Sunbelt Rentals beats fiscal Q4 estimates as rental revenue, Specialty growth, and free cash flow support results.
Stock Earnings Results
June 23, 2026
Table of Contents
June 23, 2026
Sunbelt Rentals Holdings, Inc. (NYSE: SUNB) reported fiscal fourth-quarter 2026 results above expectations, supported by higher rental revenue, strong Specialty growth, solid free cash flow, and continued shareholder returns.
Sunbelt Rentals is a leading equipment rental company serving construction, industrial, infrastructure, live events, maintenance, and specialty equipment markets across North America and the United Kingdom.
The company reported adjusted EPS of $0.74, above estimates of $0.73, representing a 1.4% earnings surprise. Revenue came in at $2.75 billion, above estimates of $2.70 billion.
Fourth-quarter total revenue increased 8.9% to $2.75 billion from $2.53 billion a year earlier.
Equipment rental revenue increased 8.0% to $2.52 billion, driven by volume growth and higher utilization across most geographies, while rates remained stable.
North America General Tool rental revenue increased 4.4%, supported by mega projects, strategic accounts, and strong Canadian growth.
North America Specialty rental revenue increased 15.1%, led by Power and HVAC, Load Banks, Flooring, Temporary Fencing, Structures and Walls, Trench Safety, and Scaffold.
Net income declined to $226 million from $329 million, mainly due to higher restructuring and relisting costs, stock compensation expense, and prior-year comparison effects.
Adjusted EBITDA was $1.07 billion, with adjusted EBITDA margin of 38.7%.
For fiscal 2026, Sunbelt reported record total revenue of $11.15 billion, up 3.4%.
Full-year rental revenue also increased 3.4% to $10.32 billion. Adjusted EBITDA was $4.68 billion, with adjusted EBITDA margin of 41.9%.
Cash flow from operations was $3.78 billion, while free cash flow was $2.06 billion.
Sunbelt returned $1.88 billion to shareholders during fiscal 2026, including $1.41 billion through share buybacks and $464 million through dividends.
The company also announced a final dividend payment of $0.75 per share, bringing the full-year dividend to $1.125, up 4% from the prior year. Sunbelt plans to transition to a quarterly dividend in fiscal 2027.
Sunbelt also announced that it completed the acquisition of Reliant Asset Management for $650 million.
Reliant operates under the Aries Building Systems brand and provides modular structures, mobile offices, classrooms, and storage products.
The acquisition adds a new Specialty vertical and is expected to be accretive to growth and EPS.
Sunbelt delivered a stronger revenue quarter, but margins remained a key watch item.
Rental revenue grew, Specialty demand was strong, free cash flow remained solid, and shareholder returns were meaningful. At the same time, adjusted EBITDA margin declined from last year, reflecting higher costs, mix changes, and continued growth investments.
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