Sign in

MGRC on Nasdaq

MCGRATH RENTCORP

American equipment rental and leasing services company based in Livermore2

In its 2026 annual report the company says: “The Company is a diversified business-to-business rental company with three rental divisions: relocatable modular buildings, portable storage containers and electronic test equipment.”4 Its shares trade on Nasdaq under the symbol MGRC.2

Price unavailable

Last updated Oct 21, 2026.

Overview

Compare with Custom Truck One Source, Inc., EquipmentShare.com Inc or Aaron's, Inc., or pick any stock.

  • TickerMGRC on Nasdaq2
  • IndustryServices-Equipment Rental & Leasing, NEC2
  • HeadquartersLivermore, United States2
  • Incorporated inCA3
  • Business address5700 Las Positas Rd, Livermore, Ca 945513
  • Filer categoryLarge accelerated filer3
  • Legal formFor-Profit Corporation General Stock2
  • LEI254900EUH6IPWFQ834452
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O C T Corporation System, 91203 Glendale, United States2
  • Registered withSecretary of State, 9145162

See how the biggest companies compare on our leaderboards

McGrath RentCorp (the “Company”) is a California corporation organized in 1979 with corporate offices located in Livermore, California. The Company’s common stock is traded on the NASDAQ Global Select Market under the symbol “MGRC”. References in this report to the “Company”, “we”, “us”, and “ours” refer to McGrath RentCorp and its subsidiaries, unless the context requires otherwise.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

48.2%Gross margin5
25.8%Operating margin5
16.6%Net margin5
3.7%Revenue growth, 20255
12.6%Return on equity5
$211.3MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Non Lease Revenues brought in 35% of the revenue MCGRATH RENTCORP broke down this way in fiscal 2025.

  1. Non Lease Revenues$326.2M535%up 2% from 2024
  2. Product$269.2M529%up 3% from 2024
  3. Non Lease Sales$265.5M529%up 2% from 2024
  4. Non Lease Rental Related Services$58.9M56%up 9% from 2024
  5. Product and Service, Other$9.4M51%down 8% from 2024
  6. Non Lease Other$1.7M50%down 63% from 2024
Products and services by year
Products and services202320242025
Non Lease Revenues$267.8M$319.1M$326.2M
Product$207.2M$262.3M$269.2M
Non Lease Sales$205.0M$260.3M$265.5M
Non Lease Rental Related Services$58.6M$54.1M$58.9M
Product and Service, Other$12.2M$10.2M$9.4M
Non Lease Other$4.1M$4.7M$1.7M

Business segments

Mobile Modular brought in 68% of the revenue MCGRATH RENTCORP broke down this way in fiscal 2025.

  1. Mobile Modular$645.1M568%up 2% from 2024
  2. Trs Ren Telco$148.9M516%up 10% from 2024
  3. Portable Storage$92.8M510%down 2% from 2024
  4. Enviroplex$57.4M56%up 25% from 2024
Business segments by year
Business segments202320242025
Mobile Modular$562.2M$635.4M$645.1M
Trs Ren Telco$148.3M$135.2M$148.9M
Portable Storage$101.1M$94.5M$92.8M
Enviroplex$20.2M$45.8M$57.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue52¢$489.3M
  • Selling, general and admin22¢$211.4M
  • Other costs3¢$30.5M
  • Income tax6¢$56.8M
  • Profit17¢$156.3M

Out of $944.2M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending17¢$44.4M
  • Dividends paid19¢$47.9M
  • Kept or used elsewhere64¢$163.4M

