Mcgrath Rentcorp - MGRC STOCK NEWS

McGrath RentCorp has acquired Kitchens To Go, enhancing its Mobile Modular division's offerings in flexible foodservice facilities. This strategic acquisition aims to provide temporary and permanent solutions across various sectors, including education and healthcare. The deal, funded through borrowings from a revolving credit agreement, is not expected to significantly affect the financial outlook for 2021. The CEO expressed optimism about leveraging synergies and the deep industry knowledge of Kitchens To Go's team.

McGrath RentCorp (NASDAQ: MGRC) plans to release its financial results for the first quarter ending March 31, 2021, on April 28, 2021, after market close. A conference call will be held at 5:00 p.m. ET to discuss the results, including a Q&A session. Interested parties can join by phone or via a live webcast. Founded in 1979, McGrath RentCorp provides a range of rental solutions, including modular buildings and electronic test equipment, serving markets across the U.S. and select regions in North America.

McGrath RentCorp (Nasdaq: MGRC) will participate in the Sidoti & Company Spring 2021 Virtual Conference on March 25^th, presenting at 1:00 p.m. ET. A webcast and presentation slides will be accessible in the Investor Relations section of their website, with a replay available for 90 days post-event. Founded in 1979, McGrath RentCorp is a diverse rental company providing modular buildings, electronic test equipment, and storage solutions across the U.S. For more details, visit www.mgrc.com.

McGrath RentCorp (NASDAQ: MGRC) reported Q4 2020 revenues of $149.0 million, a 1% increase YoY, with net income rising to $31.2 million or $1.27 per share. For the full year, revenues reached $572.6 million, up from $570.2 million in 2019, and net income surged to $102.0 million. The board declared a quarterly dividend of $0.435 per share, marking a 4% increase YoY. The company anticipates 2021 revenues between $560 million and $595 million. Performance varied by division, with challenges in rental demand impacting results.

McGrath RentCorp (NASDAQ: MGRC) has launched a new Corporate Responsibility landing page on its website, showcasing its commitment to sustainability and governance. The page aims to enhance navigation for investors, employees, and customers seeking ESG information. CEO Joe Hanna emphasized the company's environmentally sustainable model, promoting reused equipment to save resources and reduce emissions. McGrath's culture prioritizes corporate responsibility, advocating for environmental stewardship and reduced ecological impact. For more details, visit McGrath's Corporate Responsibility page.

McGrath RentCorp (NASDAQ: MGRC) plans to release its fourth quarter financial results for the period ending December 31, 2020, on February 23, 2021, after market close. A conference call to discuss the results will be held at 5:00 p.m. ET, featuring a Q&A session. Investors can listen by calling 1-844-707-0666 or via a webcast on the company’s investor relations webpage. McGrath RentCorp offers diversified rental services across modular buildings, electronic test equipment, and tank containment solutions.

McGrath RentCorp (NASDAQ: MGRC) has appointed Smita Conjeevaram to its Board of Directors. Ron Zech, the Board Chairman, emphasized her extensive finance background and global perspective, noting her successful experience in guiding companies through growth and building scalable infrastructures. Conjeevaram has served as CFO for various firms, including Fortress Investment Group, and is currently on the board of SS&C Technologies. McGrath RentCorp is a diversified rental company offering modular buildings, electronic test equipment, and storage solutions across North America.

McGrath RentCorp (NASDAQ: MGRC) announced a quarterly cash dividend of $0.42 per common share for Q4 2020, payable on January 29, 2021, to shareholders on record by January 15, 2021. This marks the 29th consecutive year of dividend increases, showcasing the company's commitment to returning value to shareholders. McGrath RentCorp operates across four divisions, including Mobile Modular and TRS-RenTelco, focusing on modular buildings and electronic test equipment, respectively.

McGrath RentCorp (NASDAQ: MGRC) reported Q3 2020 revenues of $156.4 million, representing a 10% decrease compared to Q3 2019. Net income fell to $28.1 million, or $1.15 per diluted share. Rental revenues experienced a slight decline of 3%, while Adjusted EBITDA decreased 11% to $62.7 million. The Mobile Modular division showed a 1% rental revenue growth, whereas Adler Tanks faced a 22% decline due to COVID-19 impacts. Despite the struggles, the company anticipates Q4 revenues between $140 million and $150 million, and has increased its dividend by 12% to $0.42 per share.