McGrath RentCorp Q4 2023 Earnings Report
Key Takeaways
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.
Total revenues increased by 21% to $221.6 million.
Rental revenues increased by 19% to $123.6 million.
Mobile Modular rental revenues grew by 37%, significantly influenced by the Vesta Modular acquisition.
Portable storage rental revenues increased by 13%.
McGrath RentCorp
McGrath RentCorp
McGrath RentCorp Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in this report, but highlighted the pending transaction with WillScot Mobile Mini and a focus on disciplined operational execution.
Revenue & Expenses
Visualization of income flow from segment revenue to net income