Filing Flows › McGrath Rentcorp (MGRC) › Q1 2026
McGrath Rentcorp (MGRC) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
McGrath Rentcorp (MGRC) reported revenue of $199M for the first quarter 2026 (Q1 2026), +2% from a year earlier and -23% from the quarter before. Operating margin was 21.9%, net earnings $27.0M (13.6% of revenue).
McGrath Rentcorp, Q1 2026: revenue $199M (+2% year over year), operating margin 21.9%, net earnings $27.0M, operating cash flow $42.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $199M | -23% | +2% |
| Gross profit | $96.9M | -25% | +0.5% |
| Operating profit | $43.4M | -41% | -5% |
| Net earnings | $27.0M | -46% | -4% |
| Operating cash flow | $42.4M | -48% | -21% |
| Free cash flow | $34.3M | -51% | -31% |
What changed
Revenue was $198.5M in Q1 2026, up 2% year over year and down 23% from the previous quarter. Mobile Modular was the largest line at 68% of revenue. Trs Ren Telco added $3.7M year over year (up 11%), 118% of the total change. Enviroplex declined 51%.
Gross margin was 48.8%, down 0.5 points from Q1 2025. Operating profit was $43.4M, a 21.9% margin (down 1.5 points year over year). Operating profit fell $2.2M even though revenue rose $3.1M versus Q1 2025, so costs grew faster than sales. Operating expenses grew 5% against revenue growth of 2%. Net earnings were $27.0M, down 4% year over year. The effective tax rate was 26.7%.
Operating cash flow was $42.4M (down 21% year over year), 157% of net earnings. Non-cash charges added back $27.8M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items used $15.3M. Capital expenditures of $8.0M left free cash flow of $34.3M.
Questions
What was McGrath Rentcorp's revenue in the first quarter 2026?
McGrath Rentcorp (MGRC) reported revenue of $199M for the first quarter 2026 (Q1 2026), +2% from a year earlier and -23% from the quarter before.
Was McGrath Rentcorp profitable in the first quarter 2026?
Operating profit was $43.4M (21.9% of revenue) and net earnings $27.0M.
Source: McGrath Rentcorp 10-Q on SEC EDGAR.