How did Sunbelt Rentals perform in the fourth quarter of fiscal 2026?

Total revenue rose 8.9% to $2.75 billion and equipment rental revenue rose 8.0% to $2.52 billion. Net income fell 31.3% to $226 million, which the company attributed mainly to higher non-recurring restructuring and relisting costs and higher stock compensation expense. Adjusted EBITDA was $1.07 billion, down 1.3%, with adjusted EBITDA margin of 38.7%.

What is the Reliant Asset Management acquisition?

Sunbelt closed the purchase of Reliant Asset Management on May 1, 2026, for a total purchase price of $650 million. Reliant is a modular space solutions provider that goes to market as Aries Building Systems, renting and selling modular structures, mobile offices, classrooms and storage products. The company expects the deal to be accretive to earnings per share and to add a new North America Specialty vertical.

What guidance did the company give for fiscal 2027?

For fiscal 2027, Sunbelt expects total revenue growth of 4.5% to 7.5%, rental revenue growth of 5% to 8%, and adjusted EBITDA of $4.85 billion to $5.05 billion. Net rental equipment capital expenditures are expected to be $2.05 billion to $2.45 billion, and gross rental capital expenditures $2.45 billion to $2.85 billion.

How much did the company return to shareholders and what are its dividend plans?

In fiscal 2026 the company returned $1.88 billion to shareholders, including $1.41 billion of share repurchases and $464 million of dividends. It declared a final dividend of $0.75 per share, payable July 24, 2026 to holders of record on July 10, 2026, and plans to transition to a quarterly dividend in fiscal 2027.

What does the Item 8.01 disclosure mean for stockholders?

The company expects to hold its first annual meeting of stockholders on September 1, 2026, at 11:30 a.m. Eastern Time. Stockholders who want to nominate a director or submit a proposal (other than under Rule 14a-8) must deliver notice to the Corporate Secretary at the company's Fort Mill, South Carolina headquarters by the close of business on July 3, 2026, and comply with the bylaws' other requirements.

SUNB 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed June 23, 2026. Cited figures are marked; the original filing is the authoritative source.

Sunbelt Rentals Holdings, Inc. (NYSE/LSE: SUNB) reported fiscal fourth-quarter and full-year 2026 results for the periods ended April 30, 2026, in a press release furnished as Exhibit 99.1 to this Form 8-K dated June 23, 2026.

Full-year total revenue was $11.15 billion^a, up 3.4% from $10.79 billion, with net income of $1.33 billion ($3.15 EPS) versus $1.55 billion ($3.56 EPS) in the prior year. Adjusted EBITDA was $4.68 billion with an adjusted EBITDA margin of 41.9%, compared with 44.0% in fiscal 2025. Fourth-quarter total revenue rose 8.9% to $2.75 billion, but net income fell 31.3% to $226 million, driven by non-recurring restructuring and relisting costs and higher stock compensation expense.

The company also reported free cash flow of $2.06 billion^b and returned $1.88 billion to shareholders through $1.41 billion of buybacks and $464 million of dividends. The company announced the May 1, 2026 closing of its acquisition of Reliant Asset Management (trade name Aries Building Systems), a modular space solutions provider, for a total purchase price of $650 million, which management expects to be accretive to earnings per share. The company also introduced fiscal 2027 guidance calling for total revenue growth of 4.5% to 7.5% and adjusted EBITDA of $4.85 billion to $5.05 billion, and declared a final fiscal 2026 dividend of $0.75 per share payable July 24, 2026, with a planned transition to quarterly dividends in fiscal 2027.

Separately, under Item 8.01, the company said it expects to hold its first annual meeting of stockholders at 11:30 a.m. Eastern Time on September 1, 2026, and that stockholder nominations and proposals (other than under Rule 14a-8) must be delivered by the close of business on July 3, 2026.

02—Key points

Key Highlights

Full-year fiscal 2026 total revenue of $11.15 billion (up 3.4%) and record-level revenue, with equipment rental revenue of $10.32 billion, up 3.4%.
Net income declined 14.7% to $1.33 billion ($3.15 EPS) for the year; adjusted EPS fell 1.6% to $3.72.
Adjusted EBITDA of $4.68 billion, with adjusted EBITDA margin of 41.9% versus 44.0% in the prior year; North America Specialty rental revenue grew 5.8% for the year.
Free cash flow of $2.06 billion on cash flow from operations of $3.78 billion; net leverage of 1.6x, within the stated 1x to 2x target range.
Acquisition of Reliant Asset Management (Aries Building Systems) closed May 1, 2026 for $650 million, expected to be accretive to EPS.
Fiscal 2027 outlook: total revenue growth of 4.5% to 7.5%, adjusted EBITDA of $4.85 billion to $5.05 billion, and gross rental capital expenditures of $2.45 billion to $2.85 billion.
Final dividend of $0.75 per share (full-year $1.125, up 4%) payable July 24, 2026; company plans to move to quarterly dividends in fiscal 2027.

03—Questions

Frequently Asked Questions

How did Sunbelt Rentals perform in the fourth quarter of fiscal 2026?
Total revenue rose 8.9% to $2.75 billion and equipment rental revenue rose 8.0% to $2.52 billion. Net income fell 31.3% to $226 million, which the company attributed mainly to higher non-recurring restructuring and relisting costs and higher stock compensation expense. Adjusted EBITDA was $1.07 billion, down 1.3%, with adjusted EBITDA margin of 38.7%.
What is the Reliant Asset Management acquisition?
Sunbelt closed the purchase of Reliant Asset Management on May 1, 2026, for a total purchase price of $650 million. Reliant is a modular space solutions provider that goes to market as Aries Building Systems, renting and selling modular structures, mobile offices, classrooms and storage products. The company expects the deal to be accretive to earnings per share and to add a new North America Specialty vertical.
What guidance did the company give for fiscal 2027?
For fiscal 2027, Sunbelt expects total revenue growth of 4.5% to 7.5%, rental revenue growth of 5% to 8%, and adjusted EBITDA of $4.85 billion to $5.05 billion. Net rental equipment capital expenditures are expected to be $2.05 billion to $2.45 billion, and gross rental capital expenditures $2.45 billion to $2.85 billion.
How much did the company return to shareholders and what are its dividend plans?
In fiscal 2026 the company returned $1.88 billion to shareholders, including $1.41 billion of share repurchases and $464 million of dividends. It declared a final dividend of $0.75 per share, payable July 24, 2026 to holders of record on July 10, 2026, and plans to transition to a quarterly dividend in fiscal 2027.
What does the Item 8.01 disclosure mean for stockholders?
The company expects to hold its first annual meeting of stockholders on September 1, 2026, at 11:30 a.m. Eastern Time. Stockholders who want to nominate a director or submit a proposal (other than under Rule 14a-8) must deliver notice to the Corporate Secretary at the company's Fort Mill, South Carolina headquarters by the close of business on July 3, 2026, and comply with the bylaws' other requirements.

04—Continue

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