LONDON (dpa-AFX) - Ashtead Group Plc. (AHT.L), a British industrial equipment rental company, reported Tuesday lower profit in its second quarter, despite higher revenues.
Looking ahead for fiscal 2026, the company reaffirmed Group rental revenue guidance of 0 percent to 4 percent.
Ashtead Group also announced a new share buyback programme of $1.5 billion commencing March 2, 2026, to coincide with the re-listing to the NYSE, which remains on track.
In the second quarter, profit before taxation declined 12 percent to $571 million from last year's $653 million. Earnings per share dropped 10 percent to 100.4 cents from 111.3 cents last year.
Adjusted profit before taxation was $656 million, down 4 percent from $682 million a year ago. Adjusted earnings per share were 116.8 cents, 1 percent higher than 116.2 cents last year.
Adjusted EBITDA dropped 2 percent to $1.38 billion from prior year's $1.41 billion.
Revenue increased 1 percent to $2.96 billion from last year's $2.94 billion. Rental revenue grew 1 percent year-over-year to $2.76 billion.
Further, the company announced interim dividend of 37.5 cents per share, up 4 percent from last year's 36.0 cents per share.
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