NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Hertz Global Holdings, Inc. (NASDAQ: HTZ) breached their fiduciary duties to shareholders. If you currently own Hertz stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about yo. ...

Company Overview - McGrath RentCorp's total revenue for 2024 was $911 million [9] - Adjusted EBITDA for 2024 was $352 million [9] - The company has a shareholder return CAGR of 16% based on 1984 IPO through 12/31/24 [9] - 99% of total revenues are from North America [9] Business Segment Performance (2024) - Mobile Modular accounted for 67% of total revenues and 75% of total Adjusted EBITDA [11] - Portable Storage accounted for 12% of total revenues and 10% of total Adjusted EBITDA [11] - TRS-RenTelco accounted for 21% of total revenues and 15% of total Adjusted EBITDA [11] Q3 2025 Highlights - Total revenues decreased by 4% to $256.4 million [31] - Adjusted EBITDA decreased by 7% to $96.4 million [31] - Rental Operations revenues increased 4% to $178.1 million [31] - TRS-RenTelco rental revenues increased 9% [30] 2025 Financial Outlook - Total Revenues are projected to be between $935 million and $955 million [47] - Adjusted EBITDA is projected to be between $350 million and $357 million [47] - Gross Rental Equipment Capital Expenditures are projected to be between $120 million and $125 million [47]

Core Insights - Wall Street analysts expect Avis Budget Group (CAR) to report quarterly earnings of $8.11 per share, reflecting a year-over-year increase of 22% [1] - Revenues are projected to be $3.48 billion, which is a slight increase of 0.1% from the same quarter last year [1] - The consensus EPS estimate has been revised 68.9% higher in the last 30 days, indicating a significant reevaluation by analysts [1] Revenue Estimates - Analysts project 'Geographic Revenue - International' to reach $843.11 million, indicating a year-over-year change of +0.4% [4] - The estimated 'Geographic Revenue - Americas' is $2.64 billion, showing no change from the previous year [4] Cost Estimates - 'Americas - Per-Unit Fleet Costs per Month' is expected to be $343.5, down from $384.0 in the previous year [5] - 'International - Per-Unit Fleet Costs per Month' is estimated at $290.8, compared to $316.0 last year [5] Rental Days and Utilization - 'International - Rental Days' is projected at 13,445 days, down from 13,864 days reported last year [6] - 'Americas - Revenue per Day, excluding exchange rate effects' is expected to be $74.86, compared to $75.61 in the same quarter last year [6] - 'Americas - Vehicle Utilization' is estimated at 72.0%, up from 71.5% last year [7] - 'International - Vehicle Utilization' is expected to be 73.0%, down from 73.7% reported last year [7] Fleet Estimates - 'Americas - Average Rental Fleet' is projected to be 532,693, slightly up from 531,261 last year [8] - 'Total - Rental Days' is expected to be 48,708 days, down from 48,786 days last year [8] - 'International - Average Rental Fleet' is estimated at 200,342, down from 204,580 last year [8] - The consensus for 'Total - Average Rental Fleet' is 733,035, compared to 735,841 reported last year [9] Market Performance - Avis Budget shares have decreased by 4% in the past month, contrasting with a +1.1% change in the Zacks S&P 500 composite [9] - The company holds a Zacks Rank 5 (Strong Sell), indicating expectations of underperformance in the near future [10]

Core Points - U-Haul has initiated a disaster relief program offering 30 days of free self-storage and U-Box container usage across all 90 Company stores in Arizona to assist residents affected by recent powerful storms [1][2] - The storms have caused significant damage in various areas, including Tempe, where a microburst resulted in over 100 people being displaced, and flooding in Gila County and Tucson [2] - U-Haul's Area District Vice President, Joe Krueger, emphasized the company's commitment to helping local communities during this crisis [2] Company Operations - The free self-storage and U-Box offer is available for new rentals and is subject to availability at each location [2] - U-Haul operates over 24,000 rental locations across the U.S. and Canada, with a fleet of 197,500 trucks and 1,093,000 rentable storage units [6] - The company is recognized as the third largest self-storage operator in North America, providing 94.9 million square feet of self-storage space [6] Community Engagement - U-Haul is an official American Red Cross Disaster Responder, highlighting its role in aiding communities during emergencies [5] - The company has set up multiple regional offices to facilitate access to its disaster relief program, with specific contact information provided for various locations [3][4][5]

Core Points - Black Diamond Group Limited will release its 2025 third quarter results after market close on October 30, 2025, followed by a conference call on October 31, 2025 [2] - The conference call will feature Trevor Haynes, Chairman and CEO, and Toby LaBrie, EVP and CFO, discussing the financial results and answering questions from analysts and investors [2] Company Overview - Black Diamond is a specialty rentals and industrial services company operating in Canada, the United States, and Australia, with two main business units: Modular Space Solutions (MSS) and Workforce Solutions (WFS) [4] - MSS operates through brands like BOXX Modular, CLM, MPA Systems, and Schiavi, offering a large rental fleet of modular buildings to various sectors including construction, industrial, education, financial, and government [5] - WFS provides a rental fleet of modular accommodation assets and includes LodgeLink, a digital marketplace for crew accommodation and travel logistics, addressing the unique challenges of crew travel [6][7]

