MGRC

EX-99.1

2 mgrc-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Contact

Keith E. Pratt

EVP & Chief Financial Officer

925-606-9200

PRESS RELEASE

FOR RELEASE October 28, 2026

McGrath Announces Results for Third Quarter 2026

Livermore, CA - October 28, 2026 – McGrath RentCorp (“McGrath” or the “Company”) (Nasdaq: MGRC), a leading business-to-business rental company in North America, today announced total revenues for the quarter ended September 30, 2026 of $274.6 million, an increase of 7% compared to the third quarter of 2025. The Company reported net income of $48.8 million, or $2.00 per diluted share, for the third quarter of 2026, compared to net income of $42.3 million, or $1.72 per diluted share, for the third quarter of 2025. The increases in net income and earnings per diluted share for the quarter were primarily attributed to higher gross profit on rental operations and sales revenues when compared to the third quarter of 2025.

THIRD QUARTER 2026 YEAR-OVER-YEAR Company HIGHLIGHTS:

• Rental operations revenues increased 6% to $189.5 million.

• Sales revenues increased 9% to $82.9 million.

• Total revenues increased 7% to $274.6 million.

• Income from operations increased 11% to $73.9 million.

• Adjusted EBITDA1 increased 10% to $106.5 million.

• Dividend rate of $0.495 per share for the third quarter 2026. On an annualized basis, this dividend represents a 1.7% yield on the October 27, 2026 close price of $119.56 per share.

Phil Hawkins, President and CEO of McGrath, made the following comments:

“We were pleased with our third quarter results. The 7% increase in companywide revenues was primarily driven by higher rental operations, reflecting steady progress at Mobile Modular and TRS-RenTelco.

Modular rental revenues increased 4% compared to last year, with continued growth from our commercial customer base. Consistent with the first half of this year, we experienced positive business momentum during the quarter, particularly with large commercial projects and progress with our regional expansion efforts. We responded to this momentum with additional capital investments in new rental fleet.

Portable Storage rental revenues decreased 3% as market demand conditions remained soft. Consistent with the first half of this year, higher costs for equipment preparation, trucking and sales coverage continued to pressure margins in the quarter.

TRS had another impressive quarter with rental revenues increasing 26%. Demand remained robust throughout the quarter, and the business continued to benefit from projects supporting buildout of new data centers. We made additional investments in rental fleet to support the strong market conditions and positive outlook for the business.

Our updated outlook for the year reflects continued positive rental operations momentum and investment at Mobile Modular and TRS, partly offset by lower Modular new equipment sales. We are focused on disciplined operational execution and capitalizing on our rental operations momentum through the remainder of the year.”

Division HIGHLIGHTS:

All comparisons presented below are for the quarter ended September 30, 2026 to the quarter ended September 30, 2025 unless otherwise indicated.

Mobile Modular

For the third quarter of 2026, the Company’s Mobile Modular division reported Adjusted EBITDA of $62.6 million, a decrease of $1.9 million, or 3%, when compared to the same quarter in 2025.

• Rental revenues increased 4% to $86.9 million, depreciation expense increased 11% to $12.0 million and other direct costs increased 7% to $25.9 million, which resulted in an increase in gross profit on rental revenues of 2% to $49.0 million.

• Rental related services revenues was comparable to the prior year at $44.6 million, primarily attributable to higher delivery and dismantle revenues, partly offset by lower site related service revenues, with associated gross profit increasing 7% to $15.7 million.

• Sales revenues decreased 10% to $47.1 million, primarily due to lower new equipment sales. Lower sales revenues and a comparable gross margin on sales of 36% in 2026, resulted in a 10% decrease in gross profit on sales revenues to $16.8 million.

• Selling and administrative expenses increased 8% to $38.3 million, when compared to the prior year.

Portable storage

For the third quarter of 2026, the Company’s Portable Storage division reported Adjusted EBITDA of $7.4 million, a decrease of $1.9 million, or 20%, when compared to the same quarter in 2025.

• Rental revenues decreased 3% $16.8 million, depreciation expense increased 5% to $1.1 million, and other direct costs increased 1% to $2.2 million, which resulted in a decrease in gross profit on rental revenues of 4% to $13.4 million.

