Sunbelt sees 4.4% spike in NA specialty rental revenue
Total revenue rose 2.7% YoY in fiscal Q3
Sunbelt Rentals reported increased revenue in its fiscal third quarter amid construction industry tailwinds and growing demand for specialty equipment.
The company’s performance reflects “ongoing strength in megaprojects and large strategic customer share gains as well as the vast non-construction markets,” Chief Executive Brendan Horgan stated in the company’s March 12 earnings release.
“Local nonresidential construction continues to be in a moderate state, although our internal leading indicators continued to trend positive in the quarter further supported by the Dodge Momentum Index,” he said.
For its fiscal Q3, ending Jan. 31, Fort Mill, S.C.-based Sunbelt reported:
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Total revenue rose 2.7% year over year to $2.6 billion;
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Total equipment rental revenue increased 2.6% YoY $2.4 billion;
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Total rental equipment sales fell 1.9% YoY to $105 million;
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North American general tool segment revenue rose 1.6% YoY to $1.4 billion;
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North American specialty segment revenue jumped 4.4% YoY to $851 million;
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Dollar utilization for North American general tool segment was 47%, down one percentage point YoY;
- Dollar utilization for North American specialty segment landed at 74%, up from 73%; and
- Net income declined 10.8% YoY to $290 million.
Through the first nine months of its fiscal 2026, Sunbelt invested $1.9 billion in rental fleet CapEx, new location openings and 10 bolt-on acquisitions, Horgan said.
The company’s increased CapEx will “fuel continued growth in our specialty segments, recent megaproject wins and advanced fleet replacement to provide maximum optionality to balance replacement investments while taking advantage of strengthening trends,” he said.
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