v3.25.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Rental $ 125,985 $ 121,176 $ 246,098 $ 241,508
Rental related services 37,483 34,358 71,399 63,938
Rental operations 163,468 155,534 317,497 305,446
Total revenues 235,616 212,611 431,032 400,438
Direct costs of rental operations:        
Depreciation of rental equipment 21,426 22,165 42,931 44,531
Rental related services 25,477 24,990 49,790 45,776
Other 31,519 27,920 59,171 56,930
Total direct costs of rental operations 78,422 75,075 151,892 147,237
Costs of sales 46,480 34,121 71,990 56,518
Total costs of revenues 124,902 109,196 223,882 203,755
Gross profit 110,714 103,415 207,150 196,683
Expenses:        
Selling and administrative expenses 53,543 49,003 104,412 99,467
Other income, net 0 0 0 (9,281) [1]
Income from operations 57,171 54,412 102,738 [1] 106,497 [1]
Interest expense 7,795 13,037 15,954 25,741
Foreign currency exchange (gain) loss (81) 31 (86) [1] 163 [1]
WillScot Mobile Mini transaction costs (Note 1) 0 12,367 0 21,721 [2]
Income before provision for income taxes 49,457 28,977 86,870 58,872
Provision for income taxes 13,484 8,359 22,689 15,406
Net income $ 35,973 $ 20,618 $ 64,181 $ 43,466
Earnings per share:        
Basic $ 1.46 $ 0.84 $ 2.61 $ 1.77
Diluted $ 1.46 $ 0.84 $ 2.61 $ 1.77
Shares used in per share calculation:        
Basic 24,611 24,549 24,592 24,531
Diluted 24,618 24,560 24,620 24,562
Cash dividends declared per share $ 0.485 $ 0.475 $ 0.97 $ 0.95
Sales [Member]        
Revenues        
Revenues $ 69,775 $ 54,414 $ 108,701 $ 89,483
Other [Member]        
Revenues        
Revenues $ 2,373 $ 2,663 $ 4,834 $ 5,509
[1] The Significant Segment Expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
[2] During the six months ended June 30, 2024, the Company incurred $21,721 of transaction costs attributed to the terminated merger with WillScot Mobile Mini.