v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues:        
Total revenues $ 1,364 $ 1,304 $ 3,707 $ 3,167
Expenses:        
Direct operating 532 467 1,476 1,173
Depreciation of rental equipment 255 246 739 613
Cost of sales of rental equipment 68 134 263 296
Cost of sales of new equipment, parts and supplies 9 12 26 30
Selling, general and administrative 178 166 479 411
Transaction expenses 1 38 9 185
Non-rental depreciation and amortization 74 70 222 148
Interest expense, net 126 134 380 282
(Gain) loss on assets held for sale 0 (1) 0 48
Other expense (income), net 1 0 (8) (3)
Total expenses 1,244 1,266 3,586 3,183
Income (loss) before income taxes 120 38 121 (16)
Income tax provision (16) (8) (22) (7)
Net income (loss) $ 104 $ 30 $ 99 $ (23)
Weighted average shares outstanding:        
Basic (in shares) 33.4 33.2 33.4 30.6
Diluted (in shares) 33.5 33.3 33.5 30.6
Income (loss) per share:        
Basic (in USD per share) $ 3.11 $ 0.90 $ 2.96 $ (0.75)
Diluted (in USD per share) $ 3.10 $ 0.90 $ 2.96 $ (0.75)
Equipment rental        
Revenues:        
Total revenues $ 1,254 $ 1,122 $ 3,307 $ 2,731
Sales of rental equipment        
Revenues:        
Total revenues 85 151 333 362
Sales of new equipment, parts and supplies        
Revenues:        
Total revenues 13 18 38 46
Service and other revenue        
Revenues:        
Total revenues $ 12 $ 13 $ 29 $ 28