Out of $255.7M of cash from operations.5

Financial statements

Revenue675$944.2M in 2025+719% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $115.3M$115.3M20192020: $128.4M$128.4M2020+11%2021: $128.8M$128.8M2021+0%2022: $155.2M$155.2M2022+21%2023: $831.8M$831.8M2023+436%2024: $910.9M$910.9M2024+10%2025: $944.2M$944.2M2025+4%
Gross profit67895$455.0M in 2025+71% since 2019
0$200.0M$400.0M$600.0M2019: $266.2M$266.2M20192020: $263.7M$263.7M2020−1%2021: $247.3M$247.3M2021−6%2022: $290.2M$290.2M2022+17%2023: $393.6M$393.6M2023+36%2024: $435.4M$435.4M2024+11%2025: $455.0M$455.0M2025+4%
Operating income67895$243.6M in 2025+72% since 2019
0$100.0M$200.0M$300.0M2019: $141.4M$141.4M20192020: $140.8M$140.8M2020−0%2021: $124.3M$124.3M2021−12%2022: $147.3M$147.3M2022+19%2023: $189.7M$189.7M2023+29%2024: $244.3M$244.3M2024+29%2025: $243.6M$243.6M2025−0%
Net income67895$156.3M in 2025+61% since 2019
0$100.0M$200.0M$300.0M2019: $96.8M$96.8M20192020: $102.0M$102.0M2020+5%2021: $89.7M$89.7M2021−12%2022: $115.1M$115.1M2022+28%2023: $174.6M$174.6M2023+52%2024: $231.7M$231.7M2024+33%2025: $156.3M$156.3M2025−33%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Rental$503.9M$489.9M$474.3M
Rental related services$161.7M$148.5M$138.2M
Rental operations$665.6M$638.4M$612.5M
Total revenues$944.2M$910.9M$831.8M
Depreciation of rental equipment$86.9M$88.3M$88.9M
Rental related services$112.0M$103.4M$96.6M
Other$118.3M$109.1M$114.9M
Total direct costs of rental operations$317.3M$300.8M$300.5M
Costs of sales$172.0M$174.7M$137.7M
Total costs of revenues$489.3M$475.5M$438.2M
Gross profit$455.0M$435.4M$393.6M
Selling and administrative expenses$211.4M$200.4M$207.5M
Other income, net-$9.3M-$3.6M
Income (loss) from operations$243.6M$244.3M$189.7M
Interest expense$30.6M$47.2M$40.6M
Foreign currency exchange (gain) loss-$80.0K$215.0K-$310.0K
Gain on merger termination from WillScot Mobile Mini (Note 1)-$180.0M
WillScot Mobile Mini transaction costs$63.2M
Income from continuing operations before provision for income taxes$213.1M$313.6M$149.5M
Provision for income taxes from continuing operations$56.8M$81.9M$37.6M
Income from continuing operations$156.3M$231.7M$111.9M
Income from discontinued operations before provision for income taxes$1.7M
Provision for income taxes from discontinued operations$453.0K
Gain on sale of discontinued operations, net of tax$61.5M
Income from discontinued operations$62.8M
Net income$156.3M$231.7M$174.6M
Basic$6$9$5
Diluted$6$9$5
Basic$3
Diluted$3
Basic$6.35$9.44$7.14
Diluted$6.35$9.43$7.12
Basic24.6M shares24.5M shares24.5M shares
Diluted24.6M shares24.6M shares24.5M shares
Cash dividends declared per share$1.94$1.90$1.86

Compare MCGRATH RENTCORP with another company

Corporate structure

MCGRATH RENTCORP sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of MCGRATH RENTCORP

  • MCGRATH RENTCORP Livermore, California, United States
    • TRS-Rentelco India Pvt. Ltd. Branch · Livermore, California, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What MCGRATH RENTCORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Construction in progress$14.7M5 Dec 31, 2025$15.1M5 Dec 31, 2024−2.7%
Property and equipment, before depreciation$317.4M5 Dec 31, 2025$273.4M5 Dec 31, 2024+16.1%
Accumulated depreciation$98.6M5 Dec 31, 2025$91.0M5 Dec 31, 2024+8.3%
Property and equipment, net$218.8M5 Dec 31, 2025$182.3M5 Dec 31, 2024+20.0%
Operating-lease assets (leased space)$12.9M5 Dec 31, 2025$12.6M5 Dec 31, 2024+2.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$295.0K5 Dec 31, 2025$807.0K5 Dec 31, 2024−63.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$332.6M5 Dec 31, 2025$323.2M5 Dec 31, 2024+2.9%
Intangible assets, net (excluding goodwill)$46.6M5 Dec 31, 2025$54.3M5 Dec 31, 2024−14.2%
Finite-lived intangibles, gross$88.5M5 Dec 31, 2025$85.8M5 Dec 31, 2024+3.2%
Accumulated amortization-$42.1M5 Dec 31, 2025-$31.6M5 Dec 31, 2024−33.2%
Finite-lived intangibles, net$46.4M5 Dec 31, 2025$54.2M5 Dec 31, 2024−14.3%

Inventory

ItemLatestA year beforeChange
Inventory, total$8.0M5 Dec 31, 2025$14.3M5 Dec 31, 2024−43.9%
Raw materials$3.4M5 Dec 31, 2024$3.9M5 Dec 31, 2023−13.4%
Work in process$10.9M5 Dec 31, 2024$4.1M5 Dec 31, 2023+165.0%

