RenTelco

May 2, 2018

McGrath RentCorp up 2% post Q1 results May 2, 2018 12:12 PM ET McGrath RentCorp ( MGRC +1.7%) reports Q1 revenue growth of 10.8% Y/Y to $105.09M. Segment sales: Mobile Modular $53.9M (+11.6% Y/Y); TRS-  RenTelco $28M (+10.7% Y/Y); Adler Tanks $21.2M (+3.4% Y/Y) & Enviroplex $2M (+150% Y/Y). Total rental revenues $74.3M (+9% Y/Y); Mobile Modular $37M (+10% Y/Y); TRS- RenTelco $21.5M (+8.6% Y/Y) & Adler Tanks $15.7M (+7.5% Y/Y). Average rental equipment: Mobile Modular $746.2M (+0.2% Y/Y); TRS-  RenTelco $264.3M (+7.4% Y/Y) & Adler Tanks $308.9M (+0.2% Y/Y). Average monthly rental rate: Mobile Modular 2.14%; TRS-  RenTelco 4.33% & Adler Tanks 2.94%. Adj. EBITDA of $42.8M (+18% Y/Y); Dividend of  $0.34 (+31% Y/Y) 2018 Outlook: Reaffirmed operating profit to increase 11-15%.