Sunbelt Rentals debuts on NYSE with $11.2B revenue, but net income falls 15% on costs

Filed June 23, 2026 · Period ending April 30, 2026 · ~2 min read

Key Changes

• high

  Net income fell 15% to $1.3B despite 3% revenue growth to $11.2B, as operating costs rose 8% (repairs, maintenance, repositioning) and SG&A jumped 19% on $134M redomiciliation costs and $65M stock compensation.

  MD&A: Operating Results verify on EDGAR →
• high

  U.K. segment restructuring triggered goodwill impairment testing; no charge recorded but fair value barely exceeds carrying value, creating risk that modest adverse changes could require future impairment.

  MD&A: U.K. Goodwill verify on EDGAR →
• high

  Company completed U.S. redomiciliation from Ashtead Group plc to Sunbelt Rentals Holdings, Inc. on Feb 27, 2026, with NYSE primary listing and LSE secondary listing; auditor confirmed tax-free treatment but flagged it as critical audit matter.

  Notes: Reorganization verify on EDGAR →