Sunbelt Rentals Holdings, Inc. (SUNB) Q1 FY2027 earnings

Reported results

• Total revenue increased 11.2% to $3,115 million; rental revenue increased 12.5% to $2,927 million (GAAP)
• Operating income increased 15.9% to $691 million at a margin of 22.2%; adjusted operating profit increased 13.8% to $759 million with adjusted operating profit margin of 24.4% (non-GAAP)
• Net income increased 17.4% to $438 million; basic earnings per share increased 23.0% to $1.07 (GAAP)
• Adjusted EBITDA increased 8.7% to $1,315 million at a margin of 42.2% (non-GAAP)
• Adjusted earnings per share increased 20.4% to $1.18 (non-GAAP)
• North America General Tool segment rental revenue increased 7.4% to $1,648 million; North America Specialty segment rental revenue increased 25.3% to $1,070 million

Guidance

• Full-year fiscal 2027 total revenue growth: 6% to 9% (raised from prior 4.5% to 7.5%)
• Full-year fiscal 2027 rental revenue growth: 7% to 10% (raised from prior 5% to 8%)
• Full-year fiscal 2027 adjusted EBITDA: $4.92 billion to $5.12 billion (raised from prior $4.85 billion to $5.05 billion)
• Full-year fiscal 2027 net rental equipment capital expenditures: $2.4 billion to $2.8 billion (raised from prior $2.05 billion to $2.45 billion)
• Full-year fiscal 2027 gross rental capital expenditures: $2.75 billion to $3.15 billion (raised from prior $2.45 billion to $2.85 billion)

Notes

Adjusted EBITDA guidance is on a forward-looking basis; the most directly comparable GAAP measure is not accessible on a forward-looking basis without unreasonable efforts due to difficulty in predicting certain items that impact this measure. The Aries brand acquisition (Reliant Asset Management) closed May 1, 2026 and contributed approximately 100 basis points to rental revenue growth; FIFA World Cup contributed approximately 250 basis points. Restructuring costs in Q1 FY2027 relate to Redomiciliation, U.S. Listing, and operational restructure of UK segment.

Price and volatility reaction

The stock moved +5.9% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -21.3 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-09-09 (8-K, Item 2.02). Read the original filing on sec.gov.