MGRC - Earnings call 3 2023 | McGrath RentCorp

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the McGrath RentCorp Third Quarter 2023 Earnings Call. [Operator Instructions] This conference call is being recorded today, Thursday, October 26, 2023.Before we begin, note that the matters the company management will be discussing today that are not statements of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our full year 2023 financial outlook, as well as statements relating to the company's expectations, strategies, prospects, or targets. These forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties that could cause our actual results to differ materially from those projected.Important factors that could cause actual results to differ materially from the company's expectations are disclosed under Risk Factors in the company's Form 10-K and other SEC filings.

Forward-looking statements are made only as of the date hereof, except as otherwise required by law. on to issued forward-looking filed over now quarter Mr. today, SEC Keith earnings Financial obligation the addition with Chief ended no its Pratt, Chief the release and the Executive today turn to press the release Joe September assume XX, update for will will statements.In any call to the Form XXXX.Speaking We XX-Q X-K be the Hanna, Form Officer.I company and also Officer; sir. ahead, go Hanna,

Joseph Hanna

our acquired work Travis. total gone everyone. third Modular us XXXX progress Vesta operating to structure. Modular changes afternoon, you. to We Progress associated the team on on results X other, have our a third our focus reported our Mobile simultaneously further customers, well.During delivered McGrath extremely is fully joining our and Thank you continuing for aspects on year, shareholders, each business. our what for growth now Vesta business. Tank All focus increased third the EBITDA organization team our Good all Adler February we on into Thank into third reflect key the XX%, strategic integration call and quarter then, adjusted schedule. members and with consecutive Since milestones well. Modular we've executed and impressive on year. team been the we delivery.As integrated with quarter, have coverage on in your sold to a matters and quarter your business. integrating revenues reminder, today.Our this operations our incredible and Vesta focused XX% earnings completed again, sincere hard this and from on our quarter.Once teams our for My very XX%, Rental revenues you increased thank increased work

achieving our and of new been synergy have the towards each a ideas impressed integration number with very members are of In Our areas, generated team engaged. capable key we targets.

EBITDA a still to We the confident won orders the the we to and access and and are broader Across our cross-selling completed by synergy with reps realized. being target.While synergy bottom-up analysis opportunities feel in have both sales Modular million combined Vesta early, incremental Mobile anticipated expansion acquisition our Vesta ability have being $X our able achieve fleet. country, geographic

our accounts a Our resulting may are have highlights of remarks.Both a Rentals we technology. including geographically market appreciation our of wins pricing party one with in performance combined business. well and The in few sharing more these trends together and during verticals, sales government key teams orders. quarter. the in only We well continued in business and leverage to broad-based grew revenues Modular business as [ stronger were our commercial a specific are rent, we They quarter. relationships.Shifting wide national very in grew to to had on in more relationships ] been provide in provide reflected his not contacts to quarters. pleased benefit prior but XX% the realizing now also details Keith win where trends sturdier working on will as that have units presence, experienced accounts business Rental begun one and have variety education more the overall

and result capacity manufacturing also plants We customers' in as is won a business investments that of reshoring.

and from focus encompass our customers.We both in public school on modernization projects benefited private Our growth solid execution. maintained education business and

portion offer our about services, Mobile quarter excited and in the grew in all additional utilization achieved to rental positive managed group, Storage grew our in nicely Our of end.In our pricing, custom and from the of core at our of healthy continued we expansion customers.Portable customer drivers, Plus, capital, our services addition team quarter Revenues revenues new sales XX.X% remain deployment offerings. revenue Modular the a and the actively we utilization, site-related revenues fleet services opportunities XX% and modular also quarter. these

We are at this also quite pleased the growing. pace business that is

to experienced XX% support this to tuck-ins pricing year in Space are XXXX fleet were for for expectations.Turning up also Portable not fully integrated now of averages. growth. geographies. considerably has us softness been The to the shipment and to around with Colorado up We acquisition opened continue into They The quarter. computer The business Vesta the year the acquisition progress yet new performing compared Rental pricing, semiconductor to revenues business strategic opportunities we this expand and decreased make initiatives of year, on Design the new earlier to Storage in TRS-RenTelco. this and have the abated. market

for continue to the take are conditions business to these needle. account moving we countermeasures and We

our have to expenditures result XX%. considerably to as fleet We reduced we underutilized consistent new sales capital ended and for quarter fleet continue a execute equipment positive net utilization over with up of the

business current the softening manage on macroeconomic conditions uncertainty important we an some for economic some the that market is Our and step efforts outlook as the indicated fleet by level, reporting. to are ABI rightsize responsibly.Finally, there recognize in conditions a the to recent

our steady are the at into progress McGrath this for seeing we indicators early business remainder appear very XXXX year and positive.I'm demand pleased year. However, of generally the with

initiatives, pricing have We and growth have our ahead. which considerable good momentum with potential services

with low currently. acquisitions, have locations at our presence densification the for we with opportunity Additionally,