Properties, in its own words

The Company’s corporate and administrative offices are located in Livermore, California in approximately 26,000 square feet. At December 31, 2025, the Company’s four reportable business segments conducted operations from the following locations:

Mobile Modular and Portable Storage – Mobile Modular and Portable Storage operate from 28 owned and 54 leased locations. Our largest owned facilities include nine inventory centers, at which relocatable modular buildings and storage containers are displayed, refurbished and stored:

The rest of Item 2

Livermore, California (140 acres in the San Francisco Bay Area),

Mira Loma, California (82 acres in the Los Angeles area),

Selma, California (23 acres in the Fresno area),

Pasadena, Texas (50 acres in the Houston area),

Grand Prairie, Texas (30 acres in the Dallas area),

Auburndale, Florida (123 acres in the Orlando area),

Arcade, Georgia (60 acres in the Atlanta area),

Fredericksburg, Virginia (68 acres in the Washington D.C. area),

Concord, North Carolina (111 acres in the Charlotte N.C. area).

The inventory centers conduct rental and sales operations from modular buildings, serving as working models of the Company’s modular product.

TRS-RenTelco – Electronic test equipment rental and sales operations are conducted from a 117,000 square foot leased facility in Grapevine, Texas (Dallas area) and a sales office in Dollard-des-Ormeaux, Quebec (Montreal, Canada area).

Enviroplex – The Company’s wholly owned subsidiary, Enviroplex, manufactures modular buildings used primarily as classrooms in California from its own 108,000 square foot facility in Stockton, California (San Francisco Bay Area).

Item 2 of the 10-K filed Feb 25, 2026.4

Leadership

Who has led MCGRATH RENTCORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Dennis C. Kakures2006–2016
  2. Joseph F. Hanna2017–2026
  3. Philip B. Hawkins2026–now

Chair

  1. Robert P. McGrath2006

President

  1. Dennis C. Kakures2006–2008
  2. Steven H. Adler2008–2015
  3. Joseph F. Hanna2017–2026
  4. Philip B. Hawkins2026–now

Chief financial officer

  1. Keith E. Pratt2007–now

Chief operating officer

  1. Joseph F. Hanna2008–2016
  2. Philip B. Hawkins2025–now
2010201520202025
Board members and other officers (30)

Timeline

  1. Aug 13, 2026New chief executive Philip B. Hawkins becomes CEO13
  2. Jul 29, 20268-K Results of operations49
  3. Jun 5, 20268-K Shareholder vote50
  4. May 11, 20268-K Entered a material agreement; New debt or obligation; Regulation FD disclosure51
  5. Apr 29, 20268-K Results of operations52
  6. Feb 25, 20268-K Results of operations53
  7. Feb 5, 20268-K Executive or director change; Bylaws or fiscal year changed54
  8. Oct 23, 20258-K Results of operations55
  9. Sep 8, 20258-K New debt or obligation56
  10. Jul 24, 20258-K Results of operations57
  11. Jun 5, 20258-K Shareholder vote58
  12. Apr 24, 20258-K Results of operations59
  13. Mar 21, 20258-K Other events60
  14. Mar 6, 2017New chief executive Joseph F. Hanna becomes CEO14
  15. May 11, 2006New chief executive Dennis C. Kakures becomes CEO15
  16. Mar 27, 1979Founded MCGRATH RENTCORP is founded2

Calendar

Coming up

  1. Oct 28, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $1.72 a share, on Oct 23, 2025.61

When it reported results

  1. Jul 29, 2026Reported quarterly or annual results49
  2. Apr 29, 2026Reported quarterly or annual results52
  3. Feb 25, 2026Reported quarterly or annual results53
  4. Oct 23, 2025Reported quarterly or annual results55
  5. Jul 24, 2025Reported quarterly or annual results57
  6. Apr 24, 2025Reported quarterly or annual results59
  7. Feb 19, 2025Reported quarterly or annual results62
  8. Oct 24, 2024Reported quarterly or annual results63

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

412 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 46 major events, 253 insider forms, 23 large holders, 69 other. The latest 20:

