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
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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