Ashtead Group PLC (AHT.L), an equipment rental company, Tuesday reported profit before taxation or $652.6 million for the second quarter, lower than $665.9 million in the same quarter a year ago.
Excluding one-time items, adjusted profit before tax decreased 2 percent to $681.8 million from $696.9 million last year.
Net profit declined to $486 million or 111 cents per share from $494 million or 112.5 cents per share a year ago. Adjusted profit was $508 million or 116 cents per share, down from $517.2 million or 117.8 cents per share last year.
Revenue for the quarter, however, grew 2 percent to $2.941 billion from $2.877 billion in the previous year.
Additionally, Ashtead announced its decision to buy back shares of up to $1.5 billion over the next 18 months.
The Board has increased the interim dividend to 36 cents per share from 15.75 cents per share, to be paid on February 7 to shareholders on the register on January 10.
Looking ahead, the company has lowered its full-year rental revenue growth outlook to 3 percent - 5 percent from 5 percent - 8 percent guided earlier. Consequently, Ashtead now expects full-year profit to be lower than its previous outlook.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.