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 reports recurring developments for a North American business-to-business rental company centered on modular space solutions, portable storage and electronic test equipment. Its updates commonly cover rental revenue, equipment sales, fleet investment, and operating trends across Mobile Modular, Mobile Modular Portable Storage, TRS-RenTelco and Enviroplex.
Company news also includes dividend declarations and annual dividend increases, earnings-call schedules, investor-conference participation and governance updates such as executive succession. Segment commentary often links modular demand, site-related services, geographic expansion and test-equipment rentals to broader customer project activity.
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.
McGrath RentCorp (Nasdaq:MGRC) will participate in the Oppenheimer 7th Annual Industrial Growth Conference on May 4, 2022, at 1:30 p.m. ET. The presentation will be available via a live webcast, along with slides in the Investor Relations section of the company's website. A replay of the event will be accessible for 90 days post-presentation. Founded in 1979, McGrath RentCorp provides modular buildings, electronic test equipment, and storage solutions in the U.S. and select North American regions.
McGrath RentCorp (NASDAQ: MGRC) plans to release its financial results for the first quarter ending March 31, 2022, after market close on April 28, 2022. A conference call will follow at 5:00 p.m. Eastern Time to discuss the results, accessible via phone or webcast. Founded in 1979, McGrath RentCorp offers diversified rental services, including modular buildings, electronic test equipment, and portable storage solutions across the United States and select North American regions.
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.