Q2 2026 Equipmentshare.Com Inc Earnings Call Transcript
Key Points
- Rental segment revenue grew more than 39% year-over-year, driven by strong customer demand and market share gains.
- Mature rental locations achieved 55% trailing 12-month margins, and now represent 56% of the rental network.
- Adjusted core EBITDA grew 34% year-over-year to $531 million, reflecting strong operational performance.
- The company has a robust mega project pipeline with upward pricing pressure, providing confidence in future growth.
- T3 technology platform is deepening customer relationships, with engaged customers spending approximately 6x more than non-engaged customers.
- Full-year rental segment revenue guidance implies a slowdown to approximately 28% growth in the second half, versus 39% in Q2.
- Rental segment margins faced an approximately 50 basis point headwind due to increased fuel costs.
- The company's OWN Program carries an implied cost of capital of approximately 7%, which may be higher than traditional financing.
- There is ongoing reliance on related party transactions, though the company is working to reduce these by the end of 2026.
- Supply chain constraints at OEMs could potentially limit the ability to ramp fleet growth further if demand accelerates.
Hello, everyone. Thank you for joining us, and welcome to the EquipmentShare.com Inc. Q2 earnings. (Operator Instructions)
I will now hand the conference over to Rhett Butler, VP of Investor Relations. Please go ahead.
Good morning, and welcome to EquipmentShare's Second Quarter 2026 Financial Results Conference Call. Joining me today are Jabbok Schlacks, Founder and Chief Executive Officer; Willy Schlacks, Founder and President; Mark Wopata, Chief Data Officer and Executive Vice President of Finance; and David Marquardt, Chief Financial Officer and Chief Accounting Officer. Last night, we issued our earnings press release and posted an earnings presentation to our Investor Relations website. We encourage you to review those materials alongside today's remarks. Please be advised that the call is being recorded.
Comments made on today's call and responses to your questions may contain forward-looking statements within the meaning of applicable securities laws. These statements are subject to risks and uncertainties that could cause
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