Rental Revenue Soars 39% Amidst Expansion

The company experienced a remarkable quarter, with total revenue climbing 26% year-over-year to $1.4 billion. A key driver of this growth was the rental segment, which saw its revenue surge by over 39% to $908 million. This performance was fueled by strong customer demand and expanding market share. The company also noted that mature rental locations, now making up 56% of its network, achieved impressive trailing 12-month EBITDA margins of 55%.

Operational efficiency and strategic execution were evident in the adjusted core EBITDA, which grew by 34% year-over-year to $531 million. The company's investment in new rental locations, with 39 full-service sites opened year-to-date, underscores its commitment to expansion. Furthermore, a robust pipeline of mega projects with upward pricing pressure instills confidence in continued future growth. The T3 technology platform is proving instrumental in deepening customer relationships, with engaged users spending significantly more.