EquipmentShare.com Inc. (EQPT) had a good Friday. The construction equipment provider raised its full-year 2026 financial outlook and announced a $500 million stock buyback program, sending shares up 17.38% in premarket trading to $18.78.

Let's start with the numbers. EquipmentShare now expects annual revenue between $5.25 billion and $5.68 billion, up from its previous forecast of $5.15 billion to $5.58 billion. Adjusted core EBITDA is also getting a bump: the company now sees $1.95 billion to $2.06 billion, versus the earlier $1.88 billion to $2.00 billion.

Rental segment revenue is expected to hit $3.47 billion to $3.75 billion, up from $3.37 billion to $3.64 billion. The company also raised its original equipment cost forecast from $10.15 billion–$11.20 billion to $10.58 billion–$11.63 billion.

Management credited the stronger outlook to continued customer demand, sustained fleet utilization, disciplined execution, and a better-than-expected first half of the year.

On the location front, EquipmentShare is sticking with its target of 427 to 435 full-service rental locations by year-end. It expects 264 mature rental locations at the end of 2026, up from 186 at the end of 2025.

Now for the buyback. The board authorized the repurchase of up to $500 million of Class A common stock through Dec. 31, 2028. The program gives the company flexibility to buy shares depending on market conditions, but doesn't require it to buy a specific number. It's a nice tool to have in the toolbox.

EquipmentShare expects approximately $2.6 billion in pro forma liquidity at the end of the second quarter. That includes cash, cash equivalents, undrawn borrowing capacity, and $1.3 billion in net bond proceeds funded on July 1.

Looking further ahead, the company aims to expand to 700 rental locations and manage $20 billion in original equipment cost by 2030. That's a lot of bulldozers.