EquipmentShare ups full-year guidance

EquipmentShare has raised its full-year guidance citing strong demand, sustained fleet utilization and better than expected financial performance in the first half of the year.

It is now expected total revenues for the year to be in the range US$5.25 billion to $5.68 billion, around 2% up on the previous guidance.

Gross CapEx on fleet is also expected to increase to between $2.66 billion and $2.98 billion, up from $2.28-$2.5 billion.

Photo: EquipmentShare

Jabbok Schlacks, founder and CEO, said customers favoured its technology-enabled approach to rental; “That demand is translating into stronger-than-expected financial performance across our business during the second quarter, giving us the confidence to raise our full-year outlook.

“We are executing our strategy, continuing to take market share, expanding margins driven primarily by maturing rental locations and generating leading returns on invested capital.”

The company’s objective is to have 700 rental locations and a fleet value of $20 billion by 2030. By the end of the current year it plans to have around 450 locations and a $11 billion fleet, at original cost.