Sunbelt Rentals targets FY2027 sales of $11.65B-$11.99B
Sunbelt Rentals Holdings issued fiscal 2027 guidance targeting sales between $11.652 billion and $11.986 billion, driven by expected rental revenue growth of 5% to 8%. This follows a record fiscal 2026 where the company achieved $11.154 billion in revenue and completed the $650 million acquisition of Reliant Asset Management.
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Sunbelt Rentals Holdings, Inc. has provided a fiscal 2027 outlook projecting total revenue between $11.652 billion and $11.986 billion, representing growth of 4.5% to 7.5% over the prior year. This guidance follows the company's record fiscal 2026 performance, which achieved total revenue of $11,154 million for the year ended April 30, 2026. The company also recently completed the acquisition of Reliant Asset Management for $650 million to expand its modular space solutions capabilities.
Fiscal 2027 Outlook
The company has established specific financial targets for the upcoming fiscal year, including rental revenue growth expectations and capital expenditure plans.
| Metric: | FY2027 Outlook | FY2026 Actual |
|---|---|---|
| Total Revenue Growth: | 4.5% to 7.5% | $11.15 billion |
| Rental Revenue Growth: | 5% to 8% | $10.32 billion |
| Adjusted EBITDA: | $4.85 billion to $5.05 billion | $4.68 billion |
| Net Rental Equipment Capital Expenditures: | $2.05 billion to $2.45 billion | $1.42 billion |
| Gross Rental Capital Expenditures: | $2.45 billion to $2.85 billion | $1.84 billion |
Fiscal 2026 Performance Summary
For the full fiscal year 2026, Sunbelt Rentals reported total revenue of $11,154 million, an increase of 3.4% year-over-year. The North America Specialty segment was a key driver, with rental revenue growing 5.8% for the full year and 15.1% in the fourth quarter. Adjusted EBITDA for the year was $4,677 million, with a margin of 41.9%, while free cash flow reached $2,055 million.
Capital Allocation and Returns
The company returned $1,877 million to shareholders in fiscal 2026, comprising $1,413 million in share buybacks and $464 million in dividends. A new share buyback program of $1.5 billion commenced on March 2, 2026. The Board of Directors declared a final dividend of $0.75 per share, payable on July 24, 2026, bringing the full-year dividend to $1.125, a 4% increase over the prior year.
How will the significant increase in capital expenditure plans for fiscal 2027 impact the company's free cash flow generation compared to the prior year?
What specific revenue synergies does Sunbelt Rentals expect to realize from the Reliant Asset Management acquisition within the fiscal 2027 outlook?
Will the aggressive share buyback program continue beyond the current $1.5 billion authorization given the projected rise in capital investments?
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