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Jun 30, 2024
McGrath RentCorp Q2 2024 Earnings Report
McGrath RentCorp's financial performance for Q2 2024 was reported, showing increased revenues and challenges in specific segments.
Key Takeaways
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.
Total revenues increased by 5% to $212.6 million.
Rental revenues increased by 3% to $121.2 million.
Net income from continuing operations was $20.6 million, or $0.84 per diluted share.
Adjusted EBITDA increased by 9% to $83.7 million.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the press release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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