Rental Rate Tracker – Marginal Improvement In June Trends, But Caution Remains

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Rental Rate Tracker – Marginal Improvement In June Trends, But Caution Remains

NORTH AMERICA | Equipment Rental

Sunbelt Rentals EquityJulyResearch14, 2026

FLASH NOTERental Rate Tracker — Marginal Improvement

RATING HOLDIn June Trends, But Caution Remains

PRICE $74.84^

Our website pricing report looks to gain insight into rental rate trends for

Sunbelt. In June, YoY average change in our website rate index improved PRICE TARGET | % TO PT $78.00 | +4%

marginally (Ave. +0.5% vs +0.2% May), with a stable exit rate for first week 52W HIGH-LOW $86.68 - $61.03

of July (+0.4%). Our fleet-weighted index was broadly stable with flat rates FLOAT (%) | ADV MM (USD) 97.7% | 374.65

in June (vs -0.1% May), with the small increase driven by improving trends MARKET CAP $31.5B

in FL/MH. TICKER SUNB ^Prior trading day's closing price unless otherwise

noted.

Website rate data inflection in April/May potentially running out of steam, with exit rates

RATING HOLD

stable.

TICKER SUNB LN

What are we tracking? We scrape Sunbelt website pricing data across c.150 product

PRICE 5,526.00p^

categories and multiple locations. We think the resulting index and YoY change figures may

be useful in determining relative and directional trends in equipment rental pricing, though PRICE TARGET | % TO PT 5,800.00p | +5%

they should not be interpreted as exact. We note that only c.5+% of Sunbelt's US rental

transactions are conducted via the website, and the pricing algorithm for larger customers

may vary significantly. Nonetheless, we see website pricing as potentially indicative of pricing

direction on marginal rental demand.

Website rates average improved marginally sequentially in June to +0.5% YoY, Fleet

Weighted index was flat. Our Website Pricing Index which inflected and started to deteriorate