EquipmentShare Refutes Claims in Short Seller Report
US construction equipment rental provider EquipmentShare has issued a statement responding to an inaccurate report by short seller Blue Orca Capital.
EquipmentShare, a US-based provider of construction equipment rentals and connected jobsite technology, has publicly addressed a report issued by short seller Blue Orca Capital. The company asserts that the report mischaracterizes its business model, financial statements, and the OWN Program.
The company stated that the author of the report, which has a disclosed short position, stands to profit directly from short-term stock volatility driven by misleading claims. EquipmentShare emphasized that it accounts for all material commercial agreements, including the OWN Program, in strict accordance with U.S. Generally Accepted Accounting Principles (GAAP) and SEC disclosure requirements. Its financial statements are independently audited by a Big 4 accounting firm.
EquipmentShare maintains that its fundamentals, addressable market, and long-term momentum are stronger than ever. The company expressed confidence that its continued strategic execution and business strength will deliver long-term shareholder value. The company is focused on expanding its footprint in the construction technology and rental markets.
Headquartered in Columbia, Missouri, EquipmentShare is one of the largest construction equipment rental providers in the United States.