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Dec 31, 2024
McGrath RentCorp Q4 2024 Earnings Report
McGrath RentCorp reported strong revenue growth in Q4 2024, with total revenues increasing 10% year-over-year.
Key Takeaways
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.
Total revenue increased 10% to $243.7 million.
Net income rose to $38.9 million, up from $32.0 million in Q4 2023.
Mobile Modular rental revenue grew 8%, while Portable Storage and TRS-RenTelco declined.
Adjusted EBITDA increased 5% to $92.0 million.
Revenue by Segment
Forward Guidance
McGrath RentCorp expects continued revenue growth in 2025, projecting total revenue between $920 million and $970 million, with an Adjusted EBITDA range of $345 million to $360 million.
Positive Outlook
- Total revenue projected between $920 million and $970 million.
- Adjusted EBITDA expected between $345 million and $360 million.
- Mobile Modular continues to see strong rental revenue growth.
- Operational improvements and pricing optimizations are driving profitability.
- Dividend increase marks 34 consecutive years of growth.
Challenges Ahead
- Portable Storage segment continues to face weak demand.
- TRS-RenTelco experiencing lower average rental equipment on rent.
- Lower commercial construction activity affecting rental revenues.
- Gross rental equipment capital expenditures expected to decline.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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