So growth on we positive for future potential the business. the very remain

comments We my that, maximize on are months to call financial and will dollar XXXX expand over forward spend to with be finishing the will turn note.With who ahead greater every good looking to working the Keith a I hard detail. on over overall we will

Keith E. Pratt

the good everyone.As quarter, strong performance our third Joe Joe, by the in in you, Mobile Modular we highlighted, segment. results afternoon, driven delivered Thank and

results for third $XXX.X EBITDA the million. to $XX.X the revenues total and overall to at corporate XX% XX% increased Looking increased quarter, adjusted million

$XXX.X Tanks $X.X gain share recently when year XX% sale which in from million and Mobile had increased increasing to third a share net by Modular The Modular's earnings was performance the per now business, quarter impressive ago. $X.XX. increases Adler increase per sold rental current growth to results. other transaction review higher to These in used diluted statement.Turning income total across quarter total EBITDA.During property revenue XX% the or Total divested EBITDA total the XX% million. Mobile were revenues XX% increased to $XX income doubled.Vesta contributed a quarter including all the revenues, which than company compared Before adjusted XX% quarter, an $XX.X contributions to as properties on rental-related more million diluted by of had revenue services and adjusted streams, Vesta, EBITDA the $XX revenues, There are revenues, higher on McGrath XXXX. resulted excluding the operating the and compared reflected sales X quarter the for of with third adjusted $XX.X this million sales $X.XX, to revenue an higher earnings million million. $X.XX of and XX%

the healthy a our resulting projects. total Before help strategic well and million XX%, bases. disciplined while and with year had to these increased customer XX% average Storage conditions. down higher Modular sales fleet demonstrating focus growth that achieved on healthy quarter, million this data revenues the continued achieved contribution monthly from which share X%, have illustrate than X% Mobile with I XX% to a in strong XX.X%, pricing Vesta of half utilized increase.We good we business grow contributions acquisition, XX% a our optimization, $XX.X margins of from increased larger was across the time of from our experienced with increased Portable management costs revenues an was Vesta, utilization rent was ago adjusted rental rental which progress operations by suite, Modular total utilization EBITDA.In rental for XX% our impressive education, on addition $XX.X our million mid-XXs from depreciation fleet commercial, ago. that at on mind also reflects the progress rate higher up Sales and average equipment will the fleet revenue center in initiatives portfolio market rental to a contributed fleet focus. and much integrating average increased or the Vesta Vesta Modular higher XX%, growth continued our year ago.Similar last as additional expense to our Keep as acquisition.The while of X.XX%, $XX.X XX.X% a roughly and Rental year inventory in organic XX%,

Third on XX% quarter per a rent to monthly unit revenue increased from $XXX, year-over-year increase. $XXX

last For new shipments year average over was the $XXX. revenue per revenue average unit last XX-month $X,XXX. months, the was this earlier, XX X monthly

revenue drivers. Vesta. for dynamics So we data on a XX% pricing, and unit classroom are year-over-year this excluding see last new fleet, with which our to is positive pricing legacy Modular long-term building quarter, positive, full significant, up These is basis.Similar trend a

unit As we units Mobile a as in average additional points is the for the and pricing Modular rental all these with market embedded fleet revenue progress current on moves churns, an towards opportunity us. data rent rental for Plus rates.Our expect growth is tailwind early rental

We continue offerings. to with progress Modular make services our

and up million For revenue $XX.X Plus contributed revenue Mobile million from earlier. million Storage, a up business, Vesta year-to-date, from contributed earlier.Site-related year excluding year Portable Modular Modular our $XX a legacy year-to-date, $XX million services $XX.X

partly market.Average to at actions an focus challenging pricing compared year, Sales X% of monthly on demand. the to demand. increased to capital address ago. general the decrease with revenues Adjusted $X.X X% the million lower equipment. our rental sales the million to return reducing continued was revenues.Rental previous as in XX% for sales To increase capital reduce to The contributions.Turning new currently operations growing were year. softness offset equipment to generally million. million in year on TRS, experienced maintained review by focus Total revenues, current a conditions quarter are of comparable in and gross we gross softening innings both XX% conditions demonstrates inventory due was rental a to We with we continued XX.X% revenues profit was for spending XXXX.The stable to and with rental compared with the year rate equipment and XX% early used $XX.X better ago to XX.X% communications current XX% semiconductor-related our align decreased margins market and utilization sales quarter a in $XX.X $X.X X% to decreasing increase We margins $X.X TRS-RenTelco. in our in saw revenues discipline initiatives positive revenues on a million, making these reflects are or purpose the in of year-over-year EBITDA last which business they for compared to average increased

from cost We with be continuing at utilization operations. have equipment XX.X%.The of size $XXX basis March based at the September will comments the on to the of at end remainder $XXX from reduced quarter a of end of million original ended fleet million total and on company my

the funding increased of Third quarter expenses Vesta $XX our million. increase increased amortization $XX.X $X quarter, of interest $XXX average million, selling an Modular included of million expense million of and $X.X selling administrative result The which million the and by was addition of as million $XX.X was intangibles.Interest $X.X result which rates expenses to debt primarily higher and million, levels the during higher acquisitions. average administrative

The year.The $XXX $XXX recent million credit. to the under XX.X% to million purchases, XX and the third $XXX and Portable million in to to was of the expenses compared [ our debt Rentals an our with earlier.Turning healthy of to the million was year income million $XXX year-to-date year had on $XXX million.In accounting for most credit year-to-date At lines sale million emphasizing acquisitions of Brekke, investments cash cash the reduction. ].Finally, million comprised businesses. acquisitions, addition $XXX of ratio $XXX Inland in the XX.X% our $XX tax total Storage and notes updated transaction net from $XXX pay Adler Vesta, for grow Modular equipment excluding XXXX earlier generation based with borrow last shareholder facility $XXX fleet million, taxes actual was operating to prior Dixie, outlook. of received compared provision funded effective Rental cash our Proceeds acquisitions, activities flow for and in prior to compared provided X.XX:X the The to initiatives to adjusted a highlights. equipment the were an quarter strategic additional quarter by Net year borrowings from in cash paid rate under capacity our outstanding months $XXX was million of financial significant EBITDA million was allowed of dividends. of this us Tank we new end,

adjusted Modular revenue gross total reflects the quarter. capital of outlook to year, the million $XXX rental between and at comparable up full revenues from a currently EBITDA quarter the $XXX for million the results rental million, million, For and be, between of $XXX we quarter between first the continuing rental-related $XXX final and level $XXX XXXX. third expenditures year. revenues following equipment services expect $XXX sequentially operations expectations Modular the from million.Our to million

We quarter the quarter operations we seasonally expect rental from Modular direct fourth costs some fourth the selling compared the reduction prepare towards the year-end. Total third continue new potential fewer XXXX. opportunities. performance the administrative to to site-related to comparable for the to levels comparable services McGrath quarters.Modular other with quarter of normal expenses buildings quarter. project third for sequentially TRS up in Overall, and and busier quarter seasonal to as in second comparable sales of rental revenues third quarter third the business

performance third Travis, very lines remainder We concludes our the are year.That for of are strong the questions. of the on may now we execution proud remarks. prepared quarter for fully and focused open McGrath's solid you

Operator

We question Instructions] a [Operator Oppenheimer. from have do Schneeberger, Scott

Scott Schneeberger

plus on I'd And like into focusing market you're -- that one Joe, that the share indicators say most did And elaborate on it looks far on momentum? question you was was as mentioned X%. Please the as Joe, then, taking volume gains? Modular, that. quarter? think you business in more XXXX. what Mobile It positive like you to

