McGrath RentCorp Earnings Reports

McGrath RentCorp achieved a 10% year-over-year increase in total revenue for Q4 2024, reaching $243.7 million. Net income rose to $38.9 million, with EPS at $1.58. The Mobile Modular segment led growth with an 8% increase in rental revenue, while Portable Storage and TRS-RenTelco faced declines due to weak demand.

McGrath RentCorp reported a 10% increase in total revenues, reaching $266.8 million for Q3 2024. Net income from continuing operations was $149.3 million, or $6.08 per diluted share, which included a $103.5 million net income contribution from a merger termination payment. Excluding this payment, net income was $45.9 million, or $1.87 per diluted share.

McGrath RentCorp reported a 5% increase in total revenues to $212.6 million for Q2 2024. Net income from continuing operations was $20.6 million, or $0.84 per diluted share, compared to $28.0 million, or $1.14 per diluted share, for the same period last year. The revenue increase was driven by higher rental operations and sales revenues, particularly in the modular business, while portable storage and TRS-RenTelco experienced demand challenges.

McGrath RentCorp reported a 15% increase in total revenues to $187.8 million and net income of $22.8 million, or $0.93 per diluted share, compared to the first quarter of 2023. Strong modular and portable storage performance drove the revenue growth, while TRS-RenTelco experienced demand challenges.

McGrath RentCorp reported a 21% increase in total revenues for Q4 2023, reaching $221.6 million. Net income was $32.0 million, or $1.30 per diluted share. The company saw strong performance in its modular and portable storage segments, driven by the Vesta Modular acquisition and broad-based rental strength.

McGrath RentCorp reported a 40% increase in total revenues to $243.5 million for the third quarter of 2023. Net income from continuing operations rose to $40.4 million, or $1.65 per diluted share, compared to $27.1 million, or $1.11 per diluted share, in the same quarter of the previous year. The company's modular segment drove rental revenue growth, supported by recent acquisitions and organic expansion.

McGrath RentCorp reported a 32% increase in total revenues, reaching $203.0 million for the quarter ended June 30, 2023. Net income from continuing operations was $28.0 million, or $1.14 per diluted share, compared to $23.5 million, or $0.96 per diluted share, for the same period in 2022. The company's modular segment drove the rental revenue growth, supported by recent acquisitions.

McGrath RentCorp reported a 19% increase in total revenues, reaching $173.2 million for the quarter ended March 31, 2023. Net income stood at $71.7 million, or $2.92 per diluted share, significantly higher than the previous year, boosted by a net gain on the sale of the Adler Tanks business. The company's continuing operations saw a 31% increase in total revenues, amounting to $163.7 million.

McGrath RentCorp's Q4 2022 total revenues increased by 20% to $210.9 million compared to Q4 2021. Net income increased to $39.6 million, or $1.62 per diluted share, compared to $28.4 million, or $1.16 per diluted share, for the fourth quarter of 2021.

McGrath RentCorp announced total revenues for Q3 2022 of $200.5 million, a 16% increase compared to Q3 2021. The company reported a net income of $30.6 million, or $1.25 per diluted share, for Q3 2022, compared to a net income of $23.3 million, or $0.95 per diluted share, for Q3 2021.