McGrath RentCorp

McGrath RentCorp engages in the provision of business-to-business rental services. It operates through the following segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex. The Mobile Modular segment operates for its modular building and portable storage. The TRS-RenTelco segment includes operations for its electronic test equipment. The Adler Tanks segment operates for its containment solutions for the storage of hazardous and non-hazardous liquids and solids. The Enviroplex segment operates for its classroom manufacturing business selling modular buildings used primarily as classrooms in California. The company was founded by Robert P. McGrath in 1979 and is headquartered in Livermore, CA.

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McGrath RentCorp reports robust Q4 growth and optimistic 2023 outlook

McGrath RentCorp's Q4 2022 performance showcased strong growth across key financial metrics and segments, setting a positive tone for 2023.
The company's strategic initiatives, financial stability, and outlook for healthy demand indicate a promising path for future expansion and success.
While challenges in maintaining growth and managing expenditures exist, McGrath's focus on operational excellence and customer value underpins its resilience.
Opportunities for growth through market expansion, new services, and customer-centric strategies position McGrath well for continued success and value creation.

McGrath RentCorp reports robust Q1 earnings and strategic growth focus

McGrath RentCorp's Q1 2023 performance reflects strong revenue and EBITDA growth, driven by success across key business segments.
Strategic acquisitions, integration efforts, and a focus on modular segment expansion underscore MGRC's commitment to sustainable growth.
While facing challenges like softening chip demand, MGRC's proactive approach and operational efficiency position it well for future opportunities.
With an enhanced full-year outlook and clear growth strategy, McGrath RentCorp is poised to navigate market dynamics and capitalize on its strengths.

McGrath RentCorp excels in Q2, eyes modular growth opportunities

McGrath RentCorp's Q2 2023 performance reflects strong growth driven by modular business and strategic investments.
Challenges in the semiconductor sector and limited retail operations are areas to monitor for future developments.
The company's focus on custom work, acquisitions, and operational efficiency positions it well for sustained success.
Overall, McGrath RentCorp's outlook remains positive with a clear path for growth and profitability.

McGrath RentCorp (MGRC) reports stellar Q3 results and optimistic outlook

McGrath RentCorp's strategic focus on Modular business paid off with significant revenue and EBITDA growth. While facing challenges in TRS-RenTelco, the company is optimistic about future demand and growth prospects. Continued integration efforts and market opportunities position MGRC for a promising outlook.

McGrath RentCorp posts strong Q4 results, announces transformative merger

McGrath RentCorp delivered strong financial results in Q4 2023, driven by robust performance in rental and sales revenue. While challenges were seen in TRS-RenTelco, opportunities for growth and synergies emerged from the successful Vesta integration and the transformative merger with WillScot Mobile Mini.

McGrath RentCorp posts strong Q1 results amidst pending merger

McGrath RentCorp delivered a strong Q1 performance driven by Mobile Modular's rental revenue growth and record backlog. Challenges include TRS-RenTelco's revenue decline and uncertainties related to the pending merger. Opportunities lie in leveraging the merger for synergies and addressing industry weaknesses.

McGrath RentCorp reports solid Q2 performance amidst pending merger

McGrath RentCorp delivered a resilient performance in Q2 2024, driven by growth in rental and sales revenues across divisions.
Despite headwinds in certain segments, the company remains focused on operational excellence and strategic initiatives for sustained growth.
Investors are optimistic about McGrath RentCorp's future, evident from shareholder approval of the merger and the company's commitment to solid execution.

McGrath RentCorp reports strong Q3 results amidst market challenges

McGrath RentCorp navigated challenges and capitalized on strengths in Q3 2024.
Focus on debt reduction, M&A strategy, and internal hiring post-merger termination.
Despite revenue declines in certain segments, positive outlook for growth in modular business.
Plans to address uncertainties in demand environment and review Q4 results for strategic insights.

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McGrath RentCorp engages in the provision of business-to-business rental services. It operates through the following segments: Mobile Modular, TRS-RenTelco, Portable Storage, and Enviroplex. The Mobile Modular segment is engaged in modular building and portable storage. The TRS-RenTelco segment includes operations for its electronic test equipment. The Portable Storage segment includes rental inventory consisting of steel containers used to provide a temporary storage solution that is delivered to the customer’s location and addresses the need for secure, temporary storage with immediate access to the unit. The Enviroplex segment involves the classroom manufacturing business selling modular buildings used primarily as classrooms in California. The company was founded by Robert P. McGrath in 1979 and is headquartered in Livermore, CA.

LIVERMORE, Calif., Oct. 01, 2020 (GLOBE NEWSWIRE) -- McGrath RentCorp (NASDAQ: MGRC) (the “Company”), a diversified business-to-business rental company, today announced plans to release financial results for its third quarter ending September 30, 2020, after the close of regular market trading on Thursday, October 29, 2020.

