McGrath RentCorp Reports Q3 2026 Revenue Growth Driven by Data Center and AI Infrastructure Demand
McGrath RentCorp (MGRC) reported third-quarter revenue of $274.6 million, a 7% increase year-over-year, driven largely by strong performance in its TRS-RenTelco segment. This segment saw a 26% revenue surge due to high demand for projects supporting data center and AI infrastructure build-outs. Net income rose to $48.8 million ($2.00 per diluted share) compared to $42.3 million in the prior year. Despite strong rental performance, the company lowered its full-year revenue guidance to a range of $945 million to $960 million due to delays in completing modular sales projects. To capitalize on long-term demand, McGrath increased its gross rental equipment capital expenditures guidance significantly to between $270 million and $290 million. While large commercial sectors show momentum, management noted that smaller local construction markets remain challenging.
Tickers: $MGRC
Topics: Data Center Infrastructure Demand EBITDA Guidance Revision Modular Construction Revenue Growth