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WillScot Mobile Mini (WSC) Acquires Modulease, Stock Up
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WillScot Mobile Mini Holdings Corp. (WSC - Free Report) acquired the rental fleet and related assets of Modulease Corporation, a modular space and portable storage provider in Northeastern US.
The terms of the transaction has been kept under wraps. However, the company disclosed that this deal was funded with cash on hand and borrowings under its revolving credit agreement.
This Modulease buyout adds more than 400 mobile offices and approximately 100 portable storage containers to WillScot Mobile Mini’s New England portfolio.
Shares of this North American leader in innovative flexible work space and portable storage solutions rose 1.8% during the trading session on Jul 13, 2022.
Acquisition: Key Growth Driver
WillScot Mobile Mini has been acquiring assets to expand its portfolio and complement its business. During first-quarter 2022, the company acquired certain assets and liabilities, which consisted primarily of 400 blast-resistant modular units.
Recently, on May 16, it announced the acquisition of Elite Modular Leasing and Sales, Inc., which adds 900 modular units to the company’s existing operations throughout California. On May 9, it announced the acquisition of rental fleet and related assets from Georgia Storage Containers, Inc., thereby adding more than 1,000 storage units to the company’s existing operation in the greater Atlanta market. Meanwhile, on Apr 27, the company acquired the rental fleet and related assets from Decatur Container Sales and Rentals. This buyout added more than 1,900 storage units to its existing markets in Alabama, Mississippi, Georgia and Southern Tennessee.
Share Price
Image Source: Zacks Investment Research
Shares of WillScot Mobile Mini have risen 16.9% over the past year, against the Zacks Furniture industry’s 20.6% decline. Record order backlog and broad-based end market strength are expected to aid the company to drive growth through 2022 and 2023. Despite macroeconomic uncertainties, it expects robust demand to continue into 2023 given order backlog, prospects for infrastructure investment, net positive inflationary environment and own national account conversations. It continues to supplement its organic momentum with smart, disciplined acquisitions. This has helped the company to lift its outlook for 2022, which depicts further acceleration to run-rate heading into 2023.
Primoris Services Corp. (PRIM - Free Report) , currently carrying a Zacks Rank #2, provides a wide range of construction, fabrication, maintenance, replacement and engineering services.
PRIM’s 2022 earnings are likely to rise 19.4%. The company’s earnings estimates have increased to $2.59 from $2.49 per share over the past 60 days.
Dycom Industries, Inc. (DY - Free Report) , currently carrying a Zacks Rank #2, is benefiting from higher demand for network bandwidth and mobile broadband, extended geography, proficient program management and network planning services. Persistent impacts of a large customer program complexity, lower year-over-year revenues related to other large customers and higher fuel costs are concerns.
The prospects of the Telecommunication business look good, given increased customers’ need to expand capacity and improve the performance of the existing networks, and in certain instances, deploy new networks. Dycom expects considerable opportunities across a broad array of customers.
Dycom’s, earnings for fiscal 2023 are expected to grow 116.5%.
Toll Brothers Inc. (TOL - Free Report) , currently carrying a Zacks Rank #2, mostly offers luxury homes and its communities are located in prosperous suburban areas with easy access to major cities.
TOL’s expected earnings growth rate for fiscal 2022 is 53.7%. The consensus mark for its fiscal 2022 earnings has moved up to $10.19 per share from $9.87 in the past 60 days.
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WillScot Mobile Mini (WSC) Acquires Modulease, Stock Up
WillScot Mobile Mini Holdings Corp. (WSC - Free Report) acquired the rental fleet and related assets of Modulease Corporation, a modular space and portable storage provider in Northeastern US.
The terms of the transaction has been kept under wraps. However, the company disclosed that this deal was funded with cash on hand and borrowings under its revolving credit agreement.
This Modulease buyout adds more than 400 mobile offices and approximately 100 portable storage containers to WillScot Mobile Mini’s New England portfolio.
Shares of this North American leader in innovative flexible work space and portable storage solutions rose 1.8% during the trading session on Jul 13, 2022.
Acquisition: Key Growth Driver
WillScot Mobile Mini has been acquiring assets to expand its portfolio and complement its business. During first-quarter 2022, the company acquired certain assets and liabilities, which consisted primarily of 400 blast-resistant modular units.
Recently, on May 16, it announced the acquisition of Elite Modular Leasing and Sales, Inc., which adds 900 modular units to the company’s existing operations throughout California. On May 9, it announced the acquisition of rental fleet and related assets from Georgia Storage Containers, Inc., thereby adding more than 1,000 storage units to the company’s existing operation in the greater Atlanta market. Meanwhile, on Apr 27, the company acquired the rental fleet and related assets from Decatur Container Sales and Rentals. This buyout added more than 1,900 storage units to its existing markets in Alabama, Mississippi, Georgia and Southern Tennessee.
Share Price
Image Source: Zacks Investment Research
Shares of WillScot Mobile Mini have risen 16.9% over the past year, against the Zacks Furniture industry’s 20.6% decline. Record order backlog and broad-based end market strength are expected to aid the company to drive growth through 2022 and 2023. Despite macroeconomic uncertainties, it expects robust demand to continue into 2023 given order backlog, prospects for infrastructure investment, net positive inflationary environment and own national account conversations. It continues to supplement its organic momentum with smart, disciplined acquisitions. This has helped the company to lift its outlook for 2022, which depicts further acceleration to run-rate heading into 2023.
Zacks Rank
WillScot Mobile Mini currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Better-Ranked Stocks to Consider
Primoris Services Corp. (PRIM - Free Report) , currently carrying a Zacks Rank #2, provides a wide range of construction, fabrication, maintenance, replacement and engineering services.
PRIM’s 2022 earnings are likely to rise 19.4%. The company’s earnings estimates have increased to $2.59 from $2.49 per share over the past 60 days.
Dycom Industries, Inc. (DY - Free Report) , currently carrying a Zacks Rank #2, is benefiting from higher demand for network bandwidth and mobile broadband, extended geography, proficient program management and network planning services. Persistent impacts of a large customer program complexity, lower year-over-year revenues related to other large customers and higher fuel costs are concerns.
The prospects of the Telecommunication business look good, given increased customers’ need to expand capacity and improve the performance of the existing networks, and in certain instances, deploy new networks. Dycom expects considerable opportunities across a broad array of customers.
Dycom’s, earnings for fiscal 2023 are expected to grow 116.5%.
Toll Brothers Inc. (TOL - Free Report) , currently carrying a Zacks Rank #2, mostly offers luxury homes and its communities are located in prosperous suburban areas with easy access to major cities.
TOL’s expected earnings growth rate for fiscal 2022 is 53.7%. The consensus mark for its fiscal 2022 earnings has moved up to $10.19 per share from $9.87 in the past 60 days.