End-Market ConditionsThe February ABI readout of 45.5 remains below 50, suggesting continued weakness in WillScot’s core nonresidential construction end-market.
Macroeconomic UncertaintyBroad-based uncertainty across various end-markets combined with the likelihood for a 'higher for longer' interest rate environment is expected to weigh on business investment and, in turn, WillScot’s volumes over the near term.
Market PerformanceAnalyst downgrades shares to Market Perform due to the need for greater clarity around a more sustained improvement in nonresidential construction to support project activity and demand for WillScot’s services.