Company: MGRC
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001193125-25-248724
Chunk: 16

Company: MCGRATH RENTCORP
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 356,979 - $ 1,997,074
Rental equipment, net book value (period end) $ 1,051,703 220,139 119,840 - $ 1,391,682
Utilization (period end) 2 76.5 62.0 59.0
Average utilization 2 78.0 66.1 56.8
1.
Gross Enviroplex sales revenues were $ 40,762 and $ 30,593 for the nine months ended September 30, 2025 and 2024, respectively. There were no inter-segment sales to Mobile Modular in the nine months ended September 30, 2025 and $ 2 of inter-segment sales to Mobile Modular in the nine months ended September 30, 2024, which required elimination in consolidation.
2.
Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment excluding new equipment inventory and accessory equipment. The average utilization for the period is calculated using the average costs of rental equipment.
3.
The Significant Segment Expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
4.
Allocated corporate services costs are comprised of expenses incurred by the Company which are not directly incurred by each business segment as a part of their normal operations. These allocated indirect corporate costs primarily include wages and benefits, depreciation of corporate capital assets, information technology, legal, accounting and other administrative expenses.
5.
Other segment items for each reportable segment is primarily comprised of credit losses.

6.
During the nine months ended September 30, 2024, the Company received $ 180.0 million in cash proceeds and incurred $ 61.2 million in transaction costs attributed to the terminated merger with WillScot Mobile Mini.
No single customer accounted for more than10% of total revenues for the nine months ended September 30, 2025 and 2024. Revenues from foreign country customers accounted for2% of the Company’s total revenues for both comparable periods.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This Form 10-Q, including the following Management’s Discussion and Analysis of Financial Condition and Results of Operations (“ MD& A”), contains forward-looking statements under federal securities laws. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. Our actual results could differ materially from those indicated by forward-looking statements as