McGrath RentCorp (NASDAQ:MGRC) Q4 2023 Earnings Call Transcript

Keith Pratt: Sure. I mean, we’ve been dealing with this now for most of 2023. We would have expected to come out of this trough by now, and we’re hoping that is definitely the case. I think usually these cycles don’t last for significant amounts of time, and in Q4, we saw just continued weakness in that particular sector. And so, I can’t speculate on when we think that’s going to happen. But with more of the AI initiatives and research going on, we’d like to be involved in that and are involved in that, and so that’s certainly a bright spot that’s out there. And then for the continuing 5G, that’s been, I would say, rolled out on a very, very slow basis in tower modifications and backhaul upgrades and things like that for increased bandwidth to deal with 5G have been methodical, but I would say not in any kind of accelerated basis that we saw in 2023. It was pretty much kind of steady business that we got. I don’t see that necessarily changing.

Scott Schneeberger: Okay. Thanks. That’s all from me. Good job.

Keith Pratt: Thank you, Scott.

Operator: Thank you. [Operator Instructions] And, ladies and gentlemen, that appears to be the last question. Let me now turn the call back over to Mr. Hanna for any closing comments.

Joe Hanna: I’d like to thank everyone for joining us on the call today and for your continuing interest in our company. We look forward to speaking with you again in late April to review our first quarter results.

Operator: Thank you, Mr. Hanna. Ladies and gentlemen, this concludes today’s conference call. Thank you for your participation. You may now disconnect.