McGrath RentCorp reports results for the quarter ended in September 30 - Earnings Summary

Mcgrath Rentcorp

27/10/2024 15:00

* McGrath RentCorp  MGRC.OQ  reported quarterly adjusted
earnings
of $1.87​​ per share for the quarter ended September 30, higher
than the same quarter last year, when the company reported EPS
of $1.49.  The mean expectation of two analysts for the quarter
was for earnings of $3.83 per share. Wall Street expected
results to range from $1.15  to $6.50 per share.
    * Revenue rose 9.5% to $266.76 million from a year ago;
analysts
expected $227.76 million. 
    * McGrath RentCorp's reported EPS for the quarter was
$6.08​.
    * The company reported quarterly net income of $149.32
million.
    * McGrath RentCorp shares had fallen by 0.1% this
quarter and
lost 12.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 201.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 1 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the business
support
services peer group is also "strong buy"

Wall Street's median 12-month price target for McGrath RentCorp
is $127.50 
This summary was machine generated from LSEG data October 27 at
03:00 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
 Sep. 30 2024      3.83           1.87           Missed
 Jun. 30 2024      1.25           0.84           Missed
 Mar. 31 2024      0.73           0.54           Missed
 Dec. 31 2023      1.37           1.30           Missed