McGrath Rentcorp (MGRC) Tops Q3 EPS by 13c, Revenues Beat; Offers 4Q Revenue Mid-Point Guidance Above Consensus

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Go back to McGrath Rentcorp (MGRC) Tops Q3 EPS by 13c, Revenues Beat; Offers 4Q Revenue Mid-Point Guidance Above Consensus

McGrath RentCorp Announces Results for Third Quarter 2020

October 29, 2020 4:01 PM EDT

LIVERMORE, Calif., Oct. 29, 2020 (GLOBE NEWSWIRE) -- McGrath RentCorp (NASDAQ: MGRC) (the Company), a diversified business-to-business rental company, today announced total revenues for the quarter ended September 30, 2020 of $156.4 million, a decrease of 10%, compared to the third quarter of 2019. The Company reported net income of $28.1 million, or $1.15 per diluted share, for the third quarter of 2020, compared to net income of $32.5 million, or $1.32 per diluted share, for the third quarter of 2019.

THIRD QUARTER 2020 COMPANY HIGHLIGHTS:

Income from operations decreased 20%... More