  1. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  2. Oct 1, 2026144 EDGAR
  3. Aug 20, 20264 PRIMARY DOCUMENT EDGAR
  4. Aug 18, 2026144 EDGAR
  5. Aug 14, 20264 PRIMARY DOCUMENT EDGAR
  6. Aug 13, 20264 PRIMARY DOCUMENT EDGAR
  7. Aug 13, 20264 PRIMARY DOCUMENT EDGAR
  8. Aug 11, 2026144 EDGAR
  9. Aug 11, 2026144 EDGAR
  10. Jul 29, 202610-Q EDGAR
  11. Jul 29, 20268-K EDGAR
  12. Jul 2, 20264 PRIMARY DOCUMENT EDGAR
  13. Jul 1, 2026144 EDGAR
  14. Jun 29, 20264 PRIMARY DOCUMENT EDGAR
  15. Jun 25, 2026144 EDGAR
  16. Jun 16, 20264 PRIMARY DOCUMENT EDGAR
  17. Jun 15, 2026144 EDGAR
  18. Jun 12, 20264 PRIMARY DOCUMENT EDGAR
  19. Jun 12, 20264 PRIMARY DOCUMENT EDGAR
  20. Jun 5, 20268-K EDGAR

The 412 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

57 open-market trades by officers, directors and large owners since October 2021: 0 buys and 57 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 18, 2026Wescott TaraSVP, Chief HR OfficerSale1,325$122.00$161.7KForm 4
Aug 11, 2026Skenesky John PVP and Division ManagerSale2,000$120.41$240.8KForm 4
Aug 11, 2026Hawkins Philip BPresident and CEOSale4,435$120.91$536.3KForm 4
Jul 1, 2026HANNA JOSEPH FDirectorSale7,500$120.64$904.8KForm 4
Jun 26, 2026Lieffrig JohnVP and Division ManagerSale500$125.00$62.5KForm 4
Jun 25, 2026Lieffrig JohnVP and Division ManagerSale2,000$125.00$250.0KForm 4
Jun 15, 2026Malek GildaSVP, Chief Legal OfficerSale1,407$114.04$160.5KForm 4
Jun 10, 2026VAN TREASE KRISTINAChief Strategy OfficerSale3,783$113.65$429.9KForm 4
Jun 10, 2026Whitney David MSVP, Chief Accounting OfficerSale3,783$113.65$429.9KForm 4
May 15, 2026VAN TREASE KRISTINAChief Strategy OfficerSale539$115.00$62.0KForm 4
May 15, 2026Whitney David MSVP, Chief Accounting OfficerSale539$115.00$62.0KForm 4
May 5, 2026HANNA JOSEPH FDirectorSale530$112.00$59.4KForm 4
May 4, 2026HANNA JOSEPH FDirectorSale9,470$112.49$1.1MForm 4
Dec 15, 2025Malek GildaSVP, Chief Legal OfficerSale829$107.29$88.9KForm 4
Aug 6, 2025Box Kimberly AnnDirectorSale1,500$118.50$177.8KForm 4
Jul 30, 2025PRATT KEITH EExecutive VP and CFOSale3,000$127.17$381.5KForm 4
Jul 29, 2025HANNA JOSEPH FDirectorSale14,577$126.55$1.8MForm 4
Jul 29, 2025PRATT KEITH EExecutive VP and CFOSale7,000$125.65$879.5KForm 4
Jun 6, 2025Whitney David MSVP, Chief Accounting OfficerSale2,221$114.21$253.7KForm 4
Jun 6, 2025VAN TREASE KRISTINAChief Strategy OfficerSale2,221$114.21$253.7KForm 4

All 57 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Joseph F. Hanna63$875.0K$6.5M73
2025Keith E. Pratt63$540.0K$3.4M73
2025Philip B. Hawkins50$500.0K$1.7M73
2025Gilda Malek57$455.0K$1.6M73
2025Kristina E. Van Trease56$380.0K$1.1M73
2024Former President and Chief$850.0K$5.5M73
2024Executive VicePresident,$520.0K$2.1M73
2024President and Chief Executive$450.0K$1.5M73
2024Senior Vice PresidentChief Legal$440.0K$1.2M73
2023Executive Officer$800.0K$4.8M73
2023Chief Financial Officer and$500.0K$1.7M73
2023Officer$380.0K$1.2M73
2023Strategy Officer$330.0K$1.1M73
2023Officer and Corporate Secretary$313.4K$947.5K73

