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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.

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.

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McGrath RentCorp (Nasdaq: MGRC), a prominent B2B rental company in North America, announced the release date for its Q2 2024 financial results. The results, reflecting the quarter ending on June 30, 2024, will be disclosed after market close on Thursday, July 25, 2024. A conference call to discuss these results will be held at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) the same day. Interested parties can participate by dialing designated phone numbers or via a live webcast on the company's investor relations website. A replay of the call will be available for seven days post-event.

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McGrath RentCorp (Nasdaq: MGRC) has scheduled a special shareholder meeting on July 11, 2024, to vote on its proposed acquisition by WillScot Mobile Mini (Nasdaq: WSC).

The virtual meeting will occur at 2:00 PM Pacific Time via webcast. Shareholders of record as of May 31, 2024, are eligible to participate. For more information on the meeting and proposals, refer to the definitive proxy statement.

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McGrath RentCorp (Nasdaq: MGRC), a leading business-to-business rental company in North America, has announced a quarterly cash dividend of $0.475 per common share for Q2 2024. This dividend will be paid on July 31, 2024, to shareholders recorded by July 17, 2024. Impressively, 2024 marks the 33rd consecutive year that McGrath has increased its dividend to shareholders, reflecting the company's commitment to returning value to its investors.

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McGrath RentCorp reported strong financial performance for the first quarter of 2024, with total revenues reaching $187.8 million, a 15% increase year-over-year. Net income from continuing operations rose to $22.8 million, or $0.93 per diluted share, compared to $11.5 million, or $0.47 per diluted share, in the first quarter of 2023. The Company highlighted growth in rental revenues, adjusted EBITDA, and a $0.28 per share gain on the sale of a property. Mobile Modular division's Adjusted EBITDA increased by 34% to $43.3 million, while Portable Storage division reported an Adjusted EBITDA of $11.5 million, up 15% from the same quarter in 2023. TRS-RenTelco division experienced a 10% decrease in Adjusted EBITDA to $18.5 million due to weakness in semiconductor-related markets.
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McGrath RentCorp (MGRC) announces plans to release financial results for the first quarter of 2024, hosting a conference call to discuss the results on April 25, 2024. Investors can access the call via phone or webcast.
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McGrath RentCorp (MGRC) reported strong financial results for the fourth quarter and full year ended December 31, 2023, with total revenues increasing by 21% and adjusted EBITDA rising by 28%. Net income from continuing operations also showed growth. The company declared a cash dividend increase for the upcoming quarter, marking 33 consecutive years of dividend growth.
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McGrath RentCorp (MGRC) plans to release its financial results for the fourth quarter of 2023 on February 21, 2024, after the close of regular market trading. The company will host a conference call to discuss the results, which can be accessed through dial-in or webcast. A replay will also be available for 7 days following the call.
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Janus International Group, Inc. (NYSE: JBI) has announced the election of new members to the Board of Directors, including Tony Byerly, Joseph F. Hanna, and Eileen Youds, as well as the appointment of Roger Fradin as Chairman of the Board and David Doll as Chair of the Nominating and Corporate Governance Committee.
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McGrath RentCorp (MGRC) to Participate in Oppenheimer Midwest Industrial Summit Conference
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McGrath RentCorp (MGRC) declares a quarterly cash dividend of $0.465 per common share for the quarter ended December 31, 2023, marking 32 consecutive years of dividend raises.
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FAQ

What services does McGrath RentCorp provide?

McGrath RentCorp offers modular buildings, portable storage, electronic test equipment, containment solutions, and modular classrooms for rent, lease, or purchase.

Where is McGrath RentCorp headquartered?

McGrath RentCorp is headquartered in Livermore, California.

When was McGrath RentCorp founded?

McGrath RentCorp was founded in 1979.

What are the main business segments of McGrath RentCorp?

The main business segments are Mobile Modular, Mobile Modular Portable Storage, TRS-RenTelco, Enviroplex, and Adler Tank Rentals.

How does McGrath RentCorp generate its revenues?

McGrath RentCorp generates revenues primarily from the rental of its specialized equipment through operating leases, with additional income from equipment sales.

What is Mobile Modular Management Corporation?

Mobile Modular Management Corporation provides relocatable modular buildings for rent, lease, or purchase.

What type of equipment does TRS-RenTelco offer?

TRS-RenTelco offers electronic test and measurement equipment for both general and communication-specific needs.

Who are the customers of Enviroplex, Inc.?

Enviroplex, Inc. serves public and private schools throughout California with DSA-approved modular buildings.

What recent events has McGrath RentCorp participated in?

McGrath RentCorp recently participated in the Sidoti & Company Small-Cap Conference, highlighting its market presence and potential.

What is Adler Tank Rentals known for?

Adler Tank Rentals provides containment solutions for the storage of hazardous and non-hazardous liquids and solids.

McGrath RentCorp

Nasdaq:MGRC

MGRC Rankings

MGRC Stock Data

2.76B
24.55M
1.57%
91.67%
3.77%
General Warehousing and Storage
Transportation and Warehousing
Link
United States of America
LIVERMORE