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Mcgrath Rentcorp (MGRC)
NASDAQ:MGRC
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.49Last Year’s EPS
$1.3Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: 7.06%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted robust growth in revenues and EBITDA, driven by strong performance in Mobile Modular and a strategic termination fee from a merger. However, the business faced significant challenges, including declines in Portable Storage revenues and a slowdown in TRS-RenTelco, impacted by broader market conditions.Company Guidance
During McGrath RentCorp's third-quarter 2024 earnings call, the company provided guidance for continued growth and strategic execution despite challenges. Total company revenues increased 10% to $267 million, and adjusted EBITDA rose 13% to $104 million. The Modular business saw significant growth with rental revenues up 9% and sales revenues increasing 14%, driven by both commercial and education sectors. However, the Portable Storage and TRS-Rentelco businesses faced headwinds, with rental revenues declining 11% and 10% respectively, due to market softness and reduced demand in the construction and test equipment markets. Looking ahead, the company anticipates a challenging demand environment for certain segments into 2025, but expects positive pricing dynamics in the Modular segment to offset some softness. McGrath remains optimistic about long-term growth prospects, supported by strategic acquisitions and broader geographic coverage, and plans to continue disciplined capital allocation with a focus on building long-term shareholder value.Increased Revenue and EBITDA
Total company revenues increased by 10% and adjusted EBITDA increased by 13% for the third quarter.
Strong Performance in Mobile Modular
Mobile Modular experienced a 9% growth in rental revenues and a 14% growth in sales revenues. Adjusted EBITDA increased by 23%.
Strategic Termination Fee
McGrath received a $180 million termination fee from WillScot, contributing to a net income of $104 million for the quarter.
Expansion in Modular Services
Mobile Modular Plus revenues increased, and site-related services grew to $12.8 million from $10.1 million.
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MGRC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MGRC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $105.22 | $114.17 | +8.51% |
| Jul 25, 2024 | $115.12 | $110.54 | -3.98% |
| Apr 25, 2024 | $108.37 | $110.76 | +2.21% |
| Feb 21, 2024 | $125.17 | $123.24 | -1.54% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Mcgrath Rentcorp (MGRC) report earnings?
Mcgrath Rentcorp (MGRC) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Mcgrath Rentcorp (MGRC) earnings time?
Mcgrath Rentcorp (MGRC) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MGRC EPS forecast?
MGRC EPS forecast for the fiscal quarter 2024 (Q4) is $1.49.
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