MGRC Earnings Prediction
The chart below shows how MGRC performed 10 days before and after its earnings report, based on data from the past quarters. Typically, MGRC sees a +0.01% change in stock price 10 days leading up to the earnings, and a +2.70% change 10 days following the report. On the earnings day itself, the stock moves by +0.08%. This data can give you a slight idea of what to expect for the next quarter's release.
MGRC Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
266.76M
9.55%
25.47%
Gross Margin
54.72%
-0.27%
-7.36%
Operating Margin
24.38%
9.28%
12.14%
Net Margin
55.97%
237.58%
477.01%
EPS
6.08
268.48%
623.81%
No Data Available
MGRC Earnings Analysis
Mcgrath Rentcorp Corporation (MGRC.O) Earnings Conference Call
Positive
Revenue and EBITDA Growth: Total company revenues increased 10% and adjusted EBITDA increased 13%.
Business Performance Overview: The Modular business performed very well, while our Portable Storage and TRS businesses experienced market demand headwinds during the quarter.
Rental and Sales Revenue Growth: Mobile Modular had a strong quarter with rental revenues growing 9% and sales revenues growing 14%.
Business and Education Growth: Both our commercial business and our education rentals grew during the quarter.
EBITDA and Revenue Growth: Adjusted EBITDA increased 23% to $71.4 million, and total revenues increased 13% to $191.4 million.
Negative
Rental Revenue Decline: Rental revenues declined by 11% in the quarter from a year ago.
Demand Softness Impact: The company experienced delays and softness in the demand environment, impacting overall performance.
Selling and Administrative Expenses Increase: Total McGrath selling and administrative expenses increased by $0.8 million to $49.3 million.
Rental Revenue Decline: Rental revenues for the quarter decreased 11% to $17 million, reflecting ongoing industry-wide slowdown in demand.
Utilization Rate Decline: Average utilization for the quarter was 62.8% compared to 76.5% a year ago.
MGRC FAQs
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MGRC Earning Call Sentiment
McGrath RentCorp (MGRC) Q3 2024 Earnings Call Transcript
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MGRC.O
-1.32%Positive
The earnings call showed mixed results. Strong performance in the Mobile Modular segment boosted revenue and EBITDA, but declines in Portable Storage and TRS-RenTelco segments raised concerns. The refusal to provide future guidance is a negative indicator, offsetting positive elements like the $180 million termination fee and stable leverage. The Q&A highlighted positive dynamics in education and commercial sectors but also noted prolonged downturns and unclear management responses on capital allocation. Given the company's market cap, the stock is likely to experience a neutral movement within the -2% to 2% range.