Financial Data and Key Metrics Changes - Total revenues from continuing operations increased 10% to $267 million and adjusted EBITDA increased 13% to $104 million for Q3 2024 [17] - The company received a $180 million payment from WillScot Mobile Mini due to the termination of the merger agreement, resulting in a net income contribution of $104 million or $4.21 per diluted share [17][18] - Year-to-date net cash provided by operating activities was $338 million compared to $119 million in the prior year, primarily due to the $180 million payment received [22] Business Line Data and Key Metrics Changes - Mobile Modular rental revenues grew 9% and sales revenues grew 14%, with adjusted EBITDA increasing 23% to $71.4 million [18] - Portable Storage rental revenues declined by 11% to $17 million, with adjusted EBITDA decreasing by 10% to $10.8 million [20] - TRS-RenTelco rental revenues decreased by 10% to $34.8 million, with adjusted EBITDA also down 10% to $18.9 million [20] Market Data and Key Metrics Changes - Utilization for Mobile Modular ended the quarter at 76.5%, while Portable Storage utilization was 62.8% [7][20] - Average rental equipment on rent decreased by 12% in Portable Storage, reflecting weaker demand conditions [20] - The overall demand environment for Portable Storage and TRS businesses is expected to remain soft into 2025 [11] Company Strategy and Development Direction - The company aims to continue growing its modular business both organically and through strategic acquisitions, with a focus on expanding geographic coverage [12][14] - Management emphasized the importance of maintaining pricing discipline and robust processes to support revenue growth [12] - The company is committed to building long-term shareholder value through disciplined capital allocation and consistent execution [25] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about potential demand improvements as interest rates are projected to ease [11] - The company is positioned to provide space and storage solutions in the aftermath of recent hurricanes, although new business opportunities may be limited in the short term [10] - Management acknowledged the uncertainty in the overall demand environment but remains positive about long-term growth prospects [12][14] Other Important Information - The company incurred $39 million in transaction costs related to the terminated merger agreement, which were excluded from selling and administrative expenses [22] - The total fleet value based on original cost of equipment was $357 million at the end of September, down $11 million from the second quarter [21] Q&A Session Summary Question: Performance of Mobile Modular in commercial and education markets - Management indicated that education rentals were up 10% and commercial rentals were up 8%, showing balanced performance [28] Question: Pricing versus volume dynamics - Management noted strong pricing dynamics and anticipated that this would continue into next year, with a healthy pricing environment [30][31] Question: Quoting activity and deliveries in Portable Storage - Management reported a decline in quoting opportunities and bookings in Portable Storage, expecting fourth-quarter performance to be lower than the third quarter [34] Question: Impact of semiconductor and 5G on TRS - Management highlighted ongoing weakness in the semiconductor market and a slowdown in wireless services, while wired communications remained strong [38] Question: Application of the $180 million cash inflow - Management stated that the funds would provide flexibility for capital allocation, including organic investments, M&A opportunities, and debt reduction [40][42]

McGrath (MGRC) came out with quarterly earnings of $1.87 per share, beating the Zacks Consensus Estimate of $1.39 per share. This compares to earnings of $1.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 34.53%. A quarter ago, it was expected that this business-to-business rental company would post earnings of $1.25 per share when it actually produced earnings of $1.20, delivering a surprise of -4%.Over the last four quart ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITY AND EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITY AND EXCHANGE ACT OF 1934 Commission file number 000-13292 McGRATH RENTCORP (Exact name of registrant as specified in its Charter) California 94-2579843 (State or other jurisdiction of incorporation or organization) (I.R. ...

Exhibit 99.1 McGrath | 5700 Las Positas Road, Livermore, CA 94551 | mgrc.com Contact Keith E. Pratt EVP & Chief Financial Officer 925-606-9200 PRESS RELEASE FOR RELEASE October 24, 2024 McGrath Announces Results for Third Quarter 2024 Livermore, CA - October 24, 2024 – McGrath RentCorp ("McGrath" or the "Company") (Nasdaq: MGRC), a leading business-to-business rental company in North America, today announced total revenues from continuing operations for the quarter ended September 30, 2024 of $266.8 million ...

The company won't be acquired after all. In its 45-year history, McGrath RentCorp (MGRC -3.13%) has had many encouraging pieces of news to report to its shareholders and the world at large. Unfortunately for the business-to-business equipment rental specialist, its top news item on Wednesday wasn't so positive. On the back of that, investors traded out of the stock to leave it with an over 3% decline in price. This was a more pronounced slide than the 0.3% dip of the S&P 500 index on the day. Merger deal te ...

McGrath, which belongs to the Zacks Financial - Leasing Companies industry, posted revenues of $212.61 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.13%. This compares to year-ago revenues of $203.03 million. The company has topped consensus revenue estimates four times over the last four quarters. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves ...

operations. Changes in accounting standards and their application may have a significant effect on our reported results on a going-forward basis and may also affect the recording and disclosure of previously reported transactions. New accounting pronouncements and varying interpretations of accounting pronouncements have occurred in the past and may occur in the future. Changes to existing rules or the questioning of current practices may adversely affect our reported financial results or the way we conduct ...

10 Management uses Adjusted EBITDA as a supplement to GAAP measures to further evaluate period-to-period operating performance, compliance with financial covenants in the Company's revolving lines of credit and senior notes and the Company's ability to meet future capital expenditure and working capital requirements. Management believes the exclusion of non-cash charges and non-recurring transactions, including share-based compensation, transaction costs and gains on property sales is useful in measuring th ...

Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements. The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the n ...

U.S. Silica Holdings, Inc. has agreed to be acquired by affiliates of Apollo for $15.50 per share in cash. NEW YORK, June 13, 2024 /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating potential claims related to the below-listed proposed mergers. Kuehn Law may seek additional disclosures or other relief on behalf of the shareholders of these companies. McGrath RentCorp has agreed to be acquired by WillScot Mobile Holdings Corp. Under the terms of the offer, McGrath shareholde ...