McGrath RentCorp Files Q2 2024 10-Q

TL;DR

MCGRATH RENTCORP 10-Q FILED: Q2 2024 RESULTS ARE IN.

AI Summary

McGrath RentCorp filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the company, which operates in the equipment rental and leasing sector. Specific segment revenues and financial positions are reported, reflecting the company's ongoing business activities.

Why It Matters

This filing provides investors and analysts with the latest financial snapshot of McGrath RentCorp, crucial for understanding the company's performance and outlook in the equipment rental market.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20240725 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• MCGRATH RENTCORP (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240725 (date) — Date of filing
• 7359 (number) — Standard Industrial Classification code for Equipment Rental & Leasing

FAQ

Filing Documents

• mgrc-20240630.htm (10-Q) — 3178KB
• mgrc-ex15_1.htm (EX-15.1) — 5KB
• mgrc-ex31_1.htm (EX-31.1) — 17KB
• mgrc-ex31_2.htm (EX-31.2) — 17KB
• mgrc-ex32_1.htm (EX-32.1) — 11KB
• mgrc-ex32_2.htm (EX-32.2) — 11KB
• 0000950170-24-086480.txt ( ) — 10144KB
• mgrc-20240630.xsd (EX-101.SCH) — 1120KB
• mgrc-20240630_htm.xml (XML) — 1940KB

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS Management cautions that forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause our actual results to differ materially from those projected in such forward-looking statements. Further, our future business, financial condition and results of operations could differ materially from those anticipated by such forward-looking statements and are subject to risks and uncertainties as set forth under "Risk Factors" in this Form 10-Q. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Forward-looking statements are made only as of the date of this Form 10-Q and are based on management's reasonable assumptions, however these assumptions can be wrong or affected by known or unknown risks and uncertainties. No forward-looking statement can

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Board of Directors and Shareholders McGrath RentCorp Results of review of interim financial statements We have reviewed the accompanying condensed consolidated balance sheet of McGrath RentCorp (a California Corporation) and subsidiaries (the "Company") as of June 30, 2024, and the related condensed consolidated statements of income, comprehensive income, and shareholders' equity, for the three-month and six-month periods ended June 30, 2024 and 2023, cash flows for the six month periods ended June 30, 2024 and 2023, and the related notes (collectively referred to as the "interim financial statements"). Based on our reviews, we are not aware of any material modifications that should be made to the accompanying interim financial statements for them to be in conformity with accounting principles generally accepted in the United States of America. We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) ("PCAOB"), the consolidated balance sheet of the Company as of December 31, 2023, and the related consolidated statements of income, comprehensive income, shareholders' equity, and cash flows for the year then ended (not presented herein); and in our report dated February 21, 2024, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying condensed consolidated balance sheet as of December 31, 2023, is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived. Basis for review results These interim financial statements are the responsibility of the Company's management. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with U.S. federal securities laws and the applicable rules a

View Full Filing

View this 10-Q filing on SEC EDGAR