WillScot Mobile Mini Holdings Corp. Files 2023 Annual Report

TL;DR

<b>WillScot Mobile Mini Holdings Corp. has submitted its annual 10-K filing for the fiscal year 2023.</b>

AI Summary

WillScot Mobile Mini Holdings Corp. (WSC) filed a Annual Report (10-K) with the SEC on February 20, 2024. WillScot Mobile Mini Holdings Corp. filed its 10-K report for the fiscal year ending December 31, 2023. The company operates in the Miscellaneous Equipment Rental & Leasing industry. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial data from previous periods (2020-2022) is referenced in the filing. The company's principal business address is in Phoenix, Arizona.

Why It Matters

For investors and stakeholders tracking WillScot Mobile Mini Holdings Corp., this filing contains several important signals. This 10-K filing provides a comprehensive overview of WillScot Mobile Mini Holdings Corp.'s financial performance, operations, and strategic positioning for the fiscal year 2023, crucial for investors assessing the company's health and future prospects. The detailed financial statements and risk factors within this report are essential for stakeholders to understand the company's revenue streams, profitability, debt levels, and potential challenges in the equipment rental and leasing market.

Risk Assessment

Risk Level: — WillScot Mobile Mini Holdings Corp. shows moderate risk based on this filing. The company operates in the equipment rental and leasing sector, which can be subject to economic downturns and competitive pressures, as indicated by the nature of its business and industry classification.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand WillScot Mobile Mini Holdings Corp.'s performance and outlook in the equipment rental market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed Period of Report)
• 2024-02-20 — Filing Date (Date Filed)
• 7350 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• WillScot Mobile Mini Holdings Corp. (company) — Filer name
• Phoenix, AZ (location) — Business and mailing address

FAQ

Risk Factors

• Market Conditions [medium — market]: The company's business is subject to fluctuations in demand for its services, influenced by economic conditions and industry trends.
• Operational Risks [medium — operational]: Risks related to the management and maintenance of a large fleet of equipment and delivery logistics.
• Debt Obligations [medium — financial]: The company has significant debt obligations that could impact its financial flexibility.

Industry Context

WillScot Mobile Mini Holdings Corp. operates in the equipment rental and leasing industry, providing essential services to various sectors including construction, industrial, and commercial markets.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (10-K) detailing financial performance and business operations.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-K to assess revenue trends, profitability, and expense management.
2. Review the risk factors section to understand potential challenges and their impact on the company's operations and financial health.
3. Compare key financial metrics with previous years and industry benchmarks to evaluate performance trajectory.

Key Dates

• 2023-12-31: Fiscal Year End — Defines the reporting period for the 10-K.
• 2024-02-20: Filing Date — Indicates when the 10-K was officially submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and operational overview of WillScot Mobile Mini Holdings Corp.)

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.0001 — ich Registered Common Stock, par value $0.0001 per share WSC The Nasdaq Capital Market
• $3.4 billion — ts representing fleet net book value of $3.4 billion and approximately 130 million square fe

Filing Documents

• wsc-20231231.htm (10-K) — 3600KB
• ex41-10k2023.htm (EX-4.1) — 22KB
• ex49-10k2023.htm (EX-4.9) — 29KB
• ex105-10k2023.htm (EX-10.5) — 56KB
• ex1018-10k2023.htm (EX-10.18) — 69KB
• ex211-10k2023.htm (EX-21.1) — 10KB
• ex231-10k2023.htm (EX-23.1) — 4KB
• ex311-q42023.htm (EX-31.1) — 8KB
• ex312-q42023.htm (EX-31.2) — 8KB
• ex321-q42023.htm (EX-32.1) — 4KB
• ex322-q42023.htm (EX-32.2) — 4KB
• ex971-clawbackpolicy.htm (EX-97.1) — 38KB
• wsc-20231231_g1.jpg (GRAPHIC) — 11KB
• wsc-20231231_g10.jpg (GRAPHIC) — 19KB
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• wsc-20231231_g2.jpg (GRAPHIC) — 109KB
• wsc-20231231_g20.jpg (GRAPHIC) — 74KB
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• wsc-20231231_g3.jpg (GRAPHIC) — 39KB
• wsc-20231231_g4.jpg (GRAPHIC) — 48KB
• wsc-20231231_g5.jpg (GRAPHIC) — 111KB
• wsc-20231231_g6.jpg (GRAPHIC) — 65KB
• wsc-20231231_g7.jpg (GRAPHIC) — 94KB
• wsc-20231231_g8.jpg (GRAPHIC) — 18KB
• wsc-20231231_g9.jpg (GRAPHIC) — 22KB
• 0001647088-24-000030.txt (&nbsp;) — 19521KB
• wsc-20231231.xsd (EX-101.SCH) — 98KB
• wsc-20231231_cal.xml (EX-101.CAL) — 163KB
• wsc-20231231_def.xml (EX-101.DEF) — 619KB
• wsc-20231231_lab.xml (EX-101.LAB) — 1196KB
• wsc-20231231_pre.xml (EX-101.PRE) — 913KB
• wsc-20231231_htm.xml (XML) — 2884KB

