In their most recent round of earnings reports, the leading publicly traded equipment rental companies in the U.S. – EquipmentShare, Herc Rentals, Sunbelt Rentals, and United Rentals – saw revenue gains across the board.
EquipmentShare
For its first ever first quarter earnings after going public earlier this year, EquipmentShare reported $989 million in total revenue, up 38% year-over-year. Equipment rental and services revenue was up 37% in the same period to $764 million.
EquipmentShare also reported $179 million in first quarter equipment sales revenue, up 23% year-over-year.
The company reported a net loss of $29 million for the first quarter of the year, though that was down from the net loss EquipmentShare reported in last year’s first quarter.
Consolidated revenue for EquipmentShare’s full fiscal year is forecast to land between $5.2 billion and $5.6 billion.
Herc Rentals
Total revenue in Herc Rentals’ first quarter of the 2026 fiscal year was 32% to $1.1 billion compared to $861 million in last year’s first quarter. Revenue from the company’s equipment rental activities was up 32.7% to $981 million, driven by a larger fleet size after the H&E acquisition and an increase in volume on mega projects.
Herc Rentals recorded $138 million in first quarter revenue from sales of rental equipment, up 31.4% year-over-year.
The company reported a net loss in the quarter of $24 million, up from a net loss of $18 million Herc Rentals saw in last year’s first quarter.
Herc Rentals forecasts equipment rental revenue for the full fiscal year will land between $4.275 billion and $4.4 billion.
Sunbelt Rentals
Sunbelt Rentals’ third quarter consolidated revenue was up 2.7% to $2.6 billion, while equipment rental revenue specifically rose 2.6% in the quarter to $2.4 billion.
Revenue from sales of rental equipment was down in the third quarter, falling 1.9% year-over-year to $105 million.
Net income for the quarter came in at $290 million, though this was down 10.8% from $325 million in last year’s third quarter.
For its full 2026 fiscal year, Sunbelt Rentals is forecasting rental revenue growth between 2% and 3%
United Rentals
For its first quarter of the year, United Rental posted total revenue of just under $4 billion, up 7.2% from $3.7 billion one year ago. Equipment rental revenue specifically was up 8.7% year-over-year to $3.4 billion.
Looking at sales of rental equipment, United Rentals reported $350 million in revenue for the first, down 7.2% compared to last year’s first quarter.
Gross profit for the quarter came in at $1.5 billion, representing an 8.3% year-over-year decline.
Looking at the full 2026 fiscal year, United Rentals expects total revenue to land in the $16.9 billion to $17.4 billion range.
