Sunbelt Rentals rises on upbeat Q1 results, full-year guidance boost
SUNB•Quarterly results beat estimates
The company reports Q1 adjusted profit of $1.18 per share, beating analysts' estimate of $1.04 per share, according to LSEG-compiled data.
It also reports Q1 revenue of $3.12 billion versus analysts' estimate of $2.99 billion.
Shares rise in premarket trading
Shares of equipment rental firm Sunbelt Rentals SUNB.N rise 3.7% to $71.85 premarket.
Brokerage view and stock performance
Nine of 14 brokerages rate the stock "buy" or above, three "hold" and two "sell"; their median price target is $86.50, according to data compiled by LSEG.
As of the last close, the stock was down 6.4% year to date.
Guidance raised for revenue growth and EBITDA
The company raises full-year total revenue growth guidance to between 6% and 9%, up from 4.5%–7.5% previously.
It expects fiscal 2027 adjusted EBITDA between $4.92 billion and $5.12 billion, up from a prior forecast of $4.85 billion–$5.05 billion.
