Recap: McGrath RentCorp Q2 Earnings

Shares of McGrath RentCorp MGRC moved higher by 5.35% in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 16.46% over the past year to $0.92, which beat the estimate of $0.40.

Revenue of $137,673,000 rose by 8.03% year over year, which beat the estimate of $113,500,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Q3 revenue expected between $140,000,000 and $160,000,000.

How To Listen To The Conference Call

Date: Jul 29, 2020

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/qzh86gjm

Price Action

52-week high: $83.95

Company's 52-week low was at $44.32

Price action over last quarter: Up 6.91%

Company Description

McGrath RentCorp is a rental company. It is comprised of four reportable business segments: Modular building and portable storage segment (Mobile Modular), Electronic test equipment segment (TRS-RenTelco), Containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks) and Classroom manufacturing division selling modular classrooms in California (Enviroplex). The company generates its revenues primarily from the rental of its equipment on operating leases with sales of equipment occurring in the normal course of business.