EquipmentShare Q1 Revenue Grows 38% to $989M, Adjusted EBITDA Up 38% and 2026 Guidance Raised
EquipmentShare reported Q1 revenue of $989 million, up 38% year-over-year, with rental segment revenue rising 37% to $764 million and adjusted Core EBITDA increasing 38% to $399 million. It delivered trailing-twelve-month net income of $58 million, achieved 55% mature site EBITDA margins, added 22 locations and raised its full-year 2026 guidance.
1. Q1 2026 Financial Highlights
EquipmentShare’s total revenue for the quarter ended March 31 reached $989 million, a 38% increase from $716 million a year earlier. The company reported a net loss of $29 million and an adjusted net loss of $12 million, while trailing-twelve-month net income stood at $58 million with adjusted net income of $75 million.
2. Rental Segment Growth and Profitability
Rental segment revenue climbed 37% year-over-year to $764 million, contributing to a trailing-twelve-month rental revenue of $2,932 million, up 36%. Mature rental locations achieved an adjusted EBITDA margin of 55%, underscoring strong unit economics as the footprint matures.
3. Operational Footprint Expansion
As of March 31, EquipmentShare operated 407 locations, including 371 full-service rental sites, 27 building materials branches and nine dealerships. The company opened 22 new locations during Q1, reflecting continued market penetration and network growth.
4. Guidance Raise and Strategic Outlook
Following the strong first quarter, EquipmentShare raised its full-year 2026 guidance across revenue, EBITDA and profitability metrics. Leadership cited growing demand for the T3 integrated platform and disciplined expansion as drivers of future growth and margin improvement.