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McGrath Rentcorp (MGRC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · McGrath Rentcorp (MGRC) Q3 2026 earnings results →
Q3 2026 Revenue up 7% year over year to $275M · 18¢ of every $1 of revenue kept as net profit · operating margin 26.9%
McGrath Rentcorp made $275M in Q3 2026 (+7% Y/Y): Mobile Modular $180M, Trs Ren Telco $45.3M, Enviroplex $25.7M. Operating margin 26.9%, net earnings $48.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
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What changed this quarter
Revenue was $274.6M in Q3 2026, up 7% year over year and up 24% from the previous quarter. Mobile Modular was the largest line at 66% of revenue. Enviroplex added $12.0M year over year (up 88%), 66% of the total change. Portable Storage declined 3%.
Gross margin was 47.7%, up 1.2 points from Q3 2025. Operating profit was $73.9M, a 26.9% margin (up 0.9 points year over year). Of the extra revenue versus Q3 2025, 40% reached operating profit, above the 26% margin then. Operating expenses grew 8% against revenue growth of 7%. Net earnings were $48.8M, up 15% year over year. The effective tax rate was 26.0%.
Operating cash flow was $72.3M (up 11% year over year), 148% of net earnings. Non-cash charges added back $29.7M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items used $9.0M. Capital expenditures of $18.6M left free cash flow of $53.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $275M | +7% | 26.9% | $48.8M | $72.3M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $221M | -6% | 24.1% | $33.7M | $63.3M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $199M | +2% | 21.9% | $27.0M | $42.4M |
| Q4 2025 | 10-K | Feb 25, 2026 | $257M | +5% | 28.9% | $49.8M | $80.9M |
| Q3 2025 | 10-Q | Oct 23, 2025 | $256M | -4% | 26.0% | $42.3M | $65.1M |
| Q2 2025 | 10-Q | Jul 24, 2025 | $236M | +11% | 24.3% | $36.0M | $55.8M |
| Q1 2025 | 10-Q | Apr 24, 2025 | $195M | +4% | 23.3% | $28.2M | $53.9M |
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About McGrath Rentcorp
McGrath RentCorp (the “Company”) is a California corporation organized in 1979 with corporate offices located in Livermore, California. The Company’s common stock is traded on the NASDAQ Global Select Market under the symbol “MGRC”. References in this report to the “Company”, “we”, “us”, and “ours” refer to McGrath RentCorp and its subsidiaries, unless the context requires otherwise. The Company is a diversified business-to-business rental company with three rental divisions: relocatable modular buildings, portable storage containers and electronic test equipment. Although the Company’s primary emphasis is on equipment rentals, sales of equipment occur in the normal course of business.
In its own words, from its 10-K, filed Feb 25, 2026.
McGrath Rentcorp against its Services-Equipment Rental & Leasing, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +11%. Operating margin: 26.9% against the peers' median 21.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MGRC McGrath Rentcorp | Q3 2026 | $275M | +7% | 26.9% |
| URI United Rentals | Q3 2026 | $4.9B | +16% | 28.8% |
| United Rentals North America | Q2 2026 | $4.4B | +12% | 25.8% |
| SUNB Sunbelt Rentals Holdings | Q1 FY27 | $3.1B | +11% | 22.2% |
| EQPT EquipmentShare.com | Q2 2026 | $1.4B | +26% | 6.4% |
| UPBD Upbound Group | Q3 2026 | $1.1B | -2% | 6.2% |
| PRG Prog Holdings | Q3 2026 | $726M | +26% | 9.1% |
| Sumisho Air Lease | Q3 2026 | $593M | -18% | 21.4% |
| CTOS Custom Truck One Source | Q3 2026 | $495M | +3% | 7.7% |
Source: McGrath Rentcorp 10-Q on SEC EDGAR · CIK 752714 · Services-Equipment Rental & Leasing, NEC
13F: who owns MGRC and who is buying
More on MGRC
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- McGrath Rentcorp gross margin by quarter
- McGrath Rentcorp operating margin by quarter
- McGrath Rentcorp net income by quarter
- McGrath Rentcorp free cash flow by quarter
- McGrath Rentcorp capital expenditures by quarter
- McGrath Rentcorp Mobile Modular revenue by quarter
- McGrath Rentcorp Trs Ren Telco revenue by quarter
- McGrath Rentcorp Enviroplex revenue by quarter