Sunbelt Rentals Holdings (NYSE:SUNB) posted modest revenue gains for its fiscal third quarter, reflecting a stabilizing equipment rental market as high interest rates continue to temper the pace of new large-scale construction starts.
The Fort Mill, South Carolina-based company, a dominant player in industrial and construction equipment, reported total revenue of $2,637 million for the period ended Jan. 31, 2026.
Rental revenue—the company’s core business driver—grew 2.6% year-over-year.
While this represents a deceleration from the double-digit growth seen in previous years, management indicated that demand remains resilient across specialty segments and federal infrastructure projects.
Profitability remained a highlight of the quarter.
Sunbelt generated operating income of $492 million, yielding an operating margin of 18.7%.
On a consolidated basis, net income reached $290 million, or $0.69 per share.
When adjusted for one-time restructuring costs and amortization, earnings per share stood at $0.78, narrowly edging out internal forecasts.
The company’s ability to manage its massive fleet effectively was evident in its adjusted EBITDA, which came in at $1,082 million.
This resulted in a robust adjusted EBITDA margin of 41.0%, a testament to Sunbelt's operational leverage and disciplined pricing strategies in a competitive landscape.