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Sunbelt Rentals Announces Fiscal Third Quarter 2026 Results

SUNB
  • Sunbelt Rentals Holdings, Inc. reported fiscal third quarter 2026 results for the period ended January 31, 2026, following its transition to NYSE listing on March 2, 2026, and to U.S. GAAP reporting.
  • Total revenue for the quarter reached $2,637 million, driven by a 2.6% increase in rental revenue to $2,443 million.
  • The company reported operating income of $492 million with an operating margin of 18.7% and net income of $290 million.
  • Adjusted earnings per share were $0.78, while adjusted EBITDA totaled $1,082 million with a margin of 41.0%.
  • Fiscal year-to-date 2026 net income was $1,099 million, with adjusted earnings per share of $2.98 and adjusted EBITDA of $3,610 million.
  • Year-to-date cash flow from operations was $2,834 million, resulting in free cash flow of $1,428 million.
  • Total shareholder returns for the year-to-date period amounted to $1,354 million, including $1,047 million in share buybacks and $307 million in dividends.
  • The company narrowed its full-year fiscal 2026 rental revenue growth outlook midpoint to 2%–3%, up from the previous 0%–4% range.
  • Gross capital expenditures outlook for 2026 was raised to a range of $2.2 billion to $2.3 billion, reflecting investments in mega projects and fleet replacement.
  • The new $1.5 billion share buyback program commenced on March 2, 2026, coinciding with the NYSE listing, following the completion of the prior program in February 2026.
  • North America General Tool segment rental revenue grew 1.6% to $1,410 million, while the North America Specialty segment saw a 4.4% increase to $851 million.
  • UK segment rental revenue increased 2.2% to $182 million, though revenue in local currency was 4% lower due to foreign exchange movements.
  • Long-term debt stood at $7,095 million as of January 31, 2026, with net leverage at 1.6x and net debt at $7,605 million.
  • The company invested $1.9 billion year-to-date in rental fleet capex, greenfield expansion, and ten bolt-on acquisitions.
  • Management confirmed a record $1.4 billion in free cash flow for the year-to-date period while maintaining a focus on safety and operational efficiency.
  • The interim dividend was increased to $0.375 per share, paid in February 2026, with plans to transition to quarterly dividends in fiscal 2027.