v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Total revenues $ 1,204 $ 1,002 $ 2,343 $ 1,863
Expenses:        
Direct operating 491 379 944 706
Depreciation of rental equipment 242 195 484 367
Cost of sales of rental equipment 86 86 195 162
Cost of sales of new equipment, parts and supplies 8 10 17 18
Selling, general and administrative 155 127 301 245
Transaction expenses 3 73 8 147
Non-rental depreciation and amortization 75 45 148 78
Interest expense, net 126 86 254 148
Loss on assets held for sale 0 49 0 49
Other income, net (6) (2) (9) (3)
Total expenses 1,180 1,048 2,342 1,917
Income (loss) before income taxes 24 (46) 1 (54)
Income tax benefit (provision) (5) 11 (6) 1
Net income (loss) $ 19 $ (35) $ (5) $ (53)
Weighted average shares outstanding:        
Basic (in shares) 33.4 30.0 33.4 29.2
Diluted (in shares) 33.5 30.0 33.4 29.2
Income (loss) per share:        
Basic (in USD per share) $ 0.57 $ (1.17) $ (0.15) $ (1.82)
Diluted (in USD per share) $ 0.57 $ (1.17) $ (0.15) $ (1.82)
Equipment rental        
Revenues:        
Total revenues $ 1,072 $ 870 $ 2,053 $ 1,609
Sales of rental equipment        
Revenues:        
Total revenues 110 106 248 211
Sales of new equipment, parts and supplies        
Revenues:        
Total revenues 12 17 25 28
Service and other revenue        
Revenues:        
Total revenues $ 10 $ 9 $ 17 $ 15