McGrath RentCorp Q3 net income $149.3M including $180M merger termination fee; core adj. EPS $1.87

MCGRATH RENTCORP

2024-Q3 EPS reported $7.85 revenue$667,196,000

Total revenues from continuing ops $266.8M (+10% YoY); rental revenue grew 1% to $124.2M.
Net income $149.3M ($6.08 diluted EPS) includes $180M WillScot termination fee and $39.4M transaction costs.
Adjusted net income from continuing ops $45.9M ($1.87 diluted EPS); Adjusted EBITDA $104.0M (+13%).
Mobile Modular rental revenue +9%; Portable Storage rental -11%; TRS-RenTelco rental -10%.
FY2024 guidance: revenue $910-$920M, Adjusted EBITDA $345-$351M, rental capex $180-$190M.

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