McGrath RentCorp (MGRC) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and McGrath RentCorp published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• McGrath RentCorp reports in thousands of dollars; figures here are converted to millions. Its fourth segment, Enviroplex, sells portable classrooms to California schools and has no rental revenue.

Source: McGrath RentCorp Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How McGrath RentCorp splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• McGrath RentCorp's Mobile Modular revenue was $180 million in Q3 2026, down 1% from $181 million in Q3 2025, 66% of total revenue.
• McGrath RentCorp's Portable Storage revenue was $23.7 million in Q3 2026, down 3% from $24.4 million in Q3 2025, 9% of total revenue.
• McGrath RentCorp's TRS-RenTelco revenue was $45.3 million in Q3 2026, up 23% from $36.9 million in Q3 2025, 17% of total revenue.
• McGrath RentCorp's Enviroplex revenue was $25.7 million in Q3 2026, up 88% from $13.7 million in Q3 2025, 9% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

McGrath's updated 2026 outlook: total revenue of $945 million to $960 million (previously $955 million to $985 million), Adjusted EBITDA of $365 million to $373 million (previously $363 million to $375 million), and gross rental equipment capital expenditures of $270 million to $290 million (previously $200 million to $220 million).

In its Q3 2026 release, McGrath RentCorp said:

“Based upon the Company's year-to-date results and current outlook for the remainder of the year, the Company is updating its financial outlook.”

“Total revenues is decreasing as a result of lower Mobile Modular new equipment sales.”

“Adjusted EBITDA range has narrowed with no change to mid-point expectations.”

“Gross rental equipment capital expenditures are increasing to support rental operations momentum at Mobile Modular and TRS-RenTelco.”

Source: McGrath RentCorp Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the MGRC forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted EPS, each as first reported in that quarter's release. McGrath's revenue is seasonal: most classrooms ship for rental and sale in the second and third quarters.

We do not hold a confirmed date for McGrath RentCorp's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

McGrath RentCorp rents and sells modular buildings, storage containers and electronic test equipment. In Q3 2026 rental operations revenues were $189.5 million and sales revenues $82.9 million, out of total revenues of $274.6 million. Mobile Modular, the modular buildings division, brought in $179.9 million of the total, TRS-RenTelco (test equipment) $45.3 million, Enviroplex $25.7 million and Portable Storage $23.7 million. (McGrath RentCorp Q3 2026 release, Oct 28, 2026)

TRS-RenTelco grew fastest: rental revenues rose 26% to $35.4 million, and McGrath said the business continued to benefit from projects supporting the buildout of new data centers. Mobile Modular rental revenues rose 4% to $86.9 million on growth from commercial customers, while its sales revenues fell 10% to $47.1 million because of lower new equipment sales. Portable Storage rental revenues fell 3% to $16.8 million as market demand remained soft. (McGrath RentCorp Q3 2026 release, Oct 28, 2026)

Enviroplex sales revenues rose to $25.7 million from $13.7 million. Enviroplex manufactures portable classrooms to the requirements of the California Division of the State Architect and sells directly to California public school districts and other educational institutions. (McGrath RentCorp Q3 2026 release, Oct 28, 2026; McGrath RentCorp Form 10-K, 2025, Feb 25, 2026)

Public schools are a large customer group for McGrath RentCorp. In 2025 rentals and sales of modulars to K-12 public schools made up 25% of consolidated rental and sales revenues, 27% of Mobile Modular's modular rental revenues and 45% of modular sales revenues. The 10-K says the highest numbers of classrooms ship in the second and third quarters, ahead of the school year. (McGrath RentCorp Form 10-K, 2025, Feb 25, 2026)

McGrath RentCorp reports GAAP EPS only, with no adjusted EPS. Diluted EPS was $2.00 in Q3 2026, against $1.72 a year earlier, on net income of $48.8 million, which McGrath attributed mainly to higher gross profit on rental operations and sales revenues. Its non-GAAP measure is Adjusted EBITDA, $106.5 million in the quarter, up 10%. (McGrath RentCorp Q3 2026 release, Oct 28, 2026)

The provision for income taxes was $17.2 million on pre-tax income of $66.0 million, a rate of about 26%. Diluted shares fell to 24,451 thousand from 24,644 thousand: McGrath repurchased 311,363 shares for $34.0 million during the first nine months of 2026, at an average price of $108.94. The quarterly dividend was $0.495 per share, against $0.485. (McGrath RentCorp Q3 2026 release, Oct 28, 2026; McGrath RentCorp Form 10-Q, Q3 2026, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

McGrath RentCorp gives a full-year outlook in its release. With Q3 2026 results it cut its 2026 total revenue range to $945 million to $960 million, from $955 million to $985 million, because of lower Mobile Modular new equipment sales. It narrowed Adjusted EBITDA to $365 million to $373 million, with no change to the midpoint, and raised gross rental equipment capital expenditures to $270 million to $290 million from $200 million to $220 million. (McGrath RentCorp Q3 2026 release, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover McGrath RentCorp, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones McGrath RentCorp's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MGRC is on is MGRC a buy or a sell?, what analysts expect next is on the MGRC forecast, and what the company does is on the McGrath RentCorp (MGRC) stock page.

Every number on this page can be traced to a document McGrath RentCorp published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.