Filing Flows › EquipmentShare.com (EQPT) › Q2 2026 › vs Q1 2026
EquipmentShare.com (EQPT) Q2 2026 vs Q1 2026 (quarter over quarter)
EquipmentShare.com's revenue rose $460M (+47%) from $989M in Q1 2026 to $1.4B in Q2 2026. The biggest changes: Equipment sales +$304M (+170%); Equipment rental, parts, supplies and services +$143M (+19%); Other +$10.0M (+53%). Gross margin 28.4% against 29.0% (-0.7 pts).
EquipmentShare.com, Q2 2026: revenue $1.4B (+26% year over year), operating margin 6.4%, net earnings $19.0M, operating cash flow $58.0M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 28.4% | 29.0% | -0.7 pts |
| Operating margin | 6.4% | 0.1% | +6.3 pts |
| Net margin | 1.3% | -2.9% | +4.2 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Equipment rental revenue | $722M | $607M | $115M | +19% |
| Delivery and pick-up | $54.0M | $44.0M | $10.0M | +23% |
| Services | $53.0M | $46.0M | $7.0M | +15% |
| Other equipment rental | $39.0M | $32.0M | $7.0M | +22% |
| Equipment parts and supplies sales | $35.0M | $31.0M | $4.0M | +13% |
| Equipment rental, parts, supplies and services | $903M | $760M | $143M | +19% |
| Equipment sales | $483M | $179M | $304M | +170% |
| Telematics | $34.0M | $31.0M | $3.0M | +10% |
| Other | $29.0M | $19.0M | $10.0M | +53% |
| Revenue | $1.4B | $989M | $460M | +47% |
| Gross profit | $411M | $287M | $124M | +43% |
| Cost of revenue | $1.0B | $702M | $336M | +48% |
| Operating profit | $93.0M | $1.0M | $92.0M | 93× |
| Operating expenses | $318M | $286M | $32.0M | +11% |
| Pre-tax earnings | $33.0M | −$61.0M | $94.0M | — |
| Other expense, net | $60.0M | $62.0M | −$2.0M | -3% |
| Net earnings | $19.0M | −$29.0M | $48.0M | — |
| Income tax | $14.0M | −$32.0M | $46.0M | — |
| Operating cash sources | $157M | $94.0M | $63.0M | +67% |
| Depreciation & amortization | $112M | $104M | $8.0M | +8% |
| Share-based compensation | $26.0M | $19.0M | $7.0M | +37% |
| Working capital & other | $99.0M | $294M | −$195M | -66% |
| Operating cash flow | $58.0M | −$200M | $258M | — |
| Capital expenditures | $689M | $328M | $361M | +110% |
| Negative free cash flow (OCF − capex) | $631M | $528M | $103M | +20% |
Questions
How much did EquipmentShare.com's revenue grow quarter over quarter in Q2 2026?
EquipmentShare.com's revenue rose $460M (+47%) from $989M in Q1 2026 to $1.4B in Q2 2026.
What drove EquipmentShare.com's revenue change in Q2 2026?
Equipment sales +$304M (+170%); Equipment rental, parts, supplies and services +$143M (+19%); Other +$10.0M (+53%).