Risk Factors

Risk Factors Item 1B Unresolved Staff Comments Item 1C Cybersecurity Item 2

Legal Proceedings

Legal Proceedings Item 4 Mine Safety Disclosures PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Item 6 [Reserved] Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure Item 9A

Controls and Procedures

Controls and Procedures Item 9B Other Information PART III Item 10 Directors, Executive Officers and Corporate Governance Item 11

Executive Compensation

Executive Compensation Item 12

Security Ownership of Certain Beneficial Owners and Management Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management Related Stockholder Matters Item 13 Certain Relationships and Related Transactions, and Director Independence Item 14 Principal Accountant Fees and Services PART IV Item 15 Exhibit and Financial Statement Schedules

SIGNATURES

SIGNATURES 3 Cautionary Note Regarding Forward Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act. The words "estimates," "expects," "anticipates," "believes," "forecasts," "plans," "intends," "may," "will," "should," "shall," "outlook," "guidance" and variations of these words and similar expressions identify forward-looking statements, which are generally not historical in nature and relate to expectations for future financial performance or business strategies or objectives. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Although we believe that these forward-looking statements are based on reasonable assumptions, we can give no assurance that any such forward-looking statement will materialize. Important factors that may affect actual results or outcomes include, among others: impacts of various laws and regulations and recent pronouncements related to laws and regulations governing antitrust, climate-related disclosures, privacy, government contracts, anti-corruption and the environment; our ability to successfully acquire and integrate new operations; the effect of global or local economic conditions in the industries and markets in which the Company operates and any changes therein, including financial market conditions and levels of end market demand; risks associated with cybersecurity threats and IT systems disruptions, including our ability to manage the business in the event a cybersecurity incident or a disaster shuts down or materially impacts our management information systems; trade policies and changes in trade policies, including the imposition of tariff

Business

ITEM 1. Business Unless the context otherwise requires, "we," "us," "our" and the "Company" refers to WillScot Mobile Mini Holdings Corp. ("WillScot Mobile Mini") and its subsidiaries. Our Company Headquartered in Phoenix, Arizona, we are a leading business services provider specializing in innovative and flexible turnkey temporary space solutions. Our diverse product offering includes modular office complexes, mobile offices, classrooms, restroom solutions, blast-resistant modules, clearspan structures, portable storage containers, and climate-controlled storage units. We offer our customers a thoughtfully curated selection of "Ready to Work" solutions with value-added products and services, such as the rental of steps, ramps, furnishings, appliances, electrical and lighting products, space optimization assets, and other items that improve the overall customer experience. These turnkey space solutions offer customers flexible, low-cost, and timely solutions to meet their temporary space needs on an outsourced basis. With roots dating back more than 80 years, we service diverse end markets across all sectors of the economy from a network of approximately 250 branch locations and additional drop lots throughout the United States ("US"), Canada, and Mexico. We lease turnkey temporary space solutions (our "lease fleet") to customers in the construction, commercial and industrial, retail and wholesale trade, energy and natural resources, education, government, healthcare and other end markets. WillScot Mobile Mini is the holding company for the Williams Scotsman and Mobile Mini families of companies, which resulted from the merger of WillScot Corporation ("WillScot") and Mobile Mini, Inc. ("Mobile Mini") on July 1, 2020 (the "Merger"). On September 30, 2022, the Company completed the sale of its former Tank and Pump Solutions ("Tank and Pump") segment. On January 31, 2023, the Company completed the sale of its former United Kingdom Storage Solutions ("UK Storage S

View Full Filing

View this 10-K filing on SEC EDGAR