Core Insights - Hertz Global Holdings Inc is launching a fully online car-buying platform named HertzCarSales.com, allowing customers to browse inventory and purchase vehicles online [1] Company Developments - The new platform aims to enhance customer experience by providing a seamless online purchasing process [1] - This initiative reflects Hertz's strategy to adapt to changing consumer preferences towards digital solutions in the automotive market [1] Industry Trends - The move towards online car sales is indicative of a broader trend in the automotive industry, where digital platforms are becoming increasingly important for consumer engagement and sales [1] - Companies in the automotive sector are increasingly investing in technology to streamline the buying process and meet customer demands for convenience [1]

Group 1 - Avis Budget Group (NASDAQ: CAR) has seen its share price double over the past year, indicating strong performance [1] - The company's balance sheet is highly leveraged, suggesting that its fair value is sensitive to changes in the used car market [1] - The analyst has over fifteen years of experience in making contrarian bets based on macro views and stock-specific turnaround stories [1]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced and qualified news journalists who produce independent content [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The news team delivers insights across various sectors including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

Core Insights - Hertz Global reported a significant operational turnaround, achieving positive Adjusted Corporate EBITDA for the first time in nearly two years, with results surpassing consensus expectations [1][5][6] - Despite improvements, the company remains overall loss-making, with GAAP revenue declining year-over-year [1][6] Financial Performance - Non-GAAP loss per share was $0.34, better than the estimated loss of $0.41, while GAAP revenue was $2,185 million, exceeding analyst estimates of $2,156.98 million but down 7.1% from $2,353 million in Q2 2024 [1][2] - Adjusted Corporate EBITDA was $1 million, a significant improvement from a loss of $460 million in the previous year [2][6] - Net loss (GAAP) narrowed from $865 million in Q2 2024 to $294 million in Q2 2025, with adjusted net loss shrinking 76% year-over-year [6] Operational Highlights - Vehicle utilization increased to 83%, up 3 percentage points from the prior year, despite a 6% drop in fleet size [2][8] - Depreciation per unit per month decreased by 57.8% to $251, well below the target of $300, supported by a younger fleet [2][7] - Direct operating expenses fell 3% year-over-year, and customer satisfaction improved, as indicated by an 11-point rise in the Net Promoter Score [9] Strategic Focus - The company is concentrating on fleet management, cost discipline, and technological upgrades, including partnerships with ride-share services and investments in digital tools [4][10] - Management plans to maintain tight fleet levels while focusing on improving utilization and margins rather than expanding volume [12] Future Outlook - Management anticipates a "sizable profit" and positive net income in the next quarter, with a target of achieving positive EBITDA over $1 billion by fiscal 2027 [12][13] - The company has secured vehicle purchases at pre-tariff prices, mitigating risks from rising vehicle costs [12]

Financial Data and Key Metrics Changes - Total revenues increased by 11% to $235.6 million and adjusted EBITDA increased by 3% to $86.5 million [17] - Adjusted EBITDA for Mobile Modular decreased by 1% to $53.1 million despite revenue growth [17] - Average fleet utilization decreased to 73.7% from 78.4% a year earlier [18] - Interest expense decreased by $5.2 million to $7.8 million due to lower average interest rates and debt levels [22] Business Line Data and Key Metrics Changes - Mobile Modular total revenues increased by 8% to $156 million, with rental revenues up by 5% and sales revenues up by 13% [17] - Portable Storage rental revenues decreased by 5% year over year but improved by 5% sequentially from the first quarter [8][20] - TRS RenTelco rental revenues grew by 7%, with average utilization improving to 64.8% from 56.5% a year ago [21] Market Data and Key Metrics Changes - The Architecture Billings Index (ABI) showed ongoing softness, but quote activity remained healthy [6] - Construction backlogs grew slightly in June, indicating improved activity levels [12] Company Strategy and Development Direction - The company is focused on expanding its modular solutions capabilities and geographic presence [13] - Two tuck-in acquisitions were completed to support modular growth strategy [11] - The company aims to enhance capabilities for larger and more complex modular building rentals and sales [14] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about economic conditions improving in the next two quarters [15] - The uncertain market conditions earlier in the year have not deteriorated significantly, with slight improvements observed [12] - The company upwardly adjusted its full-year financial outlook, expecting total revenue between $925 million and $960 million [23] Other Important Information - The company is investing in technology upgrades and strategic hiring to support long-term growth [72] - The benefit to free cash flow from new federal tax legislation is estimated to be between $10 million and $15 million [42] Q&A Session Summary Question: Can you provide more detail on the balance of third and fourth quarter EBITDA? - The company expects adjusted EBITDA to be broadly similar in Q3 and Q4, with a more balanced contribution of sales gross profit [28] Question: What is the visibility on the Mobile Modular segment? - Visibility is somewhat fluid due to current demand environment, with ongoing assessments of the pipeline [29] Question: How is the education business expected to perform this year? - The education business is expected to finish the year strong, with good order volume [31] Question: What factors could affect the current guidance range? - Sales activity can significantly impact the guidance, with a cautious approach taken for the second half of the year [35] Question: What is the impact of new federal tax legislation on free cash flow? - The estimated benefit to free cash flow is between $10 million and $15 million, though not a massive impact [42] Question: Can you provide an update on the pricing gap between current spot rates and existing rates? - The gap remains around 39% lower for existing rates compared to new shipments, with spot rates generally stable [47] Question: What is the outlook for portable storage demand? - There are encouraging signs of improvement, with increased quote volumes and unit shipments [48] Question: Can you discuss the geographical focus of new sales hires? - New hires are aimed at increasing geographic coverage and supporting both commercial and education business [52] Question: How is Enviroplex performing? - Enviroplex is performing well, with strong growth and improved margins, contributing positively to the overall performance [61]