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v3.23.2

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |
Rental revenues |  |  |  | $ 234,607 |  | $ 214,865 |  |
Rental related services revenues |  |  |  | 63,573 |  | 53,136 |  |
Sales and other revenues |  |  |  | 78,006 |  | 54,403 |  |
Total revenues |  | $ 203,030 | $ 177,031 | 376,186 |  | 322,404 |  |
Depreciation of rental equipment |  |  |  | 45,755 |  | 47,938 |  |
Gross profit |  |  |  | 176,642 |  | 144,326 |  |
Selling and administrative expenses |  |  |  | 107,106 |  | 79,915 |  |
Income (loss) from operations |  |  |  | 69,536 |  | 64,411 |  |
Interest (expense) income allocation |  |  |  | (17,783) |  | (5,821) |  |
Income (loss) before provision for income taxes |  |  |  | 51,961 |  | 58,422 |  |
Adjusted EBITDA |  |  |  | 142,400 |  | 123,010 |  |
Rental equipment acquisitions |  |  |  | 122,481 |  | 95,976 |  |
Accounts receivable, net (period end) |  | 191,676 | 167,329 | 191,676 |  | 167,329 |  | $ 169,937
Rental equipment, at cost (period end) |  | 1,848,816 | 1,774,291 | 1,848,816 |  | 1,774,291 |  | 1,521,535
Rental equipment, net book value (period end) |  | 1,295,650 | 1,097,525 | 1,295,650 |  | 1,097,525 |  | $ 990,317
Mobile Modular [Member] |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |
Rental revenues |  |  |  | 170,370 |  | 126,487 |  |
Rental related services revenues |  |  |  | 59,442 |  | 39,594 |  |
Sales and other revenues |  |  |  | 61,107 |  | 35,941 |  |
Total revenues |  | 164,262 | 111,377 | 290,919 |  | 202,022 |  |
Depreciation of rental equipment |  |  |  | 19,729 |  | 15,582 |  |
Gross profit |  |  |  | 140,226 |  | 92,820 |  |
Selling and administrative expenses |  |  |  | 84,810 |  | 50,447 |  |
Income (loss) from operations |  |  |  | 55,416 |  | 42,373 |  |
Interest (expense) income allocation |  |  |  | (14,718) |  | (3,821) |  |
Income (loss) before provision for income taxes |  |  |  | 40,698 |  | 38,552 |  |
Adjusted EBITDA |  |  |  | 99,269 |  | 66,178 |  |
Rental equipment acquisitions |  |  |  | 105,575 |  | 51,575 |  |
Accounts receivable, net (period end) |  | 161,927 | 118,865 | 161,927 |  | 118,865 |  |
Rental equipment, at cost (period end) |  | 1,457,984 | 1,075,898 | 1,457,984 |  | 1,075,898 |  |
Rental equipment, net book value (period end) |  | 1,132,778 | 776,003 | $ 1,132,778 |  | $ 776,003 |  |
Utilization (period end) | [1] |  |  | 78.80% |  | 78.60% |  |
Average utilization | [1] |  |  | 79.40% |  | 77.60% |  |
TRS-RenTelco [Member] |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |
Rental revenues |  |  |  | $ 57,717 |  | $ 58,230 |  |
Rental related services revenues |  |  |  | 1,547 |  | 1,484 |  |
Sales and other revenues |  |  |  | 14,701 |  | 11,118 |  |
Total revenues |  | 37,845 | 37,341 | 73,965 |  | 70,832 |  |
Depreciation of rental equipment |  |  |  | 24,701 |  | 24,362 |  |
Gross profit |  |  |  | 31,503 |  | 30,826 |  |
Selling and administrative expenses |  |  |  | 16,577 |  | 13,204 |  |
Income (loss) from operations |  |  |  | 14,926 |  | 17,622 |  |
Interest (expense) income allocation |  |  |  | (3,801) |  | (1,232) |  |
Income (loss) before provision for income taxes |  |  |  | 11,333 |  | 16,222 |  |
Adjusted EBITDA |  |  |  | 42,173 |  | 42,781 |  |
Rental equipment acquisitions |  |  |  | 16,906 |  | 42,791 |  |
Accounts receivable, net (period end) |  | 26,138 | 24,796 | 26,138 |  | 24,796 |  |
Rental equipment, at cost (period end) |  | 390,832 | 389,383 | 390,832 |  | 389,383 |  |
Rental equipment, net book value (period end) |  | 162,872 | 177,038 | $ 162,872 |  | $ 177,038 |  |
Utilization (period end) | [1] |  |  | 58.30% |  | 65.30% |  |
Average utilization | [1] |  |  | 58.70% |  | 64.60% |  |
Adler Tanks [Member] |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |
Total revenues |  |  | 23,663 | $ 9,438 |  | $ 43,983 |  |
Adler Tanks (Discontinued) [Member] |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |
Rental revenues | [2] |  |  | 6,520 |  | 30,148 |  |
Rental related services revenues | [2] |  |  | 2,584 |  | 12,058 |  |
Sales and other revenues | [2] |  |  | 334 |  | 1,777 |  |
Total revenues | [2] |  |  | 9,438 |  | 43,983 |  |
Depreciation of rental equipment | [2] |  |  | 1,325 |  | 7,994 |  |
Gross profit | [2] |  |  | 4,665 |  | 19,335 |  |
Selling and administrative expenses | [2] |  |  | 2,583 |  | 13,501 |  |
Income (loss) from operations | [2] |  |  | 2,082 |  | 5,834 |  |
Interest (expense) income allocation | [2] |  |  | (374) |  | (1,119) |  |
Income (loss) before provision for income taxes | [2] |  |  | 1,709 |  | 4,715 |  |
Adjusted EBITDA | [2] |  |  | 3,682 |  | 15,327 |  |
Rental equipment acquisitions | [2] |  |  |  |  | 1,610 |  |
Accounts receivable, net (period end) | [2] |  | 17,248 |  |  | 17,248 |  |
Rental equipment, at cost (period end) | [2] |  | 309,010 |  |  | 309,010 |  |
Rental equipment, net book value (period end) | [2] |  | 144,484 |  |  | 144,484 |  |
Enviroplex [Member] |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |
Sales and other revenues | [3] |  |  | 1,864 |  | 5,567 |  |
Total revenues |  | 923 | 4,650 | 1,864 | [3] | 5,567 | [3] |
Gross profit | [3] |  |  | 248 |  | 1,345 |  |
Selling and administrative expenses | [3] |  |  | 3,137 |  | 2,763 |  |
Income (loss) from operations | [3] |  |  | (2,889) |  | (1,418) |  |
Interest (expense) income allocation | [3] |  |  | 1,110 |  | 351 |  |
Income (loss) before provision for income taxes | [3] |  |  | (1,779) |  | (1,067) |  |
Adjusted EBITDA | [3] |  |  | (2,724) |  | (1,276) |  |
Accounts receivable, net (period end) | [3] | $ 3,611 | $ 6,420 | $ 3,611 |  | $ 6,420 |  |
[1] | Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment, excluding accessory equipment, and new equipment inventory. The Average utilization for the period is calculated using the average costs of rental equipment.
[2] | The financial results of Adler Tanks included in this table are through the date of the business divestiture, which occurred on February 1, 2023.
[3] | Gross Enviroplex sales revenues were $1,871 and $6,423 for the six months ended June 30, 2023 and 2022, respectively. There were $7 inter-segment sales to Mobile Modular in the six months ended June 30, 2023 and $856 inter-segment sales during the same period in 2022, which required elimination in consolidation.

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