McGrath RentCorp reports results for the quarter ended in March - Earnings Summary

Mcgrath Rentcorp

26/04/2024 24:07

* McGrath RentCorp  MGRC.OQ  reported quarterly adjusted
earnings
of 54 cents​​ per share for the quarter ended in March, higher
than the same quarter last year, when the company reported EPS
of 47 cents.  The mean expectation of two analysts for the
quarter was for earnings of 73 cents per share. Wall Street
expected results to range from 69 cents to 77 cents per share.
    * Revenue rose 14.7% to $187.83 million from a year ago;
analysts
expected $172.08 million. 
    * McGrath RentCorp's reported EPS for the quarter was 93
cents​.
    * The company reported quarterly net income of $22.85
million.
    * McGrath RentCorp shares had fallen by 12.0% this
quarter and
lost 9.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * 
    * Wall Street's median 12-month price target for McGrath
RentCorp
is $117.00 

This summary was machine generated from LSEG data April 25 at
11:07 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.73           0.54           Missed
 Dec. 31 2023      1.37           1.30           Missed
 Sep. 30 2023      1.25           1.49           Beat
 Jun. 30 2023      0.99           1.14           Beat