$MGRC
MCGRATH RENTCORP

2017 Q1 Form 10-Q Financial Statement

#000156459017008110 Filed on May 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2016 Q1
Revenue $94.84M $105.3M $93.70M
YoY Change 1.21% 0.0% 3.89%
Cost Of Revenue $51.17M $56.00M $53.04M
YoY Change -3.54% -4.27% 3.8%
Gross Profit $43.67M $49.32M $40.66M
YoY Change 7.42% 5.49% 4.01%
Gross Profit Margin 46.05% 46.85% 43.39%
Selling, General & Admin $27.85M $26.60M $26.40M
YoY Change 5.5% 5.14% 4.7%
% of Gross Profit 63.77% 53.93% 64.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.41M $19.70M $20.86M
YoY Change -6.98% -6.19% -0.22%
% of Gross Profit 44.44% 39.94% 51.31%
Operating Expenses $27.85M $26.60M $26.40M
YoY Change 5.5% 5.14% 4.7%
Operating Profit $15.82M $22.70M $14.26M
YoY Change 10.97% 5.73% 2.76%
Interest Expense -$2.600M -$2.900M -$3.400M
YoY Change -23.53% 0.0% 30.77%
% of Operating Profit -16.43% -12.78% -23.85%
Other Income/Expense, Net
YoY Change
Pretax Income $13.26M $19.80M $10.85M
YoY Change 22.17% 6.87% -4.09%
Income Tax $5.286M $10.10M $4.287M
% Of Pretax Income 39.87% 51.02% 39.5%
Net Earnings $7.973M $9.734M $6.566M
YoY Change 21.43% -15.49% -4.09%
Net Earnings / Revenue 8.41% 9.25% 7.01%
Basic Earnings Per Share $0.33 $0.41 $0.28
Diluted Earnings Per Share $0.33 $0.40 $0.27
COMMON SHARES
Basic Shares Outstanding 23.95M 23.93M 23.86M
Diluted Shares Outstanding 24.23M 24.12M 23.91M

Balance Sheet

Concept 2017 Q1 2016 Q4 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.700M $900.0K $1.100M
YoY Change 54.55% -18.18% 37.5%
Cash & Equivalents $1.680M $852.0K $1.062M
Short-Term Investments
Other Short-Term Assets $27.10M $25.60M $26.60M
YoY Change 1.88% -10.49% -24.65%
Inventory
Prepaid Expenses
Receivables $92.60M $96.90M $91.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $121.4M $123.4M $119.6M
YoY Change 1.51% -9.26% -4.7%
LONG-TERM ASSETS
Property, Plant & Equipment $116.2M $112.2M $975.7M
YoY Change -88.09% 2.22% 790.02%
Goodwill $27.81M $27.81M
YoY Change 0.0%
Intangibles $8.377M $8.595M
YoY Change -9.19%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.009B $1.005B $1.013B
YoY Change -0.34% -1.15% 2.66%
TOTAL ASSETS
Total Short-Term Assets $121.4M $123.4M $119.6M
Total Long-Term Assets $1.009B $1.005B $1.013B
Total Assets $1.131B $1.128B $1.132B
YoY Change -0.14% -2.11% 1.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $78.80M $78.20M $64.00M
YoY Change 23.13% 8.76% -8.83%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $78.80M $78.20M $64.00M
YoY Change 23.13% 8.76% -8.83%
LONG-TERM LIABILITIES
Long-Term Debt $323.8M $326.3M $365.8M
YoY Change -11.48% -14.42% 13.99%
Other Long-Term Liabilities $39.90M $37.50M $36.80M
YoY Change 8.42% 3.31% 25.17%
Total Long-Term Liabilities $363.7M $363.8M $402.6M
YoY Change -9.66% -12.88% 14.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $78.80M $78.20M $64.00M
Total Long-Term Liabilities $363.7M $363.8M $402.6M
Total Liabilities $734.1M $734.0M $751.8M
YoY Change -2.35% -5.03% 9.56%
SHAREHOLDERS EQUITY
Retained Earnings $294.3M $292.5M
YoY Change 4.96%
Common Stock $102.5M $101.8M
YoY Change 0.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $396.6M $394.3M $380.5M
YoY Change
Total Liabilities & Shareholders Equity $1.131B $1.128B $1.132B
YoY Change -0.15% -2.11% 1.83%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2016 Q1
OPERATING ACTIVITIES
Net Income $7.973M $9.734M $6.566M
YoY Change 21.43% -15.49% -4.09%
Depreciation, Depletion And Amortization $19.41M $19.70M $20.86M
YoY Change -6.98% -6.19% -0.22%
Cash From Operating Activities $25.80M $35.40M $39.50M
YoY Change -34.68% -18.99% 14.16%
INVESTING ACTIVITIES
Capital Expenditures $5.835M -$15.20M $881.0K
YoY Change 562.32% -44.73% -70.68%
Acquisitions
YoY Change
Other Investing Activities $5.500M $5.400M $6.100M
YoY Change -9.84% -16.92% 0.0%
Cash From Investing Activities -$16.20M -$9.900M -$17.60M
YoY Change -7.95% -52.63% -34.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.700M -25.90M -22.00M
YoY Change -60.45% 15.63% 168.29%
NET CHANGE
Cash From Operating Activities 25.80M 35.40M 39.50M
Cash From Investing Activities -16.20M -9.900M -17.60M
Cash From Financing Activities -8.700M -25.90M -22.00M
Net Change In Cash 900.0K -400.0K -100.0K
YoY Change -1000.0% -200.0% -80.0%
FREE CASH FLOW
Cash From Operating Activities $25.80M $35.40M $39.50M
Capital Expenditures $5.835M -$15.20M $881.0K
Free Cash Flow $19.97M $50.60M $38.62M
YoY Change -48.3% -28.93% 22.23%

Facts In Submission

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7000
CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1019000
CY2017Q1 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
5700000
CY2016Q4 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
5700000
CY2017Q1 us-gaap Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
9611000
CY2016Q4 us-gaap Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
9611000
CY2017Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2017Q1 mgrc Sales And Other Revenue Net
SalesAndOtherRevenueNet
8924000
CY2017Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
15311000
CY2016Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
15311000
CY2017Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6934000
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6716000
CY2017Q1 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P11Y
CY2016 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2017Q1 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2017Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
700000
CY2017Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-2789000
CY2017Q1 mgrc Property Subject To Or Available For Operating Lease Acquisition Or Disposition
PropertySubjectToOrAvailableForOperatingLeaseAcquisitionOrDisposition
20552000
CY2016Q1 mgrc Sales And Other Revenue Net
SalesAndOtherRevenueNet
9576000
CY2016Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-3556000
CY2016Q1 mgrc Property Subject To Or Available For Operating Lease Acquisition Or Disposition
PropertySubjectToOrAvailableForOperatingLeaseAcquisitionOrDisposition
19290000
CY2016Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
91883000
CY2016Q1 us-gaap Property Subject To Or Available For Operating Lease Gross
PropertySubjectToOrAvailableForOperatingLeaseGross
1317622000
CY2016Q1 us-gaap Property Subject To Or Available For Operating Lease Net
PropertySubjectToOrAvailableForOperatingLeaseNet
867215000

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