EquipmentShare Lifts 2026 Outlook After Faster Rental Growth

The Tip Desk · November 12, 2026 · 3 min read

Rental Segment revenue reached $1.113 billion as year-over-year growth accelerated to 49% from 39% in the second quarter.

EquipmentShare.com Inc (EQPT), a nationwide construction technology and equipment solutions provider, reported third-quarter rental growth that picked up from the second quarter and lifted full-year 2026 guidance.

Rental Segment revenue rose 49% year over year to $1.113 billion, up from 39% growth in the prior quarter. Total revenue was $1.468 billion, up 55% from a year earlier. The company attributed the rental increase to customer demand, fleet absorption, a larger managed fleet, and pricing and equipment mix.

Original Equipment Cost under management rose $812 million in the quarter to $10.663 billion, including $4.816 billion of EquipmentShare-owned fleet, $5.765 billion of OWN Program fleet, and $82 million on operating leases. Operational locations reached 448 after 18 openings, including 17 full-service rental sites and one building-materials location.

Rental Segment Adjusted EBITDA increased 52% year over year to $491 million. The margin expanded about 70 basis points from a year earlier and 130 basis points sequentially to 44%. Mature rental locations posted 54% Adjusted EBITDA margins on a trailing-twelve-month basis. The company said it expects 262 mature sites by year-end, up from 186 at the end of 2025.

Equipment Sales revenue was $294 million. The company said that included a $139 million increase in placements into the OWN Program, partially offset by a $12 million decline in sales of new and used equipment to contractors and other end users. Sales Segment Adjusted EBITDA was $44 million.

Net income was $20 million, compared with $6 million a year earlier, on $53 million of higher operating income, partly offset by $32 million of higher total other expense, net and $7 million of higher income tax provision. Adjusted Net Income, which excludes $26 million of stock-based compensation tied to IPO Founders Awards, was $46 million. Adjusted Core EBITDA rose $170 million to $594 million. New market start-up costs were $59 million.

Net rental equipment capex for the quarter was $590 million after gross purchases of $822 million. Total available liquidity was $2.298 billion, including $1.939 billion of undrawn availability on the asset-based revolving credit facility and $359 million of cash. Net leverage decreased to 3.4 times from 3.7 times a year earlier.

The company raised its year-ending December 31, 2026 outlook. Total revenue guidance is now $5.808 billion to $6.045 billion, versus a prior range of $5.254 billion to $5.682 billion. Rental Segment revenue guidance is $3.823 billion to $3.979 billion. Adjusted Core EBITDA guidance is $2.136 billion to $2.224 billion. OEC guidance is $11.391 billion to $11.613 billion. Full-service rental locations remain 427 to 435.

Founder and Chief Executive Officer Jabbok Schlacks said the company is confident in its full-year 2026 outlook and sees an opportunity to outperform it, citing visibility into customer demand.