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 ...

Core Viewpoint - The Zacks rating system effectively utilizes earnings estimate revisions to predict near-term stock price movements, providing a more objective basis for investment decisions compared to traditional Wall Street ratings [1][3][10]. Earnings Estimate Revisions - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements, largely due to institutional investors' reliance on these estimates for valuation [2][12]. - Tracking earnings estimate revisions can be a rewarding strategy for investment decisions, as empirical research shows a strong correlation between these revisions and stock movements [3][14]. Company-Specific Insights - McGrath (MGRC) has been upgraded to a Zacks Rank 2 (Buy), reflecting an upward trend in earnings estimates, which is a significant factor influencing stock prices [9][10]. - The Zacks Consensus Estimate for McGrath has increased by 1.5% over the past three months, indicating a positive outlook for the company's earnings [14]. - The upgrade suggests an improvement in McGrath's underlying business, which could lead to higher stock prices as investors respond to this trend [11][12]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a proven track record of generating an average annual return of +25% for Zacks Rank 1 stocks since 1988 [13]. - The system maintains a balanced distribution of 'buy' and 'sell' ratings, ensuring that only the top 20% of stocks are highlighted for their superior earnings estimate revisions, making them strong candidates for market-beating returns [15].

Mergers and Acquisitions - U.S. Silica Holdings, Inc. has agreed to be acquired by affiliates of Apollo for $15.50 per share in cash [1] - McGrath RentCorp has agreed to be acquired by WillScot Mobile Holdings Corp, offering shareholders $123.00 in cash or 2.8211 shares of WillScot common stock for each share of McGrath common stock [3] - HashiCorp, Inc. has entered into a definitive merger with IBM, where HashiCorp shareholders will receive $35 per share in cash [4] - Spar Group, Inc. has agreed to merge with Highwire Capital, with Spar Group shareholders set to receive $2.50 per share upon completion of the transaction [6] Legal Investigations - Kuehn Law, PLLC is investigating potential claims related to the proposed mergers, focusing on whether the Boards acted to maximize shareholder value and disclosed material information [2][6] - Shareholders are encouraged to get involved to contribute to the integrity and fairness of the financial markets [7]

NEW YORK, June 11, 2024 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: U.S. Silica Holdings, Inc. (NYSE: SLCA)'s sale to affiliates of Apollo for $15.50 per share in cash. If you are a U.S. Silica shareholder, click here to learn more about your rights and options. Halper Sadeh LLC may seek increased consideration for shareholde ...

NEW YORK, June 11, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating McGrath RentCorp (Nasdaq: MGRC), relating to its proposed sale to WillScot Mobile Mini Holdings Corp. Under the terms of the agreement, MGRC shareholders will receive either $123.00 in cash o ...

McGrath (MGRC) came out with quarterly earnings of $0.93 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.89 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 27.40%. A quarter ago, it was expected that this business-to-business rental company would post earnings of $1.37 per share when it actually produced earnings of $1.30, delivering a surprise of -5.11%.Over the last four qu ...

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 March 31, 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) (State or other jurisdiction of incorporation or organization) California 94-2579843 (I.R.S. E ...

Exhibit 99.1 Contact Keith E. Pratt EVP & Chief Financial Officer 925-606-9200 PRESS RELEASE McGrath Announces Results for First Quarter 2024 Livermore, CA - April 25, 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 March 31, 2024 of $187.8 million, an increase of 15% compared to the first quarter of 2023. The Company reported net income from co ...