MGRC — what changed in the latest 10-Q
A section-by-section comparison of MGRC's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-28 vs the prior 10-Q · 2026-07-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +8 | −10 | ~75 | 58 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | 0 | 0 | 0 | 3 |
| Other information | Text added/removed | +2 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-28
Interest expense decreased $0.2 million, or 3%, to $8.0 million, which was primarily attributed to a lower effective interest rate in 2026 of 5.31%, compared to 5.81% for the same period in 2025, partly offset by $36.9 million higher average debt levels of the Company.
Pre-tax income contribution by Mobile Modular, Portable Storage and TRS-RenTelco was 57%, 6% and 19%, respectively, compared to 70%, 10% and 15%, respectively, for the comparable 2025 period. These results are discussed on a segment basis below. Enviroplex pre-tax income contribution was 18% in 2026…
The provision for income taxes resulted in an effective tax rate of 26.0% and 27.7%, for the quarters ended September 30, 2026 and 2025, respectively.
For the three months ended September 30, 2026, Mobile Modular’s total revenues decreased $1.5 million, or 1%, to $179.9 million compared to the same period in 2025, primarily due to lower sales revenues, partly offset by higher rental operations revenues. Higher gross profit on rental operations rev…
Cash Flows from Operating Activities: The Company’s operations provided net cash of $178.0 million in 2026, compared to $174.8 million in 2025. The $3.2 million increase in net cash provided by operating activities was primarily attributable to a $19.5 million increase in accrued expenses in 2026, p…
Text removed vs the prior filing · source: 10-Q · 2026-07-29
Other income, net, increased $1.8 million due to the gain on sale of a corporate property in 2026.
Interest expense decreased $0.7 million, or 9%, to $7.1 million, which was primarily attributed to a lower effective interest rate in 2026 of 4.95%, compared to 5.56% for the same period in 2025, partly offset by $14.0 million higher average debt levels of the Company.
Pre-tax income contribution by Mobile Modular, Portable Storage and TRS-RenTelco was 61%, 10% and 29%, respectively, compared to 61%, 13% and 16%, respectively, for the comparable 2025 period. These results are discussed on a segment basis below. Enviroplex pre-tax income contribution was less than …
The provision for income taxes resulted in an effective tax rate of 27.0% and 27.3%, for the quarters ended June 30, 2026 and 2025, respectively.
For the three months ended June 30, 2026, Mobile Modular’s total revenues decreased $5.6 million, or 4%, to $150.4 million compared to the same period in 2025, primarily due to lower sales revenues, partly offset by higher rental operations revenues. Higher gross profit on rental related services re…
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-28
Tara Wescott, Senior Vice President, Chief Human Resources Officer
With the exception of Mrs. Wescott, no other Company director or Section 16 officer adopted, modified or terminated a 10b5-1 plan or a "non-Rule 10b5-1 trading arrangement" (as such terms are defined under Item 408 of Regulation S-K), during the quarter ended September 30, 2026.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice