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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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.