EquipmentShare.com (EQPT) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 55% YoY to $1.468B; Rental Segment revenue increased 49% and Adjusted EBITDA rose 52%, with margins expanding YoY and sequentially.

• OEC under management grew 32% to $10.663B; strong fleet absorption, location productivity and megaproject demand supported higher FY2026 guidance.

Financial highlights

• Q3 Adjusted Core EBITDA was $594M, up 40% YoY; operating income increased to $117M from $64M and gross profit reached $462M from $306M.

• Net income was $20M vs. $6M; Adjusted Net Income was $46M, excluding $26M of IPO Founders Awards stock compensation.

• Q3 revenue mix included rental and related services of $985M, equipment sales of $294M, parts and services of $122M, and platform revenue of $67M.

• Q3 OWN Program payouts were $254M, up 37% YoY; equipment sales to OWN Program participants were $243M vs. $104M.

Outlook and guidance

• FY2026 guidance: total revenue $5.808B–$6.045B, Rental Segment revenue $3.823B–$3.979B, and Adjusted Core EBITDA $2.136B–$2.224B.

• Guidance includes $11.391B–$11.613B OEC, 427–435 full-service rental locations, gross rental CapEx of $2.664B–$2.886B and net rental CapEx of $980M–$1.060B.

• Full-year rental margin is expected to be ~43%, over 100 bps above 2025; management cited confidence in guidance and potential to outperform.

• Management expects continued growth and margin expansion into 2027, citing multi-year project visibility and a supportive demand backdrop.