secwatch.observer — SEC 8-K summary
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Issuer:     MCGRATH RENTCORP (MGRC)
CIK:        0000752714
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0000950170-23-017818
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/752714/000095017023017818/0000950170-23-017818-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/752714/000095017023017818/mgrc-20230504.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-017818

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