Quarterly ResultApr 29, 2026, 04:19 PM
MGRC Q1 Revenue +2% to $198.5M; EPS $1.10
AI Summary
McGrath RentCorp announced its first quarter 2026 results, with total revenues increasing 2% to $198.5 million. However, net income decreased to $27.0 million, or $1.10 per diluted share, compared to $28.2 million, or $1.15 per diluted share, in the prior year. Rental operations revenues saw a 5% increase, while sales revenues declined 13%. The company confirmed its full-year 2026 financial outlook, projecting total revenue between $945 million and $995 million and Adjusted EBITDA of $360 million to $378 million.
Key Highlights
- Total revenues increased 2% to $198.5 million.
- Net income decreased to $27.0 million from $28.2 million year-over-year.
- Diluted EPS was $1.10, down from $1.15 year-over-year.
- Rental operations revenues grew 5% to $162.2 million.
- Sales revenues decreased 13% to $34.0 million.
- Adjusted EBITDA decreased 1% to $74.1 million.
- TRS-RenTelco Adjusted EBITDA increased 16% to $20.9 million.
- Full-year 2026 total revenue outlook confirmed at $945-$995 million.