McGrath Q1 revs $187.8M (+15%), EPS $0.93 incl $0.28 gain; modular strong

MCGRATH RENTCORP

2024-Q1 EPS reported $0.93 revenue$187,827,000

Total revenue $187.8M, up 15% YoY; net income $22.8M vs $11.5M; diluted EPS $0.93 vs $0.47.
Adjusted EBITDA $72.1M, up 17% from $61.7M; includes $9.3M net gain on property sale.
Mobile Modular rental revenue +19% to $76.5M; Adjusted EBITDA $43.3M (+34%).
TRS-RenTelco rental revenue -13% to $25.4M on semiconductor weakness; EBITDA $18.5M (-10%).
Dividend declared $0.475/share vs $0.465 prior year, payable in Q2.

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 first quarter ended March 31, 2024 results: revenue $187.8 million, net income $22.8 million, EPS $0.93 per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $187.8 million
Net income: $22.8 million
EPS: $0.93 per diluted share
Result: reported results

Exact text from the filing

total revenues from continuing operations for the quarter ended March 31, 2024 of $187.8 million, an increase of 15% compared to the first quarter of 2023. The Company reported net income from continuing operations of $22.8 million, or $0.93 per diluted share, for the first quarter of 2024

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Source: SEC EDGAR

accession 0000950170-24-048259

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