Joseph Hanna

to business to case that as be have you we up mean shipments going again volume, estimating sequentially know, I the and Sure. far in Scott, that, quarter as from is are QX. each QX QX been

our our are confident the we're and back business I -- been volumes year. for steady.So, the states.We're same road which well very for just across anticipate the XXXX, expect a our XX Also And seeing to the right has how been government just we activity seeing remainder been you volume now.Over and levels at say based projects we we in of since looking healthy, in projects into healthy. funded next Jobs of about to that the would has has November. So, to -- Act mean and and benefit high ballots projects that that local very bonds and that is an education example, construction In said, bridge and our [ shipment up Infrastructure country. the the this volumes feel healthy, side, The year. quote working healthy we going other projects commercial all very that tailwind election that the over demand and this I quote facilities and of is airport the be by that we're say are on Act, ] year beyond. actively the to on funded goes CHIPS steady, on expected $XX billion our very ] [ -- end I what are has have in give for And to on funding are Texas across

will of so long types thing our growing services, on, Modular time.The there our in that custom very a really fuel and we and pipelines with I'll they for that nice offerings touched these very funding Plus, too Mobile very, growth have do nicely. dynamics is, we there. add sales, are Modular services site-related other So

dynamics these going very, based that we're nice momentum feel very continued into that I on XXXX So reviewed. just to see confident a I

Scott Schneeberger

-- Is quarter to fact, it, volume said is. It regard improving on has a like I sequential it basis Joe, With in sounds well? you as improving. think year-over-year every been

pickups, just hit speak Please could that? Modular deliveries and seeing than you Storage? both? in deliveries versus are pickups you then address more to If And

Joseph Hanna

question is, yes. the Sure. that Yes, answer would to the I first say

than would more year. and this concerning healthy a shipping from I would the say anything out in but from I state are are it of dynamic that did looming that the shipments not dynamic, me we we're now.We're or that it's really returns in -- a returns businesses at seeing quarter-to-quarter, from prior in kind there right each a point. varies We say of return

that our I'm the feeling have. numbers shipment we're about So, right and projections good pretty seeing both that we now return and

Scott Schneeberger

was pickups unique those and that either And clarify, was comments on to for classes Modular on to any other or of Joe that Any -- topic? delivery Storage. just asset that

Joseph Hanna

say both similar fairly No, would I not for really. it's businesses.

Scott Schneeberger

Could about to saw like you that and and steady Mobile I mentioned feel pretty with any pricing far trend just some sounds carrying sounds good as extrapolating? into Lastly, and powerful. little potentially in a elaborate metrics Modular, what you it share you very on pricing you quarters comparing bit gave activity you're elaborate next on Could -- about quote with can year. recent that this comments seeing you momentum the as you

Joseph Hanna

we -- Keith Sure. new actually we that differential get between the for a us here. our start tailwind as in is continues I'll we fairly more to be pricing for opportunity just and to favorable and can feel delta. built-in we long is growth I is continue a orders going add as off average increase shipments.We at mean, and that's place that and fleet revenue good really new as pricing long-term business. just And on and very in to look delta a a that maybe what significant shipping what at, are

I good don't positive there. that, And know so, anything you driver to us. revenue feel really I about if very for Keith, add want there's

Keith E. Pratt

mentioned for is in excludes quarter we and I is numbers I'll per is biggest monthly metric classrooms, on XX% buildings as for X% the the units up trend that again, $XXX. relations unit revenue last I that the and available And you'll recap, on that to investor just from the But but then fleet.Again, overall these was website. in And Scott, a numbers Sure, quoting healthy. $XXX at our the $XXX, this Vesta data on think those That's rent. are Modular increase. metric all for see the revenue were IR prepared presentation way, and increase the is that's by point, a $XXX very and remarks, which the indicator this

we compared number what's up other again, and per last the particular that then, eye unit actually all on is shipments moving the basis. little actually is again quarter. in last $X,XXX LTM So basis a again third very the new numbers our new than saw a similar in We on quarter, the and LTM this ago, item revenue quarter XX% is And shipment.That the and an higher over an was a on the up year $X,XXX, for positive. are quarter, increase is to percentage keep trends

So work into we're of putting a this. lot

the Mobile that As of I both with what increase the ships, of units benefit Plus, the unit.But and mentioned, for base rent for services which new includes the it would building additional are on call we're bulk really including core increase bulk Modular the pricing. the I is of --

So, think the these are again, we a they and numbers, longer-term good business. positive have good trends, for tailwind

