WillScot Holdings Corp (WSC): restructuring charge — WillScot Board approves network optimization plan; $303M accelerated depreciation in Q4 2025

WillScot Holdings Corp

Plan exits ~725 acres (115 locations, 25% of leased acreage) over 4 years; abandon 51,000 rental units with $311M NBV.
Non-cash accelerated depreciation of ~$303M in Q4 2025; future cash disposal costs $40–50M through 2029.
Net cash costs ~$20M in 2026; expects actions to be accretive to profitability from 2027 onward.
Rental fleet units (30k portable storage, 21k modular space) focused on long idle, non-standard, or high repair cost units.
Plan follows 2024 field ops integration; maintains all market coverage and customer service capabilities.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

WillScot Holdings Corp announced a restructuring with charges of non-cash accelerated depreciation of approximately $303 million (after consideration of scrap proceeds of approximately $8 million) affecting branch network consisting of approximately 400 physical properties.

Type: restructuring
Charge: non-cash accelerated depreciation of approximately $303 million (after consideration of scrap proceeds of approximately $8 million)
Affected area: branch network consisting of approximately 400 physical properties

Exact text from the filing

Significant costs associated with the Network Optimization Plan include non-cash accelerated depreciation of approximately $303 million (after consideration of scrap proceeds of approximately $8 million) recorded in the fourth quarter of 2025 and unit disposal costs requiring future cash expenditures estimated to be approximately $40 million to $50 million recorded in future periods as the units are disposed through 2029.

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

WillScot Holdings Corp announced a restructuring with charges of unit disposal costs requiring future cash expenditures estimated to be approximately $40 million to $50 million affecting branch network consisting of approximately 400 physical properties.

Type: restructuring
Charge: unit disposal costs requiring future cash expenditures estimated to be approximately $40 million to $50 million
Affected area: branch network consisting of approximately 400 physical properties

Exact text from the filing

Significant costs associated with the Network Optimization Plan include non-cash accelerated depreciation of approximately $303 million (after consideration of scrap proceeds of approximately $8 million) recorded in the fourth quarter of 2025 and unit disposal costs requiring future cash expenditures estimated to be approximately $40 million to $50 million recorded in future periods as the units are disposed through 2029.

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3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

WillScot Holdings Corp filing history →

Source: SEC EDGAR

accession 0001753926-25-001926

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