McGrath Rentcorp (MGRC) Misses Q4 EPS by 6c

McGrath Rentcorp (NASDAQ: MGRC) reported Q4 EPS of $0.40, $0.06 worse than the analyst estimate of $0.46. Revenue for the quarter came in at $105.3 million versus the consensus estimate of $108.06 million.

For the full-year 2017, the Company expects:

• Rental revenues to increase between 1% and 3% over 2016.
• Sales revenues to be comparable to 2016.
• Rental equipment depreciation expense to be between $67 and $69 million.
• “Other” direct costs of rental operations, primarily for rental equipment maintenance and repair, to be between $62 and $64 million.
• Selling and administrative costs to be between $110 and $112 million.
• Operating profit to increase between 3% and 5% over 2016.
• Full year interest expense to be approximately $12 million.
• Effective tax rate to be 40%, excluding any potential impact from ASU 2016-09.
• Diluted share count to be between 24.1 and 24.3 million shares.

For earnings history and earnings-related data on McGrath Rentcorp (MGRC) click here.

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