secwatch.observer — SEC 8-K summary
======================================

Issuer:     MCGRATH RENTCORP (MGRC)
CIK:        0000752714
Form:       8-K
Filed at:   2024-02-21T23:59:59+00:00
Accession:  0000950170-24-017874
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/752714/000095017024017874/0000950170-24-017874-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/752714/000095017024017874/mgrc-20240221.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-017874

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer