot Holdings Reports Decline in EBITDA and Rental Fleet Write-Offs
WillScot Holdings has announced a 13% year-over-year decline in EBITDA, alongside a similar 13% decrease in units on rent. The company also reported that it has written off approximately 15% of its rental fleet, indicating significant challenges in its financial and operational performance.
These impairments to the rental fleet, coupled with increasing leverage and heightened competition from industry rival United Rentals, suggest that WillScot is facing growing pressure on its core rental economics. The recent developments raise concerns about the company's future operational flexibility and overall market position.
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Source: KLEA News