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Sunbelt Rentals Holdings (SUNB) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Sep 9, 2026 · Sunbelt Rentals Holdings (SUNB) Q1 FY27 earnings results →

Q1 FY27 Revenue up 11% year over year to $3.1B · 14¢ of every $1 of revenue kept as net profit · operating margin 22.2%

Sunbelt Rentals Holdings made $3.1B in Q1 FY27 (+11% Y/Y): Equipment rentals $2.9B, Sales of new equipment, merchandise and consumables $103M, Sales of rental equipment $85.0M. Operating margin 22.2%, net earnings $438M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 9, 2026.

Revenue$3.1B
Year over year+11%
Operating margin22.2%
Net earnings$438M
Operating cash flow$840M

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Sunbelt Rentals Holdings Q1 FY27 revenue breakdown: Sankey diagram of revenue (Equipment rentals, Sales of new equipment, merchandise and consumables, Sales of rental equipment), costs, profit and cash flow
Sunbelt Rentals Holdings Q1 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $3.1B in Q1 FY27, up 11% year over year and up 13% from the previous quarter. Equipment rentals was the largest line at 74% of revenue. Equipment rentals added $0.22B year over year (up 10%), 70% of the total change. Sales of rental equipment declined 17%.

Gross margin was 40.1%, unchanged from a year earlier. Operating profit was $0.69B, a 22.2% margin (up 0.9 points year over year). Of the extra revenue versus a year earlier, 30% reached operating profit, above the 21% margin then. Operating expenses grew 6% against revenue growth of 11%. Net earnings were $0.44B, up 17% year over year. The effective tax rate was 25.9%.

Operating cash flow was $0.84B (down 3% year over year), 192% of net earnings. Non-cash charges added back $0.58B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.21B. After payments for purchases of rental equipment, net ($0.67B) and payments for purchases of non-rental property and equipment ($0.10B), free cash flow as the company reports it was $0.07B.

Quarterly history

Sunbelt Rentals Holdings revenue by quarterSunbelt Rentals Holdings revenue by quarter$2.6BQ3 FY26$2.8BQ4 FY26$3.1BQ1 FY27
Sunbelt Rentals Holdings net earnings by quarterSunbelt Rentals Holdings net earnings by quarter$290MQ3 FY26$226MQ4 FY26$438MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QSep 9, 2026$3.1B+11%22.2%$438M$840M
Q4 FY2610-KJun 23, 2026$2.8B+9%14.9%$226M$950M
Q3 FY2610-QMar 12, 2026$2.6B+3%18.7%$290M—

Charts

Sunbelt Rentals Holdings: revenue growth, year over year and quarter over quarterSunbelt Rentals Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q+3%Q3 FY26+9%+4%Q4 FY26+11%+13%Q1 FY27
Latest (Q1 FY27): Y/Y +11%, Q/Q +13%.
Sunbelt Rentals Holdings: where the cash came from (+) and went (−), TTM to Q1 FY27Sunbelt Rentals Holdings: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow$3.8BOther investing−$2.1BBuybacks−$1.1BNet borrowing (+) / repaid (−)$1.1BAcquisitions−$853MDividends−$771MCash drawn (+) / kept (−)−$9.0MOther financing$7.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Sunbelt Rentals Holdings: profit against cash, quarter by quarterSunbelt Rentals Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow$325MQ3 FY25$329M$989MQ4 FY25$373M$868MQ1 FY26$290MQ3 FY26$226M$950MQ4 FY26$438M$840MQ1 FY27
Latest (Q1 FY27): Net income $438M, Operating cash flow $840M.
Sunbelt Rentals Holdings: diluted shares by fiscal yearSunbelt Rentals Holdings: diluted shares by fiscal year439MFY24437MFY25421MFY26
-4.2% since FY24: buybacks shrank the count.
Sunbelt Rentals Holdings: long-term debt falling due (FY26)Sunbelt Rentals Holdings: long-term debt falling due (FY26)$550M2027$598M2028$598M2029$2.0B2030$3.8BLater
Cash $29.0M, short-term investments —, long-term debt $7.6B at 2026-04-30.
Sunbelt Rentals Holdings in its industry: growth against margin (12 companies, SIC 7359)Sunbelt Rentals Holdings in its industry: growth against margin (12 companies, SIC 7359)revenue growth, year over year →↑ operating marginmedian +11%median 21%URIUnited Rentals North America IncEQPTUPBDPRGSumisho Air Lease CorpCTOSAircastle LTDMGRCKPLTArboretum Silverleaf Income Fund, L.P.SUNB (+11%, 22%)
Services-Equipment Rental & Leasing, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

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🔄Rotation against the market and its industry (RRG)interactive

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📈Investments: gains and what it boughtinteractive

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About Sunbelt Rentals Holdings

We believe we are one of the largest international equipment rental companies by rental revenue, with a network o f 1,611 stores across North America and the United Kingdom as of April 30, 2026 . We conduct our equipment rental operations under the name “Sunbelt Rentals.” We believe that Sunbelt Rentals is the second largest equipment rental business in North America and the largest equipment rental company in the United Kingdom, in each case, by rental revenue. In the fiscal year ended April 30, 2026 , we generated revenue of $11,154 million, operating income of $2,181 million and adjusted operating profit of $2,500 million and in the fiscal year ended April 30, 2025 , we generated revenue of $10,791 million, operating income of $2,499 million and adjusted operating profit of $2,615 million.

In its own words, from its 10-K, filed Jun 23, 2026.

Sunbelt Rentals Holdings against its Services-Equipment Rental & Leasing, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +12%. Operating margin: 22.2% against the peers' median 21.4%.

CompanyQuarterRevenueY/YOp. margin
SUNB Sunbelt Rentals HoldingsQ1 FY27$3.1B+11%22.2%
URI United RentalsQ3 2026$4.9B+16%28.8%
United Rentals North AmericaQ2 2026$4.4B+12%25.8%
EQPT EquipmentShare.comQ2 2026$1.4B+26%6.4%
UPBD Upbound GroupQ3 2026$1.1B-2%6.2%
PRG Prog HoldingsQ3 2026$726M+26%9.1%
Sumisho Air LeaseQ3 2026$593M-18%21.4%
CTOS Custom Truck One SourceQ3 2026$495M+3%7.7%
AircastleQ2 FY27$283M+24%28.4%

Source: Sunbelt Rentals Holdings 10-Q on SEC EDGAR · CIK 2083785 · Services-Equipment Rental & Leasing, NEC

13F: who owns SUNB and who is buying

Largest holders of SUNB (13F)Largest holders of SUNB (13F)Dodge & COX$4.1BVanguard Capital Management LLC$2.3BVanguard Portfolio Management LLC$1.5BBlackRock$1.1BPrudential$943MBarclays$857MWellington Management Group LLP$807MHarris Associates L P$783MInvesco$773MRothschild & Co Wealth Management…$633M
Funds' net buying of SUNB by quarter (13F)Funds' net buying of SUNB by quarter (13F)$15.8B2026-03$1.4B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SUNB

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results

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中文版：Sunbelt Rentals Holdings（SUNB）财报

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