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Sunbelt Rentals HoldingsSUNB

Legal name
Sunbelt Rentals Holdings, Inc.
Sector
Other
Industry
Services-Equipment Rental & Leasing, NEC

Stock Price $SUNB

Latest filings

You are here#60 of 87 in Industrials by market cap

Filing record · 2026–202610-K110-Q28-K11

SUNB filed 1 annual reports (10-K), 2 quarterly reports (10-Q) and 11 current reports (8-K) between 2026 and 2026.

  1. Change in control8-K · Mar ’26Mar ’26
  2. Material agreement8-K · Jul ’26Jul ’26

01—Key figures

Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026

Revenue Trend

Year-over-year comparison from 10-K annual reports

  3. $11.15B
YoY changeLargest recent move−0.6%in FY25Latest +3.4%

Latest bar from 10-KFY2026Click a bar to open its SEC filing

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All SUNB Financial Metrics54 metrics

Income Statement12

Balance Sheet25

Cash Flow12

Per Share5

02—Overview

Sunbelt Rentals Holdings Financial Overview 2026–2026

Updated Nov 4, 2026

Sunbelt Rentals grew revenue 3% in FY2026, yet net income fell 15% to $1,325 milliona. That gap is the story. Restructuring costs and a lighter hurricane-response contribution squeezed profit, not weak demand. Earnings are lagging a business that is adding rental volume and generating more cash.

Revenue rose from $10,791 million in FY2025 to $11,154 millionb in FY2026. Operating income slid to $2,181 million from $2,499 million, and SG&A absorbed $134 million of non-recurring restructuring and relisting costs. Adjusted EBITDA margin slipped to 41.9% from 44.0%. Cash told a better story. Free cash flow climbed to $2,055 million from $1,675 million, and buybacks reached $1,413 million. Net leverage held at 1.6x.

The market paid up for that resilience. At the close of FY2026 (April 29, 2026), shares traded at $76.53c, or 24.3x earnings, for a market cap of $31.4 billion. Q1 FY2027 then showed the earnings dip reversing: revenue jumped 11.2% to $3,115 million and diluted EPS rose to $1.07 from $0.87. The cost is visible, though. Free cash flow fell to $70 million from $468 million as equipment purchases and acquisitions climbed, and net leverage rose to 1.8x after $1.2 billion of new notes.

Recent Developments (Q4 2026 and Q1 2027)

Management raised FY2027 guidance after Q1: revenue growth of 6% to 9%, up from 4.5% to 7.5% in June, and adjusted EBITDA of $4.92 billion to $5.12 billiond. Rental revenue grew 12.5% to $2,927 million, but adjusted EBITDA margin fell to 42.2% from 43.2%. The $650 million Reliant Asset Management (Aries Building Systems) deal closed May 1. Sunbelt repaid $550 million of notes in August and declared its first quarterly dividend, $0.30 per share. Board additions Cynthia Jamison and Ekta Singh-Bushell, both CPAs, joined the Audit Committee. General Counsel Lynne Fuller-Andrews stepped down from her executive role on October 23, and a successor search is under way.

Bull case: volume growth, positive rate momentum and raised guidance point to earnings catching up with revenue. Bear case: margins are narrowing while capital spending and acquisitions consume cash. At 23.3x earnings as of the September 8, 2026 quarterly report ($73.42 close), the stock is priced for that recovery to continue; the multiple does not reflect today's price.

What to watch: margin recovery toward the guided EBITDA range; free cash flow as $2.45 billion to $2.85 billione of rental capex flows through

