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Mcgrath Rentcorp - MGRC STOCK NEWS

Welcome to our dedicated page for Mcgrath Rentcorp news (Ticker: MGRC), a resource for investors and traders seeking the latest updates and insights on Mcgrath Rentcorp stock.

Overview

McGrath RentCorp (MGRC) is a diversified business-to-business rental provider that has established a significant presence in the rental solutions industry. Operating through four distinct business segments, the company offers a wide range of rental, leasing, and sale options designed to serve multiple market needs. With a comprehensive portfolio that includes modular buildings, portable storage units, electronic test and measurement equipment, and modular classroom solutions, McGrath RentCorp addresses the evolving demands of infrastructure, operational flexibility, and technology testing for both public and private sectors.

Business Segments and Core Offerings

The company is organized into four reportable segments, each with its own area of specialization and expertise:

  • Mobile Modular: This segment offers relocatable modular buildings which can be rented, leased, or purchased. These structures are designed to be quickly deployed, providing flexible space solutions that cater to businesses needing temporary or long-term accommodations.
  • Portable Storage: Under this banner, McGrath RentCorp provides portable storage containers and combinations of office/storage solutions. These units are designed to meet the storage and operational space requirements of various industries, offering convenience and mobility.
  • TRS-RenTelco: Focusing on electronic test and measurement equipment, this segment rents, leases, and sells a broad array of instruments for general-purpose as well as communications-specific needs. The offerings in this segment support companies requiring precise equipment for testing, diagnostics, and quality assurance in technologically driven sectors.
  • Enviroplex: Dedicated to serving the educational and public sectors, this business unit manufactures Division of the State Architect (DSA) approved modular buildings. Primarily used as classrooms and other educational facilities, these modular solutions comply with strict regulatory standards and are tailored for public and private school applications throughout California.

Operational Model and Revenue Generation

McGrath RentCorp generates its revenues primarily through the rental of its equipment under operating leases, with occasional sales occurring as part of routine transactions. This approach emphasizes recurring revenue and asset utilization, allowing the company to adapt to varying demands across industries. The blend of rental, leasing, and sale operations provides flexibility in addressing the needs of businesses looking to optimize their capital investments in essential infrastructure and equipment.

Industry Context and Competitive Positioning

Within the rental and leasing industry, McGrath RentCorp stands out by offering tailored solutions that address a diverse set of market requirements. By focusing on both infrastructure solutions such as modular buildings and technical equipment like electronic testing instruments, the company has positioned itself as a comprehensive service provider serving multiple sectors. Its business-to-business focus allows it to cater to industries where agility and rapid deployment of assets are critical, supported by an operational model based on long-term leases and flexible rental terms.

Expertise and Value Proposition

The company's expertise is built on decades of industry experience dating back to its founding in 1979. Its diversified structure not only minimizes risk by spreading revenue sources across different segments but also reinforces its reputation as an informed operator deeply familiar with the nuances of each industry it serves. The operational approach—emphasizing quality, flexibility, and regulatory compliance—ensures that businesses and educational institutions alike can rely on the company's assets to meet short-term projects or long-term expansions without significant capital expenditure.

Detailed Segment Insights

Mobile Modular: The relocatable modular building segment is engineered to provide solutions that can be rapidly implemented. These structures are particularly valuable for companies needing temporary facilities during construction, expansions, or emergency situations. Their ease of transport and setup makes them an attractive option for a variety of applications.

Portable Storage: This segment is designed to offer secure, durable, and adaptable storage options for businesses dealing with fluctuating inventory and operational space needs. The flexibility in rental, leasing, or purchasing makes these units accessible to a broad customer base, ranging from industrial to commercial applications.

TRS-RenTelco: Serving a niche that bridges the gap between traditional equipment rental and advanced technological needs, this segment emphasizes high-quality electronic test and measurement devices. Such solutions are crucial for industries engaged in communications, electronics manufacturing, and various quality assurance processes. Its dual approach—leasing for operational continuity and selling for capacity building—allows customers to choose the model that best fits their operational strategies.

Enviroplex: Focused on meeting the specific requirements of educational institutions and public facilities, this segment manufactures modular buildings that adhere rigorously to state standards. These products are tailored for environments where safety, durability, and regulatory compliance are paramount, providing reliable infrastructure solutions for temporary or permanent educational spaces.

Operational Strengths and Market Adaptability

McGrath RentCorp's diversified portfolio allows for resilience in an ever-changing market. By capitalizing on operating leases as a primary revenue channel, the company ensures a steady flow of income while minimizing the need for heavy capital investment from its customers. The flexible rental terms, combined with reliable technical infrastructure, make it a pragmatic choice for businesses and institutions that require scalable and agile asset management.

Customer Base and Service Excellence

The company predominantly serves other businesses and institutions. Its customer base includes companies facing temporary space constraints, organizations undergoing expansions, schools and government bodies requiring compliant facilities, and tech-driven industries in need of precision equipment. The comprehensive nature of its service offerings means that McGrath RentCorp is well-poised to address a range of operational challenges with a focus on practicality and cost efficiency.

Summary and Industry Relevance

In summary, McGrath RentCorp is a multifaceted rental provider that leverages years of experience and expertise to offer a broad range of products and services across several key industries. With an emphasis on modular and portable solutions combined with technical equipment availability, the company plays a crucial role in fulfilling the dynamic asset requirements of modern businesses and institutions. Its operational model based on flexible leasing and rental solutions further cements its market position, underlining its importance as a resource for companies seeking efficient and reliable temporary and long-term infrastructure support.

