10-Q · May 14, 2026
EquipmentShare's Q1 2026 results showed strong revenue growth, reaching $989 million, up 38% year-over-year, driven primarily by expanded operations and increased construction demand. Despite posting a net loss of $29…
Earnings analysis · 10-Q
EQPT earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
EquipmentShare delivered a strong second quarter, with revenue of $1.449 billion versus $989 million in Q1 2026 and EPS improving to $0.18 from a $0.20 loss. Rental Segment revenue rose 39% year over year to $908…
Read full summary
EquipmentShare delivered a strong second quarter, with revenue of $1.449 billion versus $989 million in Q1 2026 and EPS improving to $0.18 from a $0.20 loss. Rental Segment revenue rose 39% year over year to $908 million, while Adjusted Core EBITDA increased 34% to $531 million. The filing adds a new $500 million share-repurchase authorization and quantifies material interest-rate and transportation-cost sensitivities; quantitative 10-Q guidance was not provided, while the prior 8-K maintained full-year 2026 revenue and Adjusted Core EBITDA outlook.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.18
- Segment
- Rental Segment: $908 million of revenue, up 39% year over year
What stood out
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Revenue and EPS Improved Sequentially
Revenue was $1.449 billion, up from $989 million in Q1 2026, an increase of approximately 46%. Reported EPS was $0.18 versus a Q1 loss of $0.20 per diluted share.
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Rental Segment Growth Accelerated
Rental Segment revenue was $908 million, an increase of 39% year over year, indicating continued strong rental demand.
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Adjusted EBITDA Increased 34%
Adjusted Core EBITDA increased 34% to $531 million, according to the prior earnings disclosure accompanying the filing.
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Interest Rate Exposure Quantified
The company’s ABL Credit Facility has estimated annual pretax earnings sensitivity of $10 million for a 1 percentage-point increase in interest rates.
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Transportation Cost Sensitivity Increased
A 10% increase in unrecovered transportation costs would have increased cost of revenues by approximately $10 million for the six months ended June 30, 2026, compared with $6 million for the prior-year period.
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Disclosure Controls Remained Effective
Management concluded that disclosure controls were effective as of June 30, 2026, and reported no material change in internal control over financial reporting during the quarter.
What to watch
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New $500 Million Buyback Cash Risk
The newly authorized share repurchase program permits up to $500 million of Class A common stock purchases through December 31, 2028. Repurchases could diminish cash reserves, increase stock-price volatility, and may not enhance shareholder value.
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Floating-Rate Debt Sensitivity
A hypothetical 1 percentage-point increase in interest rates on the ABL Credit Facility would reduce pretax earnings by an estimated $10 million over 12 months, creating earnings and cash-flow sensitivity to financing costs.
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Higher Logistics Cost Exposure
Unrecovered transportation-cost inflation remains a margin risk: a 10% increase would have affected cost of revenues by approximately $10 million in the first six months of 2026, versus $6 million in the first six months of 2025.
Management's outlook
The provided 10-Q text does not include quantitative revenue or EPS guidance. The prior 8-K stated that full-year 2026 revenue guidance remained $5,254 million to $5,682 million and Adjusted Core EBITDA guidance remained $1,946 million to $2,058 million.
Earlier filings 2
10-K · March 19, 2026
EquipmentShare.com Inc achieved total revenue of $4.38 billion for the year ending December 31, 2025, representing a 16% increase year-over-year, driven primarily by a 31% growth in equipment rental and related…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.