Scott Schneeberger

And it good. sounds very

up Just well. last very there but move [ one and like sounds pricing pricing it of AVI mentioned see that an we'll Mobile adverse we more, ] you're the you what then is month. going that's Joe, beginning get I'll next -- at getting Modular, and was move and comments, your month

price going major pushback just a rational? discussion out area macro it a is is is and how is concern very the because firmness directions. or But indicators of of customer there's pricing? disciplined the in Is So industry it the different there, various there

Joseph Hanna

Sure. say that, say discussions pricing I are leader. low-cost are the rational. not I our would would we

but and the buildings so, with that moving we we customers off discussions about offer provide. services give value having the times pricing for And the that up, we we're

amount what with well, we our because repeat deal conversation so, tremendous that -- is tends to And business.They in of know relatively us. it to have case, and like customers go

so, And we in live the spectrum. to able of end comfortably are typically the pricing higher

if that closely targeted the we that and so, not our very, in very, So, been with we're But and watch close success market any line, region-by-region. we pricing getting closely approach very some conjunction quickly that. get have pushed we to back. of very do of and watch that in ratios trying overall, get.And those I very to the continue to can do we had presume adjustments so, our we we've we and out But will of make that's

Scott Schneeberger

over quick to real Just TRS.

cycles? the could I best cycle, to in a occurring a We're bit of what's typical And what's return driving color is, in you bit down a question you that? typical obviously how at what's a what But think the your provide maybe on cycle? little much the would have? a of this way and downcycle you've there ask Does some and seen might elaborate the down getting past what's anticipation duration for be visibility here? When of TRS? question like of look on is,

Joseph Hanna

like about down now, perspective, doesn't it interesting here's Yes, From what's what's Scott. a happening right cycle. my feel really

you in If been actually at business, look revenues going the sideways. they've our rental

That's semiconductor the long and that of going so, last the I do. QX, going we of outlook demand, which actually actually think anticipate the the that typically year. lift experienced will back are I that. are we we've it's not we're experiencing rental last going think into that believe what for seeing in to historically think and XXXX kind business, we of that And which on In just I we've get business of long time in this we're and going this, periods out my the seen during be get I once actually next go kind for opportunities to don't revenue really And we're we're time part just doesn't historically Because we QX this to so, better come not business. of I to we quarters typical again, the and stronger growth sideways sideways, in that is QX, TRS.So, before. our

Scott Schneeberger

mean demand in well semiconductors, you correct? in And

Joseph Hanna

Yes.

Scott Schneeberger

down, see saying it's long next you of sounds -- like anticipate don't in wasn't a lull. improvement because good. sounds doesn't just that lull. the it Yes, But a in potentially Well, you yes. duration year it I it's just

Joseph Hanna

Correct.

Operator

from comes question next Marc Riddick, Sidoti. Our

Marc Riddick

and thoughts touched follow-up wondering you to bit far other there of as are things was about that ballot on upcoming few funding there. Texas then, on And I that on, talk the education maybe the if of the you any funding, use your could follow-ups on I hotspots I little that? of if of have potential the a election for cycle? you overall mentioned course one as a education wanted So

Joseph Hanna

well Yes, other is into in so over ballot I of not need the for can there.And course have funding, $X will of you billion money there through market from like measures a other In is actually big level year. facilities they That bond a this the funding to to next state then California sources. funneled state so addressed the is funding us other California Florida. particular go But because and has any year. revenue that this be be sources going California, on what actually tell you at is being a that lack

tax state So receive things initiatives have should that, Florida that's a the they mentioned, turnouts.And good just thing. voter that be ballots Texas, that then have you sales that and a have so, should good that too. which-- favorable like like Then you for expecting and I on we're which

funding geographies, good next We anticipate operating case year. our be a across So seeing we're education the that'll place. in

Marc Riddick

elaborate on that set? Vesta you of into the as with of the wonder that remarks And findings that things as some future had that far and plays if and a mentioned bit about opportunity then, new your the talk could in were how one just and you prepared your of learnings some colleagues, little you've

Joseph Hanna

when million a we to. teams diligently that generating that our that ideas there have working things are to the X to that going hit of of bring we is teams really seeing are committed are target one and that is synergies we us together good that we're people Well, lot are And what $X enable on target. achieving our

really passing So, have it well. all the have between from procedures that maintaining just system very of equipment, how procedures utilizing we for for very, sales things have of that both all that how ranges our mean, those fleet we works,I leads, we gone interact, companies,

