McGrath RentCorp (MGRC) Q2 2026 Earnings Miss: What Investors Need to Know
As seen on the 24/7 Wall St. homepage on July 29, 2026.
McGrath RentCorp missed on both EPS and revenue as delayed project conversions crushed Enviroplex sales, but the company raised full-year EBITDA guidance and data center demand is firing TRS-RenTelco rental revenue up 17%.
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McGrath RentCorp reported Q2 2026 earnings per share of $1.37, falling about 6% short of the $1.4625 consensus estimate. Revenue came in at $221.1 million, also missing expectations of roughly $236.5 million by about 6.5%. The company pointed to delayed project conversions as the culprit behind weak Enviroplex sales, a headwind that weighed on both the top and bottom lines.
Not everything in the quarter pointed downward. TRS-RenTelco, McGrath's electronics test and measurement rental segment, posted a 17% jump in rental revenue, driven by strong demand from data center buildouts — one of the more closely watched growth drivers for the company. That momentum appears to have given management enough confidence to raise its full-year EBITDA guidance despite the quarterly shortfall.
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Looking at the recent revenue trend, Q2 2026's $221.1 million represents a sequential decline from Q1 2026's $198.5 million baseline but remains well below the peaks seen in Q3 and Q4 2025, when revenue topped $256 million. Investors will be watching whether the Enviroplex project delays resolve in the back half of the year and whether TRS-RenTelco's data center tailwind can help McGrath close the gap on its raised annual targets.
Mentioned: MGRC