McGrath Q4 revenues up 21% to $221.6M but EPS down to $1.30; dividend raised 2%

MCGRATH RENTCORP

2023-FY EPS reported $7.12 revenue$831,842,000

Q4 net income from continuing ops $32.0M ($1.30 diluted) vs $35.0M ($1.43) a year ago, a decline of 9%.
Full-year revenues $831.8M (+31% YoY); net income from continuing ops $111.9M ($4.56 diluted), up 8%.
Mobile Modular rental revenues up 37% (two-thirds from Vesta); TRS-RenTelco down 11% on semiconductor weakness.
Quarterly dividend increased to $0.475/share (2% YoY), marking 33rd consecutive annual increase.
CEO cites WillScot Mobile Mini deal validation; integration of Vesta completed on schedule.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MCGRATH RENTCORP reported fourth quarter ended December 31, 2023 results: revenue $221.6 million, net income $32.0 million, EPS $1.30 per diluted share.

Period: fourth quarter ended December 31, 2023
Revenue: $221.6 million
Net income: $32.0 million
EPS: $1.30 per diluted share
Result: reported results

Exact text from the filing

MGRC), a leading business-to-business rental company in North America, today announced total revenues from continuing operations for the quarter ended December 31, 2023 of $221.6 million, an increase of 21% compared to the fourth quarter of 2022. The Company reported net income from continuing operations of $32.0 million, or $1.30 per diluted share, for the

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Source: SEC EDGAR

accession 0000950170-24-017874

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