McGrath Q4 revenue up 10% to $243.7M; EPS $1.58, dividend raised 2% for 34th year

MCGRATH RENTCORP

2024-FY EPS reported $9.43 revenue$910,942,000

Q4 revenue $243.7M (+10% YoY); net income $38.9M ($1.58 diluted EPS) vs $32.0M ($1.30) in Q4 2023.
Full-year 2024 net income $231.7M ($9.43 diluted EPS); adjusted EPS $5.93 excluding $180M WillScot termination fee and $63.2M transaction costs.
Mobile Modular rental revenues +8%, Adj. EBITDA +13%; Portable Storage rentals -15%, Adj. EBITDA -22%; TRS-RenTelco rentals -9%, Adj. EBITDA -8%.
Dividend raised to $0.485/share (+2%); payable April 30, 2025; record April 16, 2025; marks 34th consecutive annual increase.
2025 guidance: revenue $920-970M, Adj. EBITDA $345-360M, gross equipment capex $120-130M (vs 2024: $191M).

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