EquipmentShare.Com Inc (EQPT.O): EQPT Pre-Announces Raised 2026 Outlook

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EquipmentShare.Com Inc (EQPT.O): EQPT Pre-Announces Raised 2026 Outlook

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10 Jul 2026 05:00:00 ET │ 14 pages

EquipmentShare.Com Inc (EQPT.O)

EQPT Pre-Announces Raised 2026 Outlook

CITI'S TAKE

After the close yesterday, EQPT announced it is raising its 2026 guidance

(see release here), which the company noted is driven by continued strong

customer demand and better-than-expected financial performance Neutral / High Risk

through 1H26. The guidance raise into 2H26 does not come as much of a Price (09 Jul 26 16:00) US$16.00

surprise to us given encouraging demand trends (here), but is certainly a

positive read-through to other rental co’s that have yet to report. Still, Target price US$18.00↓

EQPT's second guidance raise of the year for financial metrics across the from US$20.00

board is encouraging, which suggests that it is having some site maturation Expected share price return 12.5%success considering it maintained its expectations for full-service rental

locations. EQPT raising its guidance for 2026 OEC (+4%) by a higher degree Expected dividend yield 0.0%

than rental revenue (+3%) does seem to suggest some compression in dollar Expected total return 12.5%

utilization. We would anticipate EQPT shares to trade up on the raised Market Cap US$4,038Moutlook, particularly given sentiment has weakened as of late.

Updated Estimates — We have updated our estimates on the back of EQPT’s

updated outlook. We have raised our 2026E adj. core EBITDA to $1,984mn from

Price Performance$1,912mn, our 2027E adj. core EBITDA to $2,516mn from $2,401mn, and our 2028E

adj. core EBITDA to $2,904mn from $2,895mn. Upward revisions primarily reflect (RIC: EQPT.O, BB: EQPT US)

more constructive equipment rental assumptions, cuing off EQPT’s raised guide. We