McGrath RentCorp Sets Third Quarter 2020 Financial Results Date and Time

McGrath (MGRC) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

Why McGrath (MGRC) Stock Might be a Great Pick

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McGrath RentCorp (MGRC) CEO Joe Hanna on Q2 2020 Results - Earnings Call Transcript

McGrath (MGRC) delivered earnings and revenue surprises of 557.14% and 28.55%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?

McGrath (MGRC) Beats Q2 Earnings and Revenue Estimates

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LIVERMORE, Calif., July  29, 2020  (GLOBE NEWSWIRE) -- McGrath RentCorp (NASDAQ: MGRC) (the “Company”), a diversified business-to-business rental company, today announced total revenues for the quarter ended June 30, 2020 of $137.7 million, an increase of 8%, compared to the second quarter of 2019.  The Company reported net income of $22.5 million, or $0.92 per diluted share, for the second quarter of 2020, compared to net income of $19.5 million, or $0.79 per diluted share, for the second quarter of 2019. 

McGrath RentCorp Announces Results for Second Quarter 2020

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LIVERMORE, Calif., July  01, 2020  (GLOBE NEWSWIRE) -- McGrath RentCorp (NASDAQ: MGRC) (the “Company”), a diversified business-to-business rental company, today announced plans to release financial results for its second quarter ending June 30, 2020, after the close of regular market trading on Wednesday, July 29, 2020.

McGrath RentCorp Sets Second Quarter 2020 Financial Results Date and Time

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McGrath RentCorp (MGRC) CEO Joe Hanna on Q1 2020 Results - Earnings Call Transcript

McGrath (MGRC) delivered earnings and revenue surprises of 10.96% and 3.40%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

McGrath (MGRC) Surpasses Q1 Earnings and Revenue Estimates

LIVERMORE, Calif., April  29, 2020  (GLOBE NEWSWIRE) -- McGrath RentCorp (NASDAQ: MGRC) (the “Company”), a diversified business-to-business rental company, today announced total revenues for the quarter ended March 31, 2020 of $129.5 million, an increase of 6%, compared to the first quarter of 2019.  The Company reported net income of $20.2 million, or $0.81 per diluted share, for the first quarter of 2020, compared to net income of $18.4 million, or $0.75 per diluted share, for the first quarter of 2019. 

McGrath RentCorp Announces Results for First Quarter 2020

McGrath (MGRC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: McGrath (MGRC) Q1 Earnings Expected to Decline

LIVERMORE, Calif., April  03, 2020  (GLOBE NEWSWIRE) -- McGrath RentCorp (NASDAQ:MGRC) (the “Company”), a diversified business-to-business rental company, announced today that it has entered into a new $250 million note purchase and private shelf agreement with Prudential Private Capital.  In addition to the current $40 million Series B Senior Notes and $60 million Senior C Senior Notes outstanding, the new agreement allows for the issuance of up to an additional $150 million of senior notes on terms to be determined at such time that any additional notes are issued.

McGrath RentCorp Announces New Private Shelf Agreement

LIVERMORE, Calif., April  01, 2020  (GLOBE NEWSWIRE) -- McGrath RentCorp (NASDAQ: MGRC) (the “Company”), a diversified business-to-business rental company, today announced that it has renewed its $420 million credit facility with a syndicate of banks.  The five year facility matures on March 31, 2025 and replaces the Company’s existing $420 million line of credit.  BofA Securities, Inc. served as Sole Bookrunner and Joint Lead Arranger.  Bank of America, N.A. served as Administrative Agent, U.S. Bank National Association served as Joint Lead Arranger and Syndication Agent, and MUFG Union Bank N.A. and Wells Fargo Bank, N.A. served as Syndication Agents.

McGrath RentCorp Announces Renewal of $420 Million Financing

McGrath (MGRC) is well positioned to outperform the market, as it exhibits above-average growth in financials.

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McGrath RentCorp (MGRC) CEO Joe Hanna on Q4 2019 Results - Earnings Call Transcript

McGrath (MGRC) delivered earnings and revenue surprises of 21.59% and 8.17%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?

McGrath (MGRC) Surpasses Q4 Earnings and Revenue Estimates

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LIVERMORE, Calif., Dec.  05, 2019  (GLOBE NEWSWIRE) -- On December 4, 2019, the Board of Directors of McGrath RentCorp (NASDAQ:MGRC), a diversified business-to-business rental company declared a quarterly cash dividend of $0.375 per common share for the quarter ended December 31, 2019. The dividend will be payable on January 31, 2020 to all shareholders of record on January 17, 2020, not December 17, 2019 as previously announced. The year 2019 marks the 28th consecutive year that McGrath RentCorp has raised its dividend to shareholders.  

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