EQPT earnings analysis
What we found in EQPT's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- 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.
- Rental Segment Growth Accelerated
- Rental Segment revenue was $908 million, an increase of 39% year over year, indicating continued strong rental demand.
- Adjusted EBITDA Increased 34%
- Adjusted Core EBITDA increased 34% to $531 million, according to the prior earnings disclosure accompanying the filing.
- 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.
- 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.
- 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.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
- 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.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.18
- Segment
- Rental Segment: $908 million of revenue, up 39% year over year
What they said about what is next.
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.
The filing reads about the same as the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing EQPT makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever