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Dec 31, 2023
McGrath RentCorp Q4 2023 Earnings Report
McGrath RentCorp's Q4 2023 performance was marked by revenue growth and strategic advancements.
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
Revenue by Segment
Mobile Modular Revenue
CapyFin.comPortable Storage Revenue
CapyFin.comTRS-RenTelco Revenue
CapyFin.comEnviroplex Revenue
CapyFin.com 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