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.2,089,066$252.8M0.0%+148,544
River Road Asset Management, LLC2,046,345$247.7M2.8%−114,492
Vanguard Portfolio Management LLC1,424,824$172.4M0.0%+17,810
Vanguard Capital Management LLC1,105,970$133.9M0.0%−4,124
Dimensional Fund Advisors LP975,053$118.0M0.0%+68,099
Channing Capital Management, LLC835,246$101.1M2.3%+23,018
Victory Capital Management Inc705,334$85.4M0.0%−104,590
Geode Capital Management, LLC676,028$81.8M0.0%+45,790
Fmr LLC631,856$76.5M0.0%+299,361
State Street Corp629,987$76.2M0.0%+45,607
Snyder Capital Management L P475,324$57.5M1.0%−11,649
Morgan Stanley453,886$54.9M0.0%−39,649
Loomis Sayles & Co L P377,251$45.7M0.1%−19,312
Silvercrest Asset Management Group LLC357,145$43.2M0.3%+35,438
Clearbridge Investments, LLC353,791$42.8M0.0%+7,144
Alyeska Investment Group, L.P.330,702$40.0M0.1%+93,196
Capital World Investors330,106$40.0M0.0%+9,006
Ameriprise Financial Inc315,769$38.2M0.0%+26,790
Capital Research Global Investors309,406$37.4M0.0%+4,312
Northern Trust Corp298,024$36.1M0.0%+6,033
Neumeier Poma Investment Counsel LLC295,108$35.7M2.4%+9,400
Charles Schwab Investment Management Inc285,593$34.6M0.0%+4,161
Schroder Investment Management Group274,850$33.4M0.0%+36,173
Raymond James Financial Inc268,267$32.5M0.0%−37,342
New York State Common Retirement Fund229,164$27.7M0.0%+17,020

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How MCGRATH RENTCORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMCGRATH RENTCORP1
  • CIK0000752714
  • Employer ID (EIN)94-25798434
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inCalifornia4
  • Fiscal year endsDecember 311
  • Industry code (SIC)7359 Services-Equipment Rental & Leasing, NEC1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address5700 Las Positas Rd, Livermore, CA 945511
  • Phone925-606-92001
  • Shares outstanding24,425,663 as of Jul 28, 202611
  • Public float$2.9T as of Jun 30, 20254
  • AuditorGRANT THORNTON LLP, San Francisco, California PCAOB ID 248; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceFeb 1, 19951
  • Filings1,740 in all: 4 (1,065), 8-K (178), SC 13G/A (124), 10-Q (95), 144 (39), DEF 14A (32), 10-K (27), SC 13G (26)1
    All 32 form types

    3 (22), 425 (17), UPLOAD (17), 11-K (14), ARS (13), CORRESP (12), 5 (10), 4/A (8), DEFA14A (7), 10-Q/A (5), 10-K405 (4), S-8 (4), SCHEDULE 13G/A (4), 8-K/A (3), SCHEDULE 13G (3), 10-K/A (2), PRE 14A (2), 10-K405/A (1), 11-K/A (1), ARS/A (1), DEFM14A (1), REGDEX (1), SC 13D (1), SC 13D/A (1)

  • Latest filingsAnnual report (10-K) Feb 25, 2026
    Quarterly report (10-Q) Jul 29, 2026
    Proxy statement (DEF 14A) Apr 24, 2026
    Latest 8-K (8-K) Jul 29, 2026

Securities registered for trading

ClassSymbolExchange
Common StockMGRCNASDAQ Global Select Market

From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks MCGRATH RENTCORP names in Item 1A of its 10-K filed Feb 25, 2026: 38 risks under these headings, as written.4