Conclusion

McGrath RentCorp has successfully integrated diverse product segments under one corporate umbrella, enabling it to serve a wide array of needs. The company's strategic focus on operating leases and rental contracts speaks to its core mission of providing flexible, cost-effective solutions in an unpredictable market. Through its robust portfolio and industry-specific expertise, McGrath RentCorp remains a noteworthy participant in the rental industry, facilitating the operational success of its numerous clientele.

Rhea-AI Summary

McGrath RentCorp (Nasdaq: MGRC), a leading business-to-business rental company in North America, has scheduled its first quarter 2025 financial results release for Thursday, April 24, 2025, after market close.

The company will host a conference call at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) on the same day to discuss the results. Investors can access the call via phone (1-800-225-9448 for domestic, 1-203-518-9708 for international) or through a simultaneous webcast on the company's investor relations website.

A 7-day replay will be available by phone (1-800-839-5324 domestic, 1-402-220-1521 international) and the webcast will be archived on McGrath's website.

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McGrath RentCorp (Nasdaq: MGRC), a prominent North American business-to-business rental company, has announced its participation in the upcoming Sidoti Small-Cap Virtual Conference. The company's leadership team, including Chief Executive Officer Joe Hanna and EVP & Chief Financial Officer Keith Pratt, will engage in investor meetings during the conference scheduled for March 19, 2025.

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McGrath RentCorp (MGRC) reported strong Q4 2024 results with total revenues reaching $243.7 million, up 10% year-over-year. Net income from continuing operations was $38.9 million, or $1.58 per diluted share, compared to $32.0 million in Q4 2023.

For full-year 2024, revenues increased 10% to $910.9 million, with adjusted EBITDA growing by $33.4 million to $351.7 million. The company announced its 34th consecutive annual dividend increase, raising the quarterly dividend by 2% to $0.485 per share.

By division, Mobile Modular showed strong performance with 8% rental revenue growth, while Portable Storage and TRS-RenTelco faced challenges with rental revenue declines of 15% and 9% respectively. The company's board declared a quarterly dividend payable on April 30, 2025, representing a 1.6% yield based on the February 18, 2025 closing price.

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McGrath RentCorp (MGRC), a leading North American business-to-business rental company, has achieved a significant milestone by completing its 40th anniversary as a Nasdaq-listed company. To commemorate this achievement, McGrath will be featured on the Nasdaq Tower in Times Square on February 11.

President and CEO Joe Hanna expressed gratitude to the company's leaders, team members, customers, shareholders, and stakeholders for their dedication and trust throughout the years. He emphasized that McGrath is well-positioned for continued growth and future achievements.

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McGrath RentCorp (Nasdaq: MGRC), a leading business-to-business rental company in North America, has announced it will release its fourth quarter 2024 financial results after market close on Wednesday, February 19, 2025. The company will host a conference call at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) on the same day to discuss the results.

Investors can access the conference call by dialing 1-800-445-7795 (international: 1-785-424-1699) or through a simultaneous webcast on the company's investor relations website. A replay will be available for 7 days by dialing 1-800-723-7372 (international: 1-402-220-2666) and can also be accessed through the company's website.

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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.

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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.

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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.

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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.

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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.

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FAQ

What is the current stock price of Mcgrath Rentcorp (MGRC)?

The current stock price of Mcgrath Rentcorp (MGRC) is $105.12 as of April 4, 2025.

What is the market cap of Mcgrath Rentcorp (MGRC)?

The market cap of Mcgrath Rentcorp (MGRC) is approximately 2.6B.

What is McGrath RentCorp's core business model?

McGrath RentCorp operates as a diversified business-to-business rental provider. Its business model revolves around generating revenue primarily through operating leases, with rental, lease, and occasional sale options forming the backbone of its operations.

What are the main segments of McGrath RentCorp?

The company is segmented into four principal areas: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex. Each segment focuses on specific product categories such as modular buildings, portable storage units, electronic test equipment, and modular classroom facilities.

How does the company generate its revenue?

Revenue is mainly generated from operating leases, which provide a steady income stream. The company also engages in the sale of equipment as part of its regular business operations.

Who are the typical customers of McGrath RentCorp?

McGrath RentCorp serves a wide range of business and institutional clients, including commercial enterprises, educational institutions, and government bodies. Its services are particularly valuable to entities requiring temporary infrastructure or specialized equipment for operations.

How does McGrath RentCorp differentiate itself from competitors?

The company's diversified portfolio and flexible leasing options allow it to address varied market needs. Its focus on tailored solutions for both infrastructure and technical equipment, coupled with an extensive industry understanding, helps differentiate it from single-service competitors.

What types of equipment are available for rental through McGrath RentCorp?

The company offers a variety of rental options including relocatable modular buildings, portable storage containers, and electronic test and measurement equipment. Each segment is designed to meet specific operational requirements across different industries.

How does the Enviroplex segment serve the educational market?

Enviroplex specializes in manufacturing modular buildings that comply with state regulatory standards, making them ideal for public and private schools. These structures are designed to serve as classrooms or other educational facilities, emphasizing safety and durability.

What are the key strengths of McGrath RentCorp's operational model?

The company benefits from a diversified revenue base and flexible operating leases that stabilize income. Its ability to offer rapid deployment of modular solutions and reliable equipment leasing makes it a trusted partner for businesses needing agile infrastructure support.
Mcgrath Rentcorp

Nasdaq:MGRC

MGRC Rankings

MGRC Stock Data

2.61B
24.15M
1.53%
89.11%
1.61%
Rental & Leasing Services
Services-equipment Rental & Leasing, Nec
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United States
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