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Dec 31, 2025
McGrath RentCorp Q4 2025 Earnings Report
McGrath RentCorp Q4 2025 Earnings Report
Key Takeaways
McGrath RentCorp delivered a strong fourth quarter with total revenues increasing 5% to $256.8 million and net income rising 28% to $49.8 million. Growth was primarily driven by robust performance in the TRS-RenTelco and Mobile Modular segments, offsetting softer demand in commercial construction for the Portable Storage business.
Total revenues increased 5% year-over-year to $256.8 million, driven by rental operations growth.
Net income reached $49.8 million, or $2.02 per diluted share, compared to $38.9 million in the prior year.
TRS-RenTelco saw significant growth with rental revenues up 13% and Adjusted EBITDA up 21%.
The company announced its 35th consecutive annual dividend increase to $0.495 per share.
Revenue by Segment
Forward Guidance
For the full-year 2026, McGrath RentCorp expects total revenue between $945 million and $995 million, with a focus on increased capital expenditures for rental equipment.
Positive Outlook
- Expected total revenue growth up to $995 million.
- Adjusted EBITDA projected up to $378 million.
- Significant increase in gross rental equipment CAPEX to $180M-$200M.
- Strengthened end markets in TRS-RenTelco.
- Stabilization signs in commercial construction demand.
Challenges Ahead
- Softness in commercial construction project activity.
- Fiscal policy uncertainty and government budgetary constraints.
- Macroeconomic factors including tariff actions.
- Uncertainty associated with the CEO transition.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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