McGrath Rentp(US:MGRC)2024-07-26 15:53McGrath Overview - McGrath RentCorp will be acquired by WillScot Mobile Mini for $3.8 billion[13] - McGrath has a diverse customer base of approximately 22,000[16, 18] - The company's full year 2023 revenue was $832 million and adjusted EBITDA was $322 million[16] - McGrath has a strong shareholder return with a CAGR of 17% based on 1984 IPO through 12/31/23 assuming reinvestment of dividends[16] Q2 2024 Performance - Total revenues for Q2 2024 were $213 million[18] - Total adjusted EBITDA for Q2 2024 was $84 million[20] - Mobile Modular contributed 73% to total revenues and 65% to total adjusted EBITDA[19, 21] - Portable Storage contributed 11% to total revenues and 13% to total adjusted EBITDA[19, 21] - TRS-RenTelco contributed 16% to total revenues and 22% to total adjusted EBITDA[19, 21] TRS-RenTelco Performance - TRS-RenTelco's Q2 2024 quarterly revenues were $33 million[28] - TRS-RenTelco's rental equipment (at 6/30/24 OAC) was $368 million[28] - TRS-RenTelco's rental revenues decreased by 11% year over year due to reduced fleet size[39]