EquipmentShare lifts 2026 outlook, OKs $500m buyback

EquipmentShare.com Inc. updated its outlook for the 2026 financial year, increasing both revenue and profitability expectations. The company now forecasts total revenue between $5.25 billion and $5.68 billion, compared with a prior range of $5.15 billion to $5.58 billion. Adjusted core EBITDA guidance was raised to a range of $1.95 billion to $2.06 billion, up from $1.88 billion to $2.00 billion. The revisions reflect stronger anticipated performance in the business during the year.

Within its operations, EquipmentShare increased the midpoint of its full-year rental segment revenue growth outlook to 33%, up from 29%. This indicates higher expected expansion in its rental activities compared with earlier projections. The company also signaled confidence in demand for its services through higher investment targets and network expansion plans.

To support expected growth, EquipmentShare raised its 2026 gross rental capital expenditure forecast to about $2.66 billion to $2.89 billion. This compares with a previous range of around $2.28 billion to $2.50 billion. The increased capex is directed toward its rental fleet and related assets, aligning spend with the updated growth outlook.

The company also provided updated targets for its physical footprint. It now expects to operate between 427 and 435 full-service rental locations by the end of 2026. These locations form the core of its rental network and are intended to support continued customer demand across markets it serves.

Alongside the upgraded guidance, EquipmentShare’s board approved a new share repurchase program for its Class A common stock. The authorization allows the company to buy back up to an aggregate $500 million of shares. The program runs through December 31, 2028, providing a multiyear window for potential transactions.

Repurchases under the authorization may be executed opportunistically, subject to market conditions and other factors. The approval does not obligate the company to repurchase a specific number of shares or to complete the full authorized amount. The program adds another option to the company’s capital allocation toolkit over the coming years.

EquipmentShare outlined its expected liquidity position in connection with the updated outlook and capital plans. The company anticipates pro forma liquidity of approximately $2.6 billion at June 30, 2026. This figure includes cash, cash equivalents, undrawn availability under its asset-based lending facility and $1.3 billion of net bond proceeds funded on July 1, 2026.

This liquidity is intended to support ongoing investment in the rental fleet, technology and growth initiatives while the company pursues its revised revenue and EBITDA targets. The combination of increased guidance, higher capex, network expansion and the share repurchase authorization frames EquipmentShare’s financial and strategic priorities for 2026.