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 (Nasdaq: MGRC) is a North American business-to-business rental company, and this page aggregates news and press releases related to its stock and operations. The company’s public communications describe a focus on modular solutions through its Mobile Modular and Mobile Modular Portable Storage businesses, and on electronic test equipment rental solutions through its TRS-RenTelco business.
Investors following MGRC news can review updates on quarterly financial results, dividend declarations and changes to the company’s financial outlook. McGrath RentCorp regularly announces total revenues, rental operations revenues, sales revenues, income from operations and adjusted EBITDA, along with commentary from management on market demand conditions across its modular, portable storage and TRS-RenTelco activities.
News items also include information on McGrath RentCorp’s dividend history. The company has stated that 2025 marks 34 consecutive years of dividend increases, and it periodically issues press releases when its Board of Directors declares quarterly cash dividends. These releases provide context on the company’s approach to shareholder returns alongside its rental-focused business model.
In addition, McGrath RentCorp uses news releases to announce participation in investor conferences and to schedule earnings calls. These communications give investors insight into how the company presents its strategy, discusses the circular supply economy aspects of its rental offerings and comments on trends in modular solutions, portable storage and electronic test equipment rental. For users tracking MGRC, this news page offers a centralized view of the company’s official announcements and market-facing updates.
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.
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 $0.455 per common share for the quarter ended June 30, 2022. This dividend will be payable on July 29, 2022 to all shareholders on record as of July 15, 2022. Notably, 2022 marks the 31st consecutive year that McGrath RentCorp has increased its dividend, reflecting its strong commitment to returning value to its shareholders.
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.