Mcgrath Rentcorp - MGRC STOCK NEWS

McGrath RentCorp (Nasdaq: MGRC) has appointed Philip B. Hawkins as Chief Operating Officer (COO). Hawkins, who previously served as Senior Vice President and Division Manager of Mobile Modular, brings over 20 years of experience with McGrath to the role. In his new position, he will continue to oversee Mobile Modular businesses while expanding his operational leadership responsibilities across the company.

Hawkins' extensive experience includes leadership roles as Vice President and Division Manager of TRS-RenTelco (2007-2011) and Manager of Corporate Financial Planning and Analysis (2004-2007). Before joining McGrath, he worked at Dell Financial Services and held positions at Technology Rentals and Services (TRS). CEO Joe Hanna expressed confidence in Hawkins' ability to help deliver McGrath's next growth phase, citing his proven track record and deep industry knowledge.

McGrath RentCorp (Nasdaq: MGRC), a leading North American business-to-business rental company, has announced its participation in the CJS Securities 25th Annual New Ideas for the New Year Conference. The presentation is scheduled for Tuesday, January 14, 2025, at 1:35 p.m. ET.

Chief Executive Officer Joe Hanna and EVP/Chief Financial Officer Keith Pratt will represent the company at the conference. Investors can access the presentation through a live webcast and slides available on McGrath's investor relations website. The presentation materials will remain accessible for approximately 90 days following the event through the company's website at investors.mgrc.com/events-and-presentations.

McGrath RentCorp (Nasdaq: MGRC) has announced a quarterly cash dividend of $0.475 per common share for the quarter ending December 31, 2024. The dividend will be paid on January 31, 2025, to shareholders of record as of January 17, 2025. This announcement marks 33 consecutive years of dividend increases by McGrath, demonstrating the company's consistent commitment to shareholder returns.

McGrath RentCorp (Nasdaq: MGRC), a leading North American business-to-business rental company, has announced its participation in the Oppenheimer Midwest Virtual Summit. The company's CEO Joe Hanna and EVP/CFO Keith Pratt will engage in investor meetings during the summit scheduled for December 11, 2024.

McGrath RentCorp (Nasdaq: MGRC), a prominent North American business-to-business rental company, has announced its participation in the Wolfe Research Small and Mid-Cap Conference. The company's CEO Joe Hanna and EVP & CFO Keith Pratt will engage in investor meetings at the conference scheduled for December 5, 2024.

McGrath RentCorp (Nasdaq: MGRC) has announced its participation in the upcoming Baird 2024 Global Industrial Conference. CEO Joe Hanna and CFO Keith Pratt will deliver a presentation at the event on Thursday, November 14, 2024. While the conference presentations won't be available via webcast, investors can access the presentation materials through McGrath's investor relations website under the 'Events and Presentations' section on the morning of the event.

McGrath RentCorp (MGRC) reported Q3 2024 total revenues of $266.8 million, up 10% year-over-year. Net income reached $149.3 million, or $6.08 per diluted share, including a $180 million merger termination payment from WillScot Mobile Mini. Excluding this payment and related costs, adjusted net income was $45.9 million ($1.87 per share). Mobile Modular division showed strong performance with 9% rental revenue growth, while Portable Storage and TRS-RenTelco faced challenges with 11% and 10% rental revenue declines respectively. The company updated its 2024 guidance, projecting total revenue of $910-920 million and Adjusted EBITDA of $345-351 million.

McGrath RentCorp (Nasdaq: MGRC), a leading business-to-business rental company in North America, has announced its plans to release financial results for the third quarter ending September 30, 2024. The results will be disclosed after the close of regular market trading on Thursday, October 24, 2024.

Following the release, McGrath will host a conference call at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) to discuss the results. Interested parties can access the call by dialing 1-800-245-3047 (international callers: 1-203-518-9765) or by listening to the simultaneous webcast on the company's investor relations website.

A replay of the call will be available for 7 days by dialing 1-800-753-9146 (international callers: 1-402-220-2705). Additionally, a live audio webcast and replay can be accessed through the investor relations section of McGrath's website.

McGrath RentCorp (Nasdaq: MGRC) has confirmed the termination of its pending merger with WillScot Holdings (Nasdaq: WSC). As per the agreement, McGrath will receive a $180 million termination fee from WillScot. The company's Board has increased the share repurchase authorization to 2 million shares. McGrath plans to provide updates on its financial outlook, business strategy, and capital allocation during its third-quarter earnings conference call on October 24, 2024.

CEO Joseph Hanna emphasized the company's commitment to growth through customer-first approach and executing their standalone strategy. McGrath will continue to focus on modular and portable storage growth opportunities, including expanded service offerings like Mobile Modular Plus, Site Related Services, and new modular equipment sales. The company aims to increase its customer base and geographic coverage while maintaining its 33-year track record of consecutive dividend increases.