Sunbelt Rentals Holdings, Inc. (NYSE:SUNB) shares rose 3.39% in premarket trading on Wednesday after the company reported first-quarter fiscal 2027 results and raised its full-year guidance.
Adjusted earnings per share were $1.18, while total revenue increased 11.2% year over year to $3.12 billion.
Rental revenue rose 12.5% to $2.93 billion, including growth of 25.3% in the North America Specialty segment and 7.4% in North America General Tool.
Adjusted EBITDA increases 8.7%
Adjusted EBITDA rose 8.7% from the prior-year period to $1.32 billion. Adjusted EBITDA margin was 42.2%, compared with 43.2% a year earlier.
Net income increased 17.4% to $438 million, while reported earnings per share rose 23% to $1.07.
“I am proud of the team’s efforts in driving strong execution across all aspects of the business which delivered record first quarter results,” said Brendan Horgan, Chief Executive Officer. “Our obsession with the success of our customers, strong value proposition, differentiated technology platform and leading scale drove strong growth in the quarter.”
Sunbelt raises fiscal 2027 revenue growth forecast
Sunbelt increased its full-year fiscal 2027 total revenue growth guidance to between 6% and 9%, compared with its previous forecast of 4.5% to 7.5%.
Rental revenue is now expected to increase between 7% and 10%, up from the previous guidance range of 5% to 8%.
The company also raised its adjusted EBITDA forecast to between $4.92 billion and $5.12 billion from $4.85 billion-$5.05 billion.
The midpoint of the updated adjusted EBITDA range is $5.02 billion, $70 million above the midpoint of the previous forecast.
Sunbelt’s board also declared a quarterly cash dividend of $0.30 per share, payable on October 2, 2026.
Sunbelt Rentals Holdings stock price