• Rental related services revenues increased 5% to $4.4 million, primarily attributable to higher delivery and return delivery activities. Gross margin on rental related services was negative 25% compared to negative 13% in 2025, primarily due to

EX-99.1

2 mgrc-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Contact

Keith E. Pratt

EVP & Chief Financial Officer

925-606-9200

PRESS RELEASE

FOR RELEASE July 29, 2026

McGrath Announces Results for Second Quarter 2026

Livermore, CA - July 29, 2026 – McGrath RentCorp (“McGrath” or the “Company”) (Nasdaq: MGRC), a leading business-to-business rental company in North America, today announced total revenues for the quarter ended June 30, 2026 of $221.1 million, a decrease of 6% compared to the second quarter of 2025. The Company reported net income of $33.7 million, or $1.37 per diluted share, for the second quarter of 2026, compared to net income of $36.0 million, or $1.46 per diluted share, for the second quarter of 2025. The decreases in net income and earnings per diluted share for the quarter were primarily attributed to lower gross profit on sales revenues when compared to the second quarter of 2025.

SECOND QUARTER 2026 YEAR-OVER-YEAR Company HIGHLIGHTS:

• Rental operations revenues increased 6% to $172.5 million.

• Sales revenues decreased 34% to $46.4 million.

• Total revenues decreased 6% to $221.1 million.

• Other income, net increased $1.8 million as a result of the sale of a corporate property.

• Income from operations decreased 7% to $53.3 million.

• Adjusted EBITDA1 decreased 4% to $82.8 million.

• Dividend rate of $0.495 per share for the second quarter 2026. On an annualized basis, this dividend represents a 1.7% yield on the July 28, 2026 close price of $119.98 per share.

Phil Hawkins, President and CEO of McGrath, made the following comments:

“Our strong rental operations revenues were the highlight of the second quarter and we were pleased to see momentum building in our two largest rental businesses. Both Mobile Modular and TRS grew rental revenue and improved utilization sequentially while Portable Storage rental revenues were stable. Sales revenues for the quarter were lower than a year ago, due to lower sales at Enviroplex and Mobile Modular, as delays caused several new sales projects to shift to the second half of the year.

Modular rental revenues increased 2% compared to last year, with continued growth from our commercial customer base. We experienced positive business momentum during the quarter, particularly with large commercial projects and progress with our regional expansion efforts. Shipments exceeded returns for each month of the quarter, and average utilization improved slightly from the first to second quarter.

Portable Storage rental revenues were flat as commercial construction project activity remained soft. Higher costs for equipment preparation, trucking and sales coverage continued to pressure margins in the quarter.

TRS-RenTelco had an impressive quarter, as strong market conditions supported 17% rental revenue growth. Demand was robust throughout the quarter, and the business benefited from projects supporting buildout of new data centers.

Overall, we are encouraged by our progress. Modular utilization improvement and execution on our strategic growth initiatives in the quarter set us up well for the second half of the year. While there are still some challenges in the macro environment, we remain focused on the growth levers within our control.”

Division HIGHLIGHTS:

All comparisons presented below are for the quarter ended June 30, 2026 to the quarter ended June 30, 2025 unless otherwise indicated.

Mobile Modular

For the second quarter of 2026, the Company’s Mobile Modular division reported Adjusted EBITDA of $50.7 million, a decrease of $2.3 million, or 4%, when compared to the same quarter in 2025.

• Rental revenues increased 2% to $81.9 million, depreciation expense increased 9% to $11.7 million and other direct costs increased 9% to $26.1 million, which resulted in a decrease in gross profit on rental revenues of 4% to $45.4 million.

• Rental related services revenues increased 8% to $34.8 million, primarily attributable to higher delivery and installation revenues, with associated gross profit increasing 8% to $12.7 million.

• Sales revenues decreased 23% to $31.2 million, primarily due to lower new equipment sales. Lower sales revenues partly offset by higher gross margin on sales of 36% in 2026, compared to 32% in 2025, resulted in a 14% decrease in gross profit on sales revenues to $11.1 million.

• Selling and administrative expenses increased 2% to $37.4 million, when compared to the prior year.

Portable storage

For the second quarter of 2026, the Company’s Portable Storage division reported Adjusted EBITDA of $7.6 million, a decrease of $2.2 million, or 23%, when compared to the same quarter in 2025.

• Rental revenues were comparable to 2025 at $16.9 million, depreciation expense increased 6% to $1.1 million, and other direct costs increased 18% to $2.3 million, which resulted in a decrease in gross profit on rental revenues of 4% to $13.5 million.

• Rental related services revenues increased 3% to $4.5 million, prima

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