---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-017818"
form_type: "8-K"
ticker: "MGRC"
cik: "0000752714"
company_name: "MCGRATH RENTCORP"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:36:06.689540+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# McGrath Q1 revenues up 19% to $173.2M; raises full-year guidance

## Summary
- Net income $71.7M ($2.92 diluted EPS) vs $18.8M ($0.77) prior year; includes $58.9M gain on Adler Tanks divestiture.
- Continuing ops income $11.5M ($0.47 diluted EPS); adjusted EPS $0.89 after excluding $14.2M transaction costs.
- Rental revenues from continuing ops up 22% to $110.2M; Modular rental revenues up 32% including Vesta acquisition.
- Full-year 2023 guidance raised: total revenue $790-820M (prev $780-810M); Adjusted EBITDA $300-315M (prev $294-309M).
- Dividend maintained at $0.465 per share; annualized yield ~2.1% based on $88.46 close.

## SEC filing metadata
- accession: 0000950170-23-017818
- form_type: 8-K
- ticker: MGRC
- cik: 0000752714
- company_name: MCGRATH RENTCORP
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/752714/000095017023017818/0000950170-23-017818-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/752714/000095017023017818/mgrc-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-017818
- JSON: https://secwatch.observer/filing/0000950170-23-017818.json
- Plain text: https://secwatch.observer/filing/0000950170-23-017818.txt

## Key facts
- Earnings Releases
  MCGRATH RENTCORP reported its first quarter ended March 31, 2023 results: revenue $173.2 million, net income $71.7 million, EPS $2.92 per diluted share. Guidance raised.
  - Period: its first quarter ended March 31, 2023
  - Revenue: $173.2 million
  - Net income: $71.7 million
  - EPS: $2.92 per diluted share
  - Guidance: raised
  - Result: reported results
  source text: total revenues for the quarter ended March 31, 2023 of $173.2 million, an increase of 19%, compared to the first quarter of 2022. The Company reported net income of $71.7 million, or $2.92 per diluted share, for the first quarter of 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/752714/000095017023017818/0000950170-23-017818-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.