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About McGrath RentCorp
McGrath RentCorp (NASDAQ: MGRC), headquartered in Livermore, California, is a diversified business-to-business rental and leasing company that delivers flexible, scalable solutions across multiple industries. Established in 1979, the company operates through four primary business segments: Mobile Modular Management Corporation, Mobile Modular Portable Storage, TRS-RenTelco, and Enviroplex, Inc.. These segments collectively address the needs of businesses, educational institutions, and other organizations requiring temporary infrastructure, specialized equipment, and modular building solutions.
Core Business Segments
1. Mobile Modular Management Corporation
Mobile Modular specializes in providing relocatable modular buildings for rent, lease, or purchase. These modular solutions are used in a variety of applications, including office spaces, classrooms, and temporary facilities. The segment’s ability to offer customizable and rapidly deployable structures makes it a critical partner for industries requiring flexible infrastructure solutions.
2. Mobile Modular Portable Storage
This segment delivers portable storage containers and office/storage combinations for rent, lease, or purchase. These solutions are ideal for businesses seeking secure, on-site storage options or temporary office spaces. The portable storage segment complements the modular building business by catering to industries with overlapping needs for temporary infrastructure and storage.
3. TRS-RenTelco
TRS-RenTelco focuses on renting, leasing, and selling electronic test and measurement equipment. Serving both general-purpose and communications-specific needs, this segment supports industries such as telecommunications, aerospace, and manufacturing, where access to advanced testing equipment is essential but often cost-prohibitive for outright purchase.
4. Enviroplex, Inc.
Enviroplex is a California-based manufacturer of Division of the State Architect (DSA)-approved modular buildings, primarily serving public and private schools. By focusing on educational institutions, this segment addresses the growing demand for cost-effective, scalable classroom solutions in a state with stringent building regulations.
Revenue Model and Operations
McGrath RentCorp generates the majority of its revenue through the rental and leasing of its equipment on operating leases. These agreements provide stable, recurring income streams and are supplemented by the sale of equipment in the normal course of business. The company’s diversified portfolio allows it to mitigate risks associated with reliance on a single market segment, while its B2B model emphasizes long-term customer relationships and tailored solutions.
Competitive Positioning
Operating in multiple industries, McGrath RentCorp faces competition from specialized providers in each of its segments. Its competitive edge lies in its ability to offer a broad range of solutions under one umbrella, supported by decades of expertise and a strong reputation for reliability. The company’s modular building and portable storage solutions cater to industries with dynamic infrastructure needs, while TRS-RenTelco’s extensive inventory of electronic test equipment positions it as a key player in its niche market. Enviroplex further differentiates the company by addressing the unique requirements of California’s educational sector.
Market Significance
McGrath RentCorp’s diversified business model positions it as a critical partner for organizations needing temporary or specialized solutions. Its ability to serve a wide range of industries, from education to telecommunications, underscores its market relevance. By focusing on rental and leasing models, the company aligns with broader trends favoring asset-light strategies and operational flexibility.
Conclusion
McGrath RentCorp exemplifies a diversified approach to the rental and leasing industry, combining expertise in modular buildings, portable storage, electronic test equipment, and modular classrooms. Its focus on delivering tailored, scalable solutions across multiple sectors ensures its continued relevance in a dynamic market landscape.
McGrath RentCorp (Nasdaq: MGRC) announces participation in the Sidoti & Company, LLC Spring Virtual Small Cap Investor Conference on March 23 at 4:00 p.m. ET. A webcast along with presentation slides will be accessible in the Investor Relations section of their website. A replay will be available for 90 days post-presentation. Founded in 1979, McGrath RentCorp is a diversified rental company offering modular buildings, electronic test equipment, and storage solutions across the U.S. and select North American regions.
McGrath RentCorp (NASDAQ: MGRC) announced a 5% dividend increase alongside its fourth quarter 2021 results, revealing total revenues of $175.9 million, an 18% year-over-year rise. Net income for Q4 2021 was $28.4 million, down from $31.2 million in the same period last year. Annual revenues reached $616.8 million, with adjusted EBITDA increasing to $246.6 million. The Mobile Modular division saw a strong 29% increase in rental revenues. The company anticipates full-year 2022 revenues between $675 million and $705 million.
McGrath RentCorp (NASDAQ: MGRC) will release its financial results for the fourth quarter ending December 31, 2021, on February 23, 2022, after market closure. The Company will host a conference call at 5:00 p.m. ET to discuss these results. Investors can participate by dialing 1-844-707-0666 or through a webcast available on their website. McGrath RentCorp is a diversified rental company providing modular buildings, electronic test equipment, and other solutions across the U.S. and select North American regions.
McGrath RentCorp (MGRC) has acquired the assets of Titan Storage Containers, LLC, a regional provider of portable storage solutions in Texas. This acquisition adds approximately 1,100 assets to McGrath's Mobile Modular division fleet in the region. The transaction was financed through borrowings from McGrath's revolving credit facility. CEO Joe Hanna noted that this acquisition aligns with their capital deployment strategy and will enhance their service capabilities and market share in Texas.
McGrath RentCorp (NASDAQ:MGRC) declared a quarterly cash dividend of $0.435 per share for Q4 2021, payable on January 31, 2022, to shareholders of record on January 17, 2022. This marks the 30th consecutive year of increased dividends for the company, showcasing its commitment to returning value to shareholders. Established in 1979, McGrath RentCorp operates in diversified rental services across the US and North America, focusing on modular buildings, electronic test equipment, and storage solutions.
McGrath RentCorp (Nasdaq: MGRC), a diversified business-to-business rental company, will participate in the Baird 2021 Global Industrial Conference on November 10 at 4:20 p.m. ET. The event will include a presentation and a simultaneous webcast available in the Investor Relations section of their website. A replay will be accessible for 90 days post-event. Founded in 1979, McGrath RentCorp offers modular buildings, electronic test equipment, and portable storage solutions across the U.S. and select North American regions.
McGrath RentCorp (NASDAQ: MGRC) reported Q3 2021 revenues of $173.3 million, an 11% increase from the previous year. Net income was $23.3 million, or $0.95 per share, down from $28.1 million, or $1.15 per share, in Q3 2020. Rental revenues surged 17% to $103.3 million, with notable growth from recent acquisitions. Adjusted EBITDA rose 5% to $66.0 million, and dividends increased by 4% to $0.435 per share. Challenges included elevated material and labor costs, affecting margins, though pricing adjustments are underway.
McGrath RentCorp (NASDAQ: MGRC) is set to release its third-quarter financial results for the period ending September 30, 2021, on October 28, 2021. The results will be disclosed after the market closes, followed by a conference call at 5:00 p.m. ET to discuss the findings. Investors can access the call by phone or through a live webcast. The company specializes in business-to-business rentals including modular buildings and electronic test equipment, positioning itself for growth in diverse markets.
The Board of Directors of McGrath RentCorp (NASDAQ:MGRC) announced a quarterly cash dividend of
McGrath RentCorp (Nasdaq: MGRC), a diversified rental company, will present at the Sidoti & Company, LLC Fall Virtual Small Cap Investor Conference on September 23, 2021, at 2:30 p.m. ET. Investors can access the live webcast and presentation slides on the company's Investor Relations website. A replay will be available for 90 days post-event. Founded in 1979, McGrath RentCorp offers modular buildings, electronic test equipment, and storage solutions across the U.S. and select North American regions.
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