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.
McGrath RentCorp (symbol: MGRC) is a diversified business-to-business rental provider, founded in 1979 and headquartered in Livermore, California. The company operates several specialized units that cater to different market needs:
- Mobile Modular Management Corporation: Provides relocatable modular buildings for rent, lease, or purchase. These modular solutions are ideal for businesses requiring temporary or permanent space solutions. Explore more at mobilemodularrents.com.
- Mobile Modular Portable Storage: Specializes in portable storage containers and office/storage combinations available for rent, lease, or purchase. For more details, visit mobilemodularrents-portablestorage.com.
- TRS-RenTelco: Offers rental, lease, and sale of electronic test and measurement equipment for general and communication-specific needs. Learn more at trs-rentelco.com.
- Enviroplex, Inc.: Manufactures Division of the State Architect (DSA) approved modular buildings for public and private schools across California. Further information can be found at enviroplexi.com.
- Adler Tank Rentals: Provides containment solutions for the storage of hazardous and non-hazardous liquids and solids.
McGrath RentCorp's business model primarily revolves around renting out its specialized equipment on operating leases, while equipment sales happen as part of regular business activities. The company's revenues majorly stem from these rental services, making it a reliable partner for various industries in need of temporary and flexible solutions.
Recent achievements include participation in the Sidoti & Company Small-Cap Conference, showcasing its growth and potential to investors. This reflects McGrath RentCorp's ongoing commitment to expanding its market reach and enhancing shareholder value.
McGrath RentCorp (Nasdaq: MGRC) reported a strong performance for Q3 2022, showing total revenues of $200.5 million, up 16% year-over-year. Net income rose to $30.6 million, translating to $1.25 per diluted share. Rental revenues grew 15% to $118.4 million, with Mobile Modular rental revenues increasing by 17%. Adjusted EBITDA reached $74.7 million, a 13% increase. The dividend rate also saw a 5% rise to $0.455 per share, indicating strong shareholder returns. The company has raised its full-year revenue expectations to $720-$735 million.
McGrath RentCorp (Nasdaq: MGRC) has unveiled a new brand identity and logo after 43 years, aiming to reflect its strategic growth and customer-centric approach. The updated logo symbolizes 'repeating Ms,' representing modular solutions and the company's long-standing momentum with 31 years of dividend growth. McGrath is expanding its focus beyond rentals into new geographies and services. Its new tagline, 'Enabling our customers to do great things™,' emphasizes its commitment to customer success. Founded in 1979, McGrath remains a leader in the North American business-to-business rental sector.
McGrath RentCorp (NASDAQ: MGRC) will release its third-quarter financial results on October 27, 2022, after market close. The Company, a provider of modular buildings, electronic test equipment, and portable storage solutions, will host a conference call at 5:00 p.m. ET to discuss the results. Investors can access the call by phone or through the company's webcast. Founded in 1979, McGrath RentCorp operates across various North American regions.
The Board of Directors of McGrath RentCorp (NASDAQ:MGRC) has declared a quarterly cash dividend of
McGrath RentCorp (Nasdaq: MGRC), a diversified rental company, will participate in the Sidoti & Company September Small-Cap Virtual Investor Conference on September 21 at 4:00 p.m. ET. A live webcast and presentation slides will be available on the company's Investor Relations page, with a replay accessible for 90 days post-presentation. The company, established in 1979, operates in modular buildings, electronic test equipment, portable storage, and tank containment solutions.
McGrath RentCorp (NASDAQ: MGRC) reported strong financial results for Q2 2022, with total revenues of $177.0 million, a 21% year-over-year increase. Net income rose to $26.1 million, equating to $1.07 per diluted share. The Mobile Modular division led growth with a 22% increase in rental revenues, supported by acquisitions. Adjusted EBITDA reached $66.3 million, up 13%. The company also raised its full-year outlook, anticipating total revenues between $695 million and $720 million.
McGrath RentCorp (NASDAQ: MGRC) has secured a $650 million credit facility from a syndicate of banks, maturing on July 15, 2027. This new facility replaces the previous $420 million line of credit. The funds will be allocated for working capital, capital expenditures, and other general corporate purposes. The facility was arranged by BofA Securities, Inc., with Bank of America as the administrative agent. This strategic move is expected to bolster McGrath's operational capabilities and financial stability.
McGrath RentCorp (NASDAQ: MGRC) plans to announce its financial results for the second quarter ending June 30, 2022, after market close on July 28, 2022. A conference call will take place at 5:00 p.m. ET on the same day, accessible via a toll-free number or a live webcast on their investor relations site. The company, operational since 1979, provides rental services including modular buildings and electronic test equipment across the U.S. and select regions in North America.
The Board of Directors of McGrath RentCorp (NASDAQ:MGRC) has announced a quarterly cash dividend of
McGrath RentCorp (NASDAQ: MGRC) reported a strong first quarter of 2022 with total revenues of $145.4 million, a 20% increase year-over-year. Net income rose to $18.8 million or $0.77 per diluted share, up from $17.4 million a year ago. Rental revenues surged 21% to $104.2 million, with notable growth in the modular segment driven by acquisitions. The company also announced a 5% dividend increase to $0.455 per share. The outlook for 2022 remains positive with projected total revenues between $675 million and $705 million.
FAQ
What is the current stock price of Mcgrath Rentcorp (MGRC)?
What is the market cap of Mcgrath Rentcorp (MGRC)?
What services does McGrath RentCorp provide?
Where is McGrath RentCorp headquartered?
When was McGrath RentCorp founded?
What are the main business segments of McGrath RentCorp?
How does McGrath RentCorp generate its revenues?
What is Mobile Modular Management Corporation?
What type of equipment does TRS-RenTelco offer?
Who are the customers of Enviroplex, Inc.?
What recent events has McGrath RentCorp participated in?
What is Adler Tank Rentals known for?
