Business
McGrath Announces Results for Fourth Quarter 2025 and Announces 35th Annual Dividend Increase
LIVERMORE, Calif.--(BUSINESS WIRE)-- McGrath RentCorp (“McGrath” or the “Company”) (Nasdaq: MGRC), a leading business-to-business rental company in North
About this update from Mcgrath Rentcorp
[{"type":"text","content":" LIVERMORE, Calif.--(BUSINESS WIRE)--\nMcGrath 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 December 31, 2025 of $256.8 million, an increase of 5% compared to the fourth quarter of 2024. The Company reported net income of $49.8 million, or $2.02 per diluted share, for the fourth quarter of 2025, compared to net income of $38.9 million, or $1.58 per diluted share, for the fourth quarter of 2024.\n\n\nTotal revenues for the full year ended December 31, 2025 increased to $944.2 million, an increase of 4%, from $910.9 million in 2024, with adjusted EBITDA increasing $10.7 million, or 3%, to $362.5 million. Net income for the year ended December 31, 2025 was $156.3 million, or $6.35 per diluted share, compared to $231.7 million, or $9.43 per diluted share, in 2024. Excluding the $180.0 million merger termination payment received from WillScot Mobile Mini in 2024 and $63.2 million in transaction costs incurred, net of provision for income taxes, the Company's reported full year 2025 net income increased $10.9 million, or 7%, and diluted earnings per share increased $0.43, or 7%.\n\n\nThe Company also announced that the board of directors declared a cash dividend of $0.495 per share for the upcoming quarter ending March 31, 2026, a quarterly increase of $0.01, or 2%, over the prior year period. The cash dividend will be payable on April 30, 2026 to all shareholders of record on April 16, 2026. This marks 35 consecutive years the Company has increased its annual dividend.\n\n\nFOURTH QUARTER 2025 YEAR-OVER-YEAR COMPANY HIGHLIGHTS:\n\n\n\nRental operations revenues increased 6% to $170.0 million.\n\n\n\nSales revenues increased 5% to $84.4 million.\n\n\n\nTotal revenues increased 5% to $256.8 million.\n\n\n\nIncome from operations increased 18% to $74.2 million.\n\n\n\nAdjusted EBITDA1 increased 14% to $104.9 million.\n\n\n\nDividend rate of $0.485 per share for the fourth quarter 2025. On an annualized basis, this dividend represents a 1.7% yield on the February 24, 2026 close price of $114.48 per share.\n\n\n\nJoe Hanna, President and CEO of McGrath, made the following comments:\n\n\n“We were pleased with our strong fourth quarter results. The 5% increase in companywide revenues and 14% increase in Adjusted EBIT...