| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 332.00 | 37.8% |
| Total Income | 332.00 | 37.8% |
| Expenditure | 331.00 | 31.9% |
| PBT | -61.00 | 9.0% |
| Net Profit | -29.00 | 39.6% |
| OPM | 0.30% | 4.45pp |
| NPM | -8.73% | 11.18pp |
| EPS | — |
EquipmentShare Reports Q1 FY26 Revenue $989 Million, Up 38% YoY, Raises Full-Year Guidance
14 May 2026 · 14 May, 2:07 am
Summary
EquipmentShare reported robust financial results for the first quarter ended March 31, 2026, with total revenue climbing 38% year-over-year to $989 million. The Rental Segment was a primary growth driver, achieving a 37% increase in revenue to $764 million. The company also saw a significant improvement in profitability, with its net loss narrowing by 40% to $29 million, and Adjusted Core EBITDA rising 38% to $399 million. Management expressed confidence in continued momentum, citing strong customer demand and the embedded earnings power of its maturing footprint, leading to an upward revision of its full-year 2026 guidance across all key metrics.
Key Highlights
- 1
EquipmentShare reported total revenue of $989 million for the first quarter ended March 31, 2026, marking a significant 38% increase year-over-year.
- 2
The Rental Segment revenue demonstrated strong growth, increasing by 37% year-over-year to $764 million in the first quarter, driven by robust customer demand.
- 3
Adjusted Core EBITDA for the first quarter reached $399 million, representing a substantial 38% increase compared to the prior year period.
- 4
The company's net loss for the first quarter improved by 40%, decreasing to $29 million from a $48 million net loss in the same period last year.
- 5
EquipmentShare expanded its operational footprint by opening 22 new locations during the first quarter, contributing to a total of 407 operational locations.
- 6
Net leverage improved to 2.8x as of March 31, 2026, down from 3.2x a year prior, indicating strengthening financial health.
- 7
Management raised its full-year 2026 guidance across key metrics, including total revenue, rental segment revenue, and Adjusted Core EBITDA, reflecting a positive outlook.
Management Comments
Jabbok Schlacks
We delivered a strong first quarter and are raising our 2026 outlook across the board. Rental Segment revenue grew 37% year over year, supported by strong customer demand across industrial, infrastructure, data center, and advanced manufacturing projects. Trailing twelve month mature rental location adjusted EBITDA margin was 55%, highlighting strong organic unit economics and the embedded earnings power of our footprint as it matures. The quarter’s strong financial performance reinforces the strength of our technology-enabled organic growth model, the value T3 brings to larger and more complex jobsites, and our continued focus on scaling EquipmentShare with discipline and attractive returns.
Willy Schlacks
What we're seeing every day with customers is that large, complex jobsites need more than equipment availability. They need visibility, control, and faster execution. T3 is the live operating layer across equipment, access control, service, utilization, and jobsite activity that delivers that. T3 also what makes AI meaningful for construction by turning actual jobsite data into improved uptime, smarter service prioritization, and greater customer control. Our strong first quarter financial performance reflects growing customer demand for an integrated platform over fragmented alternatives, and that momentum continues to accelerate.
Informational and educational content only. Not investment advice.