WillScot Holdings Corporation

Welcome to the fourth quarter 2024 Will Scott earnings conference call. My name is Cherie and I will be your operator for today's call. At this time all participants are in a listen only mode. Later we will conduct a question and answer session. Please note that this conference is being recorded. I will now turn the call over to Charlie Woolhutter. You may begin Charlie.

All right. Thank you, Cherie. Good afternoon, everyone, and welcome to the Will Scott Fourth Quarter 2024 Earnings Call. Participants on today's call include Brad Soltz, Chief Executive Officer, Tim Boswell, President and Chief Operating Officer, and Matt Jacobson, Chief Financial Officer. Today's presentation material may be found on the Investor Relations section of the Will Scott website. I'd like to direct your attention to slide two. containing our safe harbor statements. We will be making forward-looking statements during the presentation and our Q&A session. Our business and operations are subject to a variety of risks and uncertainties, many of which are beyond our control. As a result, our actual results may differ materially from today's comments. For a more complete description of the factors that could cause actual results to differ and other possible please refer to the Safe Harbor statements in our presentation and our filings with the SEC. With that, I'll turn the call over to Brad Soltz.

Thanks, Charlie. Good afternoon, everyone, and thank you for joining us today. 2024 was a pivotal year for Will Scott, marked by strategic changes that modernized our business and positioned us for continued scalable growth as North America's largest provider of turnkey space solutions. Despite the in-market challenges we face, the durability of our business remained strong and our team delivered solid financial results. On slide 10, many of our strategic priorities over 2024 focused on our platform to position us for the next stage of growth. Earlier in the year, we merged the Mobile Mini and Will Scott field sales and operations teams for better streamlined execution. We then finalized our major systems integration and consolidated our field service and dispatch platforms and teams. In Q3, we unified our brand under Will Scott and introduced enhanced digital marketing tools for customer service and sales. Along the way, we've continued to scale the team, adding requisite expertise and experience. Tim will talk more about priorities for 2025, though we see important opportunities to further improve performance across sales, field operations, and our back office. and our team is fully aligned accordingly. As you can tell, we've been busy with a laser focus on refining our already strong operational foundation that is the backbone of our growth plans, all of which will be on full display at our upcoming Investor Day on March 7th. Turning back to slide four, a hallmark of our business is our strong capital generation profile and the wide range of opportunities this affords us to drive shareholder value. We use this first to serve customer needs with best-in-class and differentiated solutions. We then evaluate our existing portfolio for adjacent offerings that complement our core and will allow us to further expand our solution set. We have a balanced approach to new product development, developing new offerings both in-house and through acquisitions. In 2024, we solidified our cold storage and clear span structures platforms which are now ready for full commercialization as we head into 2025. We've also recently added perimeter solutions to our in-house VAPS offering, and we see all of these helping us evolve towards higher value solutions, which results in greater differentiation from our peers and adds new nodes of growth and enhances already strong return profile. In recognizing the existing strength of our capital generation, continued focus on improving profitability, Earlier this week, our board of directors initiated a quarterly cash dividend for all shareholders. We believe that a dividend simply provides an additional avenue to return capital to shareholders and demonstrates our confidence in our strategic growth outlook and the resilience of our cash flows. Before I hand it over to Tim, I'd like to pause to welcome Charlie to our team and thank Nick for four years of outstanding IR stewardship. Nick's accepted a well-deserved promotion within our finance team. As previously announced, the Board and I felt it was the appropriate time to add the COO role to better support our ongoing growth. I'm excited for you to hear from Tim and where he's focused in this new capacity.