EquipmentShare.com raised its full-year guidance and authorized a new $500 million buyback program, citing strong demand and better-than-expected financial results in the first half of the year.

The construction equipment rental provider said Thursday it now expects revenue of $5.25 billion to $5.68 billion for 2026, up from its prior guidance of $5.15 billion to $5.58 billion.

EQPT surged over 18% in pre-market trading on Friday.

The company also raised its forecast for adjusted core earnings before interest, taxes, depreciation and amortization to a range of $1.95 billion to $2.06 billion, from $1.88 billion to $2 billion previously.

EquipmentShare said the updated guidance reflects continued strong customer demand, sustained fleet utilization and its better-than-expected performance through the first half of the year.

"Our customers continue to choose EquipmentShare because our technology-enabled rental platform helps them work more productively and more efficiently," Chief Executive Jabbok Schlacks said.

The company said its new buyback program, which expires Dec. 31, 2028, reflects its confidence in its long-term outlook.

(END) Dow Jones Newswires