MGRC — what changed in the latest 10-Q

Text added 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…

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• On April 1, 2026, the Company completed the acquisition of a regional provider of temporary modular space solutions for $11.4 million, subject to a holdback payment of $1.3 million. The acquisition expanded the Mobile Modular operations in the mid-west region of the United States. This acquisition w…

• Interest expense decreased $1.7 million, or 20%, to $6.5 million, which was primarily attributed to $47.3 million lower average debt levels of the Company and a lower effective interest rate in 2026 of 4.96%, compared to 5.70% for the same period in 2025.

• Pre-tax income contribution by Mobile Modular, Portable Storage and TRS-RenTelco was 65%, 11% and 25%, respectively, compared to 66%, 15% and 17%, respectively, for the comparable 2025 period. These results are discussed on a segment basis below. Enviroplex pre-tax income contribution was negative 1…

• The provision for income taxes resulted in an effective tax rate of 26.7% and 24.6%, for the quarters ended March 31, 2026 and 2025, respectively.

• For the three months ended March 31, 2026, Mobile Modular’s total revenues increased $2.5 million, or 2%, to $134.4 million compared to the same period in 2025, primarily due to higher rental operations revenues, partly offset by lower sales and other revenues. Higher gross profit on rental related …

Text added vs the prior filing · source: 10-Q · 2026-07-29

• During the quarter ended June 30, 2026, no 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).

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• During the three months ended March 31, 2026, one former Section 16 officer and a current director Joseph Hanna adopted a "Rule 10b5-1 trading arrangement" as such term is defined under Item 408 of Regulation S-K as noted below.

• Joseph Hannah, current Director and former President and CEO (retired as of April 3, 2026)

• Intended to satisfy the affirmative defense of Rule 10b5-1(c).

• Not intended to satisfy the affirmative defense of Rule 10b5-1(c).

• With the exception of Mr. Hanna, 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 March 31, 2026.