McGrath RentCorp Q2 2024 GAAP EPS $0.84 Misses $1.10 Estimate, Sales $212.600M Beat $210.234M Estimate
Portfolio Pulse from Benzinga Newsdesk
McGrath RentCorp (NASDAQ:MGRC) reported Q2 2024 earnings per share (EPS) of $0.84, missing the analyst consensus estimate of $1.10 by 23.64%. However, the company reported sales of $212.6 million, beating the estimate of $210.234 million by 1.13%. This represents a 4.71% increase over the same period last year.
July 25, 2024 | 8:02 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
McGrath RentCorp's Q2 2024 earnings per share (EPS) missed analyst estimates significantly, which could negatively impact the stock price in the short term. However, the company did report a slight beat on sales and a year-over-year increase, which may mitigate some of the negative sentiment.
The significant miss on EPS is likely to weigh heavily on investor sentiment, leading to a short-term decline in the stock price. The slight beat on sales and year-over-year growth may provide some support, but the overall impact is expected to be negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100