Filing Flows › McGrath Rentcorp (MGRC) › Q3 2025
McGrath Rentcorp (MGRC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 23, 2025
McGrath Rentcorp (MGRC) reported revenue of $256M for the third quarter 2025 (Q3 2025), -4% from a year earlier and +9% from the quarter before. Operating margin was 26.0%, net earnings $42.3M (16.5% of revenue).
McGrath Rentcorp, Q3 2025: revenue $256M (-4% year over year), operating margin 26.0%, net earnings $42.3M, operating cash flow $65.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $256M | +9% | -4% |
| Gross profit | $119M | +8% | -4% |
| Operating profit | $66.7M | +17% | -11% |
| Net earnings | $42.3M | +18% | -72% |
| Operating cash flow | $65.1M | +17% | -67% |
| Free cash flow | $53.5M | +40% | -72% |
What changed
Revenue was $256.4M in Q3 2025, down 4% year over year and up 9% from the previous quarter. Mobile Modular was the largest line at 71% of revenue. Mobile Modular lost $9.9M year over year (down 5%), 96% of the total change.
Gross margin was 46.5%, unchanged from a year earlier. Operating profit was $66.7M, a 26.0% margin (down 2.0 points year over year). Operating expenses grew 7% against a revenue fall of 4%. Net earnings were $42.3M, down 72% year over year. The effective tax rate was 27.7%.
Operating cash flow was $65.1M (down 67% year over year), 154% of net earnings. Non-cash charges added back $27.0M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items used $7.0M. Capital expenditures of $11.6M left free cash flow of $53.5M.
Questions
What was McGrath Rentcorp's revenue in the third quarter 2025?
McGrath Rentcorp (MGRC) reported revenue of $256M for the third quarter 2025 (Q3 2025), -4% from a year earlier and +9% from the quarter before.
Was McGrath Rentcorp profitable in the third quarter 2025?
Operating profit was $66.7M (26.0% of revenue) and net earnings $42.3M.
Source: McGrath Rentcorp 10-Q on SEC EDGAR.