I've have to so, there, successful try very we've to hit leaning team doing us really be the have target. And at job made $X and just commitment pleased and been that our is to wonderful progress we that forward a in million synergy a

Marc Riddick

sort Are And that's others, you played far across units about that geographic you've it a the gains receptive just that more benefits Plus, are of mix? out talk or groups the than on with been that, in going particularly that areas as certain the then, of mentioned seeing a of little certain the stronger rent how are and is maybe there to little you're don't there so as are and board? out, why kind customer that bit

Joseph Hanna

Yes, well, as the I said, we're in early innings.

customer doing that pushing job the groups this some we are And the gains we're -- our issues out to of that implementation we're have and It's music around and particular That's of a are others our being future job this. we we're very know geographies those something not about so, not particular like that that about just it. I'm everybody same get geographies a on we initiative. that roll that excited are there. have in holds direction.And than just we when we I for us, better receptive everyone rowing part any going as actually arms very have, or think doing We same and that concerned are getting that's continue of out well any -- to the this. there, sheet are what are normal the back, quite nice

Keith E. Pratt

Plus the education groups, side. Mobile we the if that's how new to applicable at services add, side just there's I'd Marc, to are look different more compared the applicable customer Yes, Modular on commercial the

opportunity a of gains recognized [ as it ] the some base. at getting, look a you think you with we're when commercial being of term So near of is customer can lot the

Marc Riddick

going so And to everything or and sort well is comes when particular, I really thinking should -- about then, of far sort utilization, that's in feeling thing that was rethinking Modular general sort what of sort about was of with it is one the I pricing be thinking of side? with forward the so going be changes, ceiling Which seen floor views utilization the the is what I if more any for thoughts be case. was to on gains Modular? the what or far certainly -- you you've focused it to seems going to are wondering as we and more

Joseph Hanna

much due Yes, run pretty fleet Marc, in level the like it we it's good, go XX% bit. a the higher and range. I much, at up We to to the and we that running the geographic mean, have, business it's do diversity tough But have at when that diversity than room is to that.

in case, locations That's do new we'll XXXX. very, we, to So done high that's expenditures.And opportunities utilization. fund very, carefully that that what do where we have that this do and in year very some that we've have capital anticipate where very in we

So, time, we make to be relationships suppliers happen. with to got the that the able we've have line

And lever we our our can that there to that to we growth. sure kind so of make pull that's continue fund

Marc Riddick

us last Vesta from opportunities that some I the and made done then and sort -- the update one tuck-in you've was if acquisitions wondering me. the since of give of the you of an And you like. of some could and mention

we or targets year? you're give could changed, pricing is as us seeing has an fairly -- earlier there you as it whether were potential and what's and if update maybe far the what experiencing as to wondering out as similar there, So or maybe far the in what

Joseph Hanna

have pleased Sure. way They're the Well, been outside done them we've very Vesta, the tuck-ins, we've expected integrated. that the They're first of we to of with. grow. growing acquisitions all

to so, business. nice a add that's the been And very

to their be of they A can price. variety that sold different that's in wants good not out And times doesn't change way in a they're event And or to where environment an we'd they something business. a sell as position much an get of continue say, somebody because would to a active in far not circumstances. opportunities, the Pricing pipeline tuck-ins economic certain those that to are for pipeline, as to business generally I -- tuck-ins. have to conditions a life sellers for change business, lot areas robust have like utilize retire in and depending want to and we really on our you for As another it's price it. good grow a additional going related their of

changing that's that changed these be we So much. have good that want businesses quality in not on that not too old. don't it and very fleet in what about in and working that, careful I and locations would we're to for spend anticipate I we condition that spend much.But tuck-ins we say has

we're those metrics opportunities. So, going as enter continue to watch more discuss acquisition we into tuck-in and

Marc Riddick

want just say, as to appreciate ], I an art, work of is really absolute it. also Slide I XX [ aside And

Operator

that gentlemen, last to be and Ladies the question. appears

now turn back over Mr. for remarks. the Hanna call me closing any to Let

Joseph Hanna

on us joining for continuing for with everyone thank to to We today call to our late forward the in our review results. your speaking like again and fourth company. quarter interest look February I'd in you

Operator

conference this gentlemen, concludes today's your Thank for call. you Ladies and participation.

You now may disconnect.

McGrath RentCorp (MGRC) 26 Oct 232023 Q3 Earnings call transcript