  • Our future operating results may fluctuate, fail to match past performance or fail to meet expectations, which may result in a decrease in our stock price.
  • Our stock price has fluctuated and may continue to fluctuate in the future, which may result in a decline in the value of your investment in our common stock.
  • Failure to successfully manage the transition associated with the appointment of our new Chief Executive Officer could have an adverse impact on our business.
  • Our ability to retain our executive management and to recruit, retain and motivate key qualified employees is critical to the success of our business.
  • Failure by third parties to manufacture and deliver our products to our specifications or on a timely basis may harm our reputation and financial condition.
  • We have engaged in acquisitions and may engage in future acquisitions that could negatively impact our results of operations, financial condition and business.
  • We continually assess the strategic fit of our existing businesses and may divest or otherwise dispose of businesses that are deemed not to fit with our strategic plan or are not achieving the desired return on investment, and we cannot be certain that our business, operating results and financial condition will not be materially and adversely affected.
  • If we determine that our goodwill and intangible assets have become impaired, we may incur impairment charges, which would negatively impact our operating results.
  • Our rental equipment is subject to residual value risk upon disposition and may not sell at the prices or in the quantities we expect.
  • If we do not effectively manage our credit risk, collect on our accounts receivable or recover our rental equipment from our customers’ sites, it could have a material adverse effect on our operating results.
  • Effective management of our rental assets is vital to our business. If we are not successful in these efforts, it could have a material adverse impact on our results of operations.
  • We are subject to information technology system failures, network disruptions and breaches in data security which could subject us to liability, reputational damage or interrupt the operation of our business.
The other 26 risks
  • Disruptions in our information technology systems or failure to protect these systems against security breaches could adversely affect our business and results of operations. Additionally, if these systems fail, become unavailable for any period of time or are not upgraded, this could limit our ability to effectively monitor and control our operations and adversely affect our operations.
  • The nature of our businesses, including the ownership of industrial property, exposes us to the risk of litigation and liability under environmental, health and safety and products liability laws. Violations of environmental or health and safety related laws or associated liability could have a material adverse effect on our business, financial condition and results of operations.
  • Our routine business activities expose us to risk of litigation from employees, vendors and other third parties, which could have a material adverse effect on our results of operations.
  • If we suffer loss to our facilities, equipment or distribution system due to catastrophe, our insurance policies could be inadequate or depleted, our operations could be seriously harmed, which could negatively affect our operating results.
  • Our debt instruments contain covenants that restrict or prohibit our ability to enter into a variety of transactions and may limit our ability to finance future operations or capital needs. If we have an event of default under these instruments, our indebtedness could be accelerated, and we may not be able to refinance such indebtedness or make the required accelerated payments.
  • The majority of our indebtedness is subject to variable interest rates, which makes us vulnerable to increases in interest rates, which could negatively affect our net income.
  • Significant reductions of, or delays in, funding to public schools have caused the demand and pricing for our modular classroom units to decline, which has in the past caused, and may cause in the future, a reduction in our revenues and profitability.
  • Fluctuations in the construction industry could cause the demand and pricing for our modular buildings and portable storage units to decline, which has in the past caused, and may cause in the future, a reduction in our revenues and profitability.
  • Public policies that create demand for our products and services may change, resulting in decreased demand for or the pricing of our products and services, which could negatively affect our revenues and operating income.
  • Expansions of our modular and portable storage operations into new markets may negatively affect our operating results.
  • Seasonality of our educational business may have adverse consequences for our modular building business.
  • We face strong competition in our modular building and portable storage markets and we may not be able to effectively compete.
  • We may not be able to quickly redeploy modular and container units returning from leases, which could negatively affect our financial performance and our ability to expand, or utilize, our rental fleet.
  • Significant increases in raw material and labor costs could increase our acquisition cost of new modular rental units and repair and maintenance costs of our fleet, which would increase our operating costs and harm our profitability.
  • Failure by third parties to manufacture our products timely or properly may harm our reputation and financial condition.
  • Failure to properly design, manufacture, repair and maintain the modular product may result in impairment charges, potential litigation and reduction of our operating results and cash flows.
  • Our warranty costs may increase and warranty claims could damage our reputation and negatively impact our revenues and operating income.
  • Market risk and cyclical downturns in the industries using test equipment may result in periods of low demand for our product resulting in excess inventory, impairment charges and reduction of our operating results and cash flows.
  • Seasonality of our electronic test equipment business may impact quarterly results.
  • Our rental test equipment may become obsolete or may no longer be supported by a manufacturer, which could result in an impairment charge.
  • If we do not effectively compete in the rental equipment market, our operating results will be materially and adversely affected.
  • If we are not able to obtain equipment at favorable rates, there could be a material adverse effect on our operating results and reputation.
  • Unfavorable currency exchange rates may negatively impact our financial results in U.S. dollar terms.
  • Our effective tax rate may change and become less predictable as our business expands, or as a result of federal and state tax law changes, making our future earnings less predictable.
  • Changes in financial accounting standards may cause lower than expected operating results and affect our reported results of operations.
  • Adverse economic conditions in the United States and globally, as well as geopolitical tensions, could have a negative effect on our business, results of operations, financial condition and liquidity.

Legal proceedings

The Company is involved in various lawsuits and routine claims arising out of the normal course of its business. The Company maintains insurance coverage for its operations and employees with appropriate aggregate, per occurrence and deductible limits as the Company reasonably determines necessary or prudent with current operations and historical experience. The major policies include coverage for property, general liability, cyber, auto, directors and officers, health, and workers’ compensation insurances. In the opinion of management, the ultimate amount of liability not covered by insurance, if any, under any pending litigation and claims, individually or in the aggregate, will not have a material adverse effect on the financial position or operating results of the Company.

The opening of Item 3, Legal Proceedings.4

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
    SEC EDGAROther events
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73