Sunbelt Rentals Holdings (SUNB) Q3 2026 earnings summary

Executive summary

• Fiscal Q3 2026 revenue reached $2,637 million, up 2.7% year-over-year, with rental revenue up 2.6% and sequential improvement from Q2.

• Net income for Q3 was $290 million, with adjusted EPS of $0.78; year-to-date net income was $1,099 million and adjusted EPS $2.98.

• Record free cash flow of $1,428 million year-to-date, up 83% year-over-year, supporting $1.4 billion in shareholder returns.

• Completed NYSE listing and rebranding to Sunbelt Rentals Holdings, Inc.; launched new $1.5 billion share buyback program.

• Mega project and strategic account activity remained robust, driving growth and market share gains across sectors.

Financial highlights

• Total revenue for Q3 2026 was $2,637 million, up 2.7% year-over-year; rental revenue was $2,443 million, up 2.6%.

• Adjusted EBITDA for Q3 was $1,082 million (margin 41.0%), down from 43.5% year-over-year.

• Adjusted operating profit for Q3 was $539 million (margin 20.4%), down from $574 million (22.4%) year-over-year.

• Adjusted EPS for Q3 was $0.78, down from $0.81 year-over-year.

• Free cash flow for the nine months ended January 31, 2026, was $1,428 million.

Outlook and guidance

• Full-year rental revenue growth guidance narrowed and midpoint increased to 2–3%.

• Gross CapEx guidance for FY27 increased to $2.2–$2.3 billion, with $1.8–$1.9 billion for fleet.

• Free cash flow outlook for FY26 now expected at approximately $2 billion under U.S. GAAP.

• Positive leading indicators and pipeline activity support cautious optimism for further growth.

• Transition to quarterly dividend planned for fiscal 2027.