Modular Segment Growth
Q: How did the education and commercial modular businesses perform?
A: Both education and commercial modular rentals were up year-over-year, with commercial up 14% and education up 6%. The overall modular rental backlog is up 24% from a year ago, indicating strong future demand. ,

Portable Storage Outlook
Q: What's the outlook for the portable storage segment?
A: The portable storage segment is experiencing softness due to reduced small commercial construction projects. However, quoting activity shows signs of a slight uptick, and management believes they could be in a trough, expecting potential positive demand drivers like possible interest rate cuts in the second half. ,

TRS Segment Trends
Q: What's happening in the TRS segment, particularly in semiconductors and 5G?
A: The TRS segment's computer and semiconductor business remains slow, reflecting industry trends. 5G activity in the field has declined and is seen as a secular slowdown. However, activity on the wired side, associated with data centers, is positive. July rental bookings have been consistently stronger, with billing rates on an upward trend, providing a positive outlook for the rest of the year. ,

Pricing Environment
Q: How is the pricing environment across segments?
A: Pricing remains healthy. In the modular segment, revenue per unit has increased due to the Mobile Modular Plus services and modest pricing increases. In the portable storage segment, the company is holding pricing and maintaining industry discipline, enhancing revenue per unit with additional services inside containers. , ,

Future Demand Indicators
Q: Are there indicators of future demand in modular and storage segments?
A: Modular quoting levels are strong, up 14% year-over-year, which usually leads to future shipments. Portable storage quoting activity is down, but the construction backlog indicator shows a slight uptick, suggesting conditions are not deteriorating significantly. The upcoming retail season in the second half is also expected to boost demand. ,

Acquisition Regulatory Update
Q: What's the status of the FTC review of the WillScot Mobile Mini acquisition?
A: The FTC review period has been extended, and the companies agreed not to close the transaction before September 27. They cannot speculate on when the FTC will complete its work. State attorney generals are also reviewing the transaction. ,

Growth Initiatives
Q: How are growth initiatives like Modular Plus and Site Related Services progressing?
A: The company is well-positioned internally to meet future demand for these services without additional hiring. Mobile Modular Plus adds recurring revenue, and Site Related Services are making good progress year-to-date, despite some variability tied to project activations.

Education Sector Demand
Q: What's the outlook for the education sector?
A: Demand in the education sector remains strong across all regions. Local bonds for education facility projects continue to pass at a high success rate, reflecting public support for investing in school infrastructure. ,

Public vs. Private Demand
Q: Is there a difference in demand between public and private sectors?
A: There is no significant difference in demand between public and private sectors. The company has activity in both, including large sales projects in the private sector currently underway.