Mcgrath Rentcorp Stock Price, News & Analysis

McGrath RentCorp (Nasdaq: MGRC) reported robust financial results for the fourth quarter and full year ended December 31, 2022. Total revenues surged 20% to $210.9 million, while net income climbed to $39.6 million, or $1.62 per diluted share. The annual revenue reached $733.8 million, up from $616.8 million in 2021, with adjusted EBITDA increasing to $288.9 million. The board declared a cash dividend of $0.465 per share, marking a 2% increase over the prior year. Highlights include strong rental revenues across divisions, with Mobile Modular reporting an 18% increase. Looking ahead, the company anticipates total revenue between $780 and $810 million for 2023.

McGrath RentCorp (Nasdaq: MGRC) has announced the acquisition of Vesta Modular for $400 million, while divesting its Adler Tank Rentals for $265 million, both completed on February 1, 2023. This strategic move focuses on enhancing McGrath's core Mobile Modular business, increasing the modular revenue mix from 66% to 80%. The acquisition aims to improve geographic coverage, profitability, and customer reach, with anticipated synergies of $8 million annually and $30 million from tax attributes. The company retains a conservative balance sheet with financial flexibility.

McGrath RentCorp (Nasdaq: MGRC), a prominent North American rental company, is set to announce its fourth quarter financial results for 2022 on February 22, 2023, following market trading. The results presentation will be accessible via a conference call at 5:00 PM ET and can be joined via phone or through a live webcast. McGrath RentCorp specializes in modular solutions and has showcased a robust growth trajectory since its founding in 1979. The company is recognized for its commitment to customer satisfaction and has maintained over 30 consecutive years of annual dividend increases, highlighting its financial stability.

McGrath RentCorp (Nasdaq: MGRC) has declared a quarterly cash dividend of $0.455 per common share, payable on January 31, 2023, to shareholders of record as of January 17, 2023. This marks 31 consecutive years of raising dividends, highlighting the company's commitment to shareholder returns. Established in 1979, McGrath is a major player in North America's rental sector, focusing on modular solutions and electronic test equipment. The dividend reflects the company’s strong financial position and growth.

McGrath RentCorp (Nasdaq: MGRC) announced that CEO Joe Hanna and CFO Keith Pratt will present at the Baird 2022 Global Industrial Conference on November 9, 2022. While the presentations will not be webcast, they will be available afterward on the Company’s website under the 'Events and Presentations' section. McGrath, headquartered in Livermore, California, specializes in modular solutions and electronic test equipment rentals, and has maintained over 30 consecutive years of dividend increases, underlining its strong financial performance and commitment to customer satisfaction.

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 $0.455 per share, payable on October 31, 2022. This dividend is for the quarter ending September 30, 2022 and reflects the company's commitment, marking 31 consecutive years of dividend increases. Shareholders of record as of October 17, 2022 will receive this payment.