McGrath RentCorp Posts Q3 Net Income of $48.8 Million, Beats Analyst Estimates

McGrath RentCorp (MGRC) on Wednesday reported third-quarter net income of $48.8 million, or $2 per share, exceeding Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.80 per share. The Livermore, California-based business-to-business rental company posted revenue of $274.6 million for the period, also beating Street forecasts of $271.3 million. McGrath expects full-year revenue in the range of $945 million to $960 million.