03—Filings

Recent SEC Filings

  1. 8-KSunbelt Rentals Holdings 8-K Report, Executive Changes (Oct 27, 2026)Sunbelt Rentals Holdings, Inc. filed this Current Report on Form 8-K under Item 5.02 to disclose the planned retirement of Lynne Fuller-Andrews, Executive Vice President, General Counsel and Corporate Secretary. She notified the Company on October 23, 2026 of her intention to retire effective November 1, 2027 (the "Retirement Date"). She stepped down from her executive position effective October 23, 2026, but will remain with the Company in a non-executive capacity through the Retirement Date to facilitate a transition. The Company has commenced a search for its next General Counsel. Under a Transition and Retirement Agreement, Ms. Fuller-Andrews will receive a base salary of $637,500 during the Transition Period and a cash bonus of $510,000 for the fiscal year ending April 30, 2027. She will not be eligible for additional cash or equity incentive compensation during the Transition Period. Subject to executing and not revoking a release of claims, her equity awards outstanding on the Retirement Date will vest and settle under the retirement provisions of the applicable award agreements. The full Retirement Agreement is not included in this filing; the Company states it will be filed with its quarterly report on Form 10-Q.
  2. 8-KSunbelt Rentals Holdings 8-K/A Report, Shareholder Vote Results (Oct 23, 2026)Sunbelt Rentals Holdings, Inc. (SUNB) filed this amendment to its Current Report on Form 8-K, dated September 2, 2026, which reported the final voting results of the Company's 2026 Annual Meeting of Stockholders held on September 1, 2026. The sole purpose of the amendment is to disclose the Board-consistent decision on how often stockholders will vote on the compensation of named executive officers (the Say-on-Pay Vote). No other changes were made to the original filing. In the advisory Say-on-Frequency vote at the Annual Meeting, approximately 98.8% of votes cast favored holding future Say-on-Pay Votes on an annual basis. In light of those results, and consistent with the recommendation of the Sunbelt Board of Directors, the Company will continue to hold Say-on-Pay Votes every year. The next required stockholder advisory vote on frequency must occur no later than the Company's 2032 Annual Meeting of Stockholders. For investors, the filing is procedural. It confirms that annual advisory votes on executive pay will continue and sets the outer date for the next frequency vote, but it does not report the results of any Say-on-Pay Vote or any financial information.
  3. 8-KSunbelt Rentals Holdings 8-K Report, Financial Results (Sep 9, 2026)Sunbelt Rentals Holdings, Inc. (NYSE/LSE: SUNB) reported record fiscal first-quarter 2027 results for the quarter ended July 31, 2026, per Exhibit 99.1 to this Form 8-K furnished under Item 2.02. Total revenue increased 11.2% to $3,115 million and rental revenue increased 12.5% to $2,927 million. Operating income rose 15.9% to $691 million (22.2% margin), adjusted operating profit rose 13.8% to $759 million, net income rose 17.4% to $438 million, and diluted EPS rose 23.0% to $1.07. Adjusted EBITDA increased 8.7% to $1,315 million, with the margin declining to 42.2% from 43.2%. The company attributed part of rental growth to the Reliant Asset Management (Aries) acquisition, which closed May 1, 2026, and an estimated 250 basis points from the FIFA World Cup. The company raised its fiscal 2027 guidance. Total revenue growth is now 6% to 9% (previously 4.5% to 7.5%), rental revenue growth is 7% to 10% (previously 5% to 8%), and adjusted EBITDA is $4.92 billion to $5.12 billion (previously $4.85 billion to $5.05 billion). Net rental equipment capital expenditures are now $2.4 billion to $2.8 billion. The Board also declared the company's first quarterly cash dividend of $0.30 per share, payable October 2, 2026, to holders of record on September 18, 2026, replacing the prior semi-annual pattern and the previous UK distribution framework. Balance sheet metrics show long-term debt of $8,006 million, net debt of $8,524 million, and net leverage of 1.8x, within the stated 1x to 2x range. Free cash flow was $70 million for the quarter, compared with $468 million in the prior-year period, as rental equipment purchases rose to $759 million. The company issued $1.2 billion of senior notes during the quarter and repurchased $56 million of common stock.
  4. 8-KSunbelt Rentals Holdings 8-K Report, Shareholder Vote Results (Sep 2, 2026)Sunbelt Rentals Holdings, Inc. ("Sunbelt") reported in this Current Report on Form 8-K, filed September 2, 2026, the results of its 2026 Annual Meeting of Stockholders, held September 1, 2026. Stockholders elected all ten director nominees to serve until the 2027 Annual Meeting. The filing reports the stockholder votes on each matter, with broker non-votes shown separately for the director elections and the say-on-pay proposal. On the non-binding advisory votes, stockholders approved the compensation paid to the named executive officers, with 254,415,113 votes for, 82,678,437 against, 93,886 abstentions and 1,831,761 broker non-votes. Stockholders also approved "1 Year" as the frequency of future advisory votes on executive compensation, with 332,836,341 votes for that option, compared with 143,660 for two years and 3,979,426 for three years. The Compensation Committee will consider the frequency vote, and its determination will be disclosed in an amendment to this Current Report. Stockholders also ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending April 30, 2027, with 338,725,527 votes for and 281,565 against.
  5. 8-KSunbelt Rentals Holdings 8-K Report, Material Agreement (Jul 15, 2026)On July 14, 2026, Sunbelt Rentals Holdings, Inc. completed its previously announced offering of two series of senior notes under an indenture dated July 14, 2026. The offering comprised $450,000,000 of 4.950% Senior Notes due August 12, 2030 (issued at 99.627%) and $750,000,000 of 5.650% Senior Notes due August 12, 2036 (issued at 99.048%). The notes were sold in a transaction exempt from Securities Act registration, to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. Interest is payable semi-annually on February 12 and August 12, beginning February 12, 2027. The notes rank equally in right of payment with the company's existing and future senior debt and are jointly and severally guaranteed by the company's current and future domestic subsidiaries that guarantee its revolving credit facility. The 2030 notes are redeemable before July 12, 2030 at specified redemption prices, and at par from that date; the 2036 notes are redeemable before May 12, 2036 at specified redemption prices, and at par from that date. Upon a change in control triggering event, the company must offer to repurchase the notes at 101% of principal plus accrued interest. The indenture limits the company's and certain subsidiaries' ability to enter into certain sale and leaseback transactions, create liens on assets securing certain indebtedness, or consolidate, merge or sell all or substantially all assets, subject to important exceptions. Customary events of default apply, and holders of at least 25% of outstanding notes may accelerate the notes upon an event of default. The filing does not state how the proceeds will be used.
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04—See also

Related Companies

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