Key Highlights

  • Total Revenue was USD 1,468 million, up 55% year over year.
  • Net income was USD 20 million; adjusted Net Income was USD 46 million.
  • Rental Segment Adjusted EBITDA was USD 491 million, up 52%.
  • OEC under management was USD 10,663 million, up 32%.

EquipmentShare.com Inc (NASDAQ:EQPT) reported third quarter 2026 total revenue of USD 1,468 million, an increase of 55% from USD 945 million. Reported EPS was USD 0.16 and revenue was USD 1.47 billion, compared with estimates of EPS of USD 0.10 and revenue of USD 1.31 billion.

Net income was USD 20 million, compared with USD 6 million in the third quarter of 2025. Adjusted net income was USD 46 million, compared with USD 6 million. Adjusted Core EBITDA was USD 594 million, compared with USD 424 million, an increase of 40%.

Rental Segment Performance

Rental Segment revenue growth accelerated to 49% year over year, reaching USD 1,113 million, on 32% growth in OEC. Rental Segment Adjusted EBITDA increased 52% to USD 491 million, with Margin of 44%, up approximately 70 basis points year over year and 130 basis points sequentially. Mature rental locations reported Adjusted EBITDA margins of 54% on a trailing twelve month basis.

Equipment sales revenue was USD 294 million, compared with USD 167 million, and all other revenue was USD 61 million, compared with USD 32 million. OWN Program payouts were USD 254 million, compared with USD 185 million. New market start-up costs were USD 59 million, compared with USD 70 million.

Fleet and Footprint

Original Equipment Cost under management was USD 10,663 million, compared with USD 8,053 million. Operational locations were 448, compared with 373 a year earlier, an increase of 20%.

Founder and chief executive Jabbok Schlacks said the quarter delivered 32% growth in OEC, producing 49% growth in Rental Segment revenue and 52% growth in Rental Segment Adjusted EBITDA, with margins expanding both year over year and sequentially. He cited over 260 mature sites by year end, up 76 since the start of 2026, and said visibility into customer Demand gives confidence in the full year 2026 outlook, with an opportunity to outperform it.

The company's president said the T3 platform is built to be intuitive and useful in the flow of work. During the quarter the company advanced touchless equipment access, machine mounted 360 degree safety and capture systems, and its next generation telemetry device.

Nine Month Results

For the nine months ended September 30, 2026, total revenue was USD 5,476 million, compared with USD 4,362 million, an increase of 26%. Rental Segment revenue was USD 3,556 million, compared with USD 2,523 million, and equipment sales were USD 1,706 million, compared with USD 1,758 million. Rental Segment Adjusted EBITDA was USD 1,535 million, compared with USD 1,036 million, and margin was 43%, compared with 41%. Net income was USD 75 million, compared with USD 25 million, and adjusted net income was USD 143 million, compared with USD 25 million. Adjusted Core EBITDA was USD 2,080 million, compared with USD 1,520 million.

Rental Measures and Fleet Growth

EquipmentShare's release presents Rental Segment Adjusted EBITDA of USD 491 million, adjusted net income and Adjusted Core EBITDA as non GAAP measures alongside net income of USD 20 million. It cites OEC under management of USD 10,663 million, the mature location margin, the count of mature sites at year end and the full year 2026 outlook.