NYSE:SUNBTrade Distributors
Sunbelt Rentals Holdings (SUNB) Is Up 8.0% After Launching New US$1.5 Billion Buyback Program
In recent days, Sunbelt Rentals Holdings reported total revenue growth, a 2.6% increase in rental revenue, record free cash flow, US$1.90 billion of year-to-date investment in rental fleet, greenfield expansions and ten bolt-on acquisitions, and launched a new US$1.50 billion share buyback program under its Sunbelt 4.0 plan.
This combination of increased rental activity, heavy reinvestment and sizable share repurchases highlights management’s confidence in the company’s cash generation and...