
"WSC (overview): Debt refinancing at higher rates suggests ABL lenders cut credit access. COO admits 'idle fleet' needs significant CapEx, supporting view that cash-generating capability is exhausted. Fleet neglected, cash gone, debt remains. Aging units sit idle for years. Simple explanation: cash spent on shareholder returns, leaving debt-laden fleet unable to service it."
WSC: Occam’s Razor and Boswell’s Bombshell
DF Research
March 14, 2025
Stock Idea