Ashtead Group PLC

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Ashtead Group Plc engages in the provision of equipment rental services. The company offers a full range of construction and industrial equipment. Its specialty product range includes equipment types such as pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services. It operates through the following geographical segments: the United States, the United Kingdom, and Canada. The company was founded by Peter Donald Lewis and George Burnett on April 11, 1984 and is headquartered in London, the United Kingdom.

ASHTY reports a year-over-year increase in Q2 revenues on higher rental revenues. It lowers its FY25 revenue growth guidance, citing a weaker U.S. market.

Ashtead Group's Q2 Earnings Miss Estimates, Revenues Rise Y/Y

I maintain a buy rating for Ashtead Group, confident in its long-term growth potential despite near-term uncertainties and recent earnings misses. AHT's FY29 adj EBITDA guidance remains achievable, driven by strong demand for mega projects and positive forward-looking indicators like the Dodge momentum index. Near-term risks include elevated interest rates impacting local construction demand and potential policy changes from Trump.

Ashtead Group: Near-Term Performance Is Uncertain, But Upside Remains Attractive

Ashtead Group PLC (LSE:AHT) faced a sharp drop for a second day running on Wednesday as analysts trimmed estimates in the wake of Tuesday's cut to full-year guidance. Though the industrial equipment rental firm detailed plans to shift its primary listing from London to the US, the news was overshadowed by a separate profit warning in interims.

Ashtead tumbles further as profit warning prompts flurry of analyst cuts

Ashtead Group plc (OTCPK:ASHTF) Q2 2025 Results Conference Call December 10, 2024 5:00 AM ET Company Participants Brendan Horgan - CEO & Executive Director Michael Pratt - CFO & Director Conference Call Participants William Kirkness - Bernstein SG Rory Mckenzie - UBS Suhasini Varanasi - Goldman Sachs Katie Fleischer - KeyBanc Capital Markets Arnaud Lehmann - Bank of America Lush Mahendrarajah - JP Morgan Neil Tyler - Redburn Atlantic James Rose - Barclays Allen Wells - Jefferies Karl Green - RBC Mark Howson - Dowgate Capital Brendan Horgan Thank you, operator, and good morning, everyone, and welcome to the Ashtead Group Q2 results presentation. As usual, I'm joined this morning by Michael Pratt and Will Shaw.

Ashtead Group plc (ASHTF) Q2 2025 Earnings Call Transcript

Ashtead Group PLC (LSE:AHT) underwhelmed with plans to switch its primary listing to the US on Tuesday as a poor set of results clouded the news. Shares fell 12.4% to 5,492p in the wake of the two updates, placing Ashtead firmly ahead among the FTSE 100's biggest daily losers.

Ashtead slumps 12% as guidance cut clouds listing switch news

London Stock Exchange Group PLC

The FTSE 100 equipment rental company said moving its primary listing to the U.S. increase it exposure to investors and allow for its inclusion in “premier U.S. equity indices.”

Ashtead Group to leave London Stock Exchange for U.S. in another blow to U.K.'s main market

European stock markets opened Tuesday in negative territory, with the pan-European Stoxx 600 down 0.2%. Basic resources stocks led the losses, falling 1.2%, as disappointing Chinese trade figures weighed on investor sentiment.

European markets dip as traders anticipate US inflation report, Ashtead to move listing to New York

The equipment rental company cited commercial construction dynamics in the U.S. for lowering its guidance and said the country is its natural long-term listing venue.

Ashtead to Move Listing to U.S., Cuts Guidance

Ashtead Group PLC (LSE:AHT) has proposed switching its primary listing from the UK to the US, marking yet another blow to London. “The board has concluded that the US market is the natural long-term listing venue for the group and that moving to a US primary listing is in the best interests of the business and its stakeholders,” the industrial equipment rental firm said on Tuesday.

Ashtead paves way for primary listing switch to US in new blow to London

Plant hire giant has Ashtead Group PLC (LSE:AHT) copped a downgrade from analysts at Deutsche Bank the day before its latest quarterly update Hold from buy is the new recommendation though Deutsche Bank says that Ashtead is the second-largest US equipment rental operator in the US and longer-term prospects are fine. Specifically, there is a structural shift from buy to rental, which will the larger sector operators from scale and high service levels to customers.

Ashtead gets downgrade ahead of quarterly update

Ashtead Group PLC (LSE:AHT) shares have risen strongly since its last update in September with the prospect of a bumper construction spending spree by new US President Donald Trump adding to the momentum. Next week's second-quarter update will not have any benefit from that, but the US-focused plant hire group maintaining its full-year guidance in September has eased many of the concerns that surfaced mid-year.

Ashtead's 'Trump bump' comments something to watch next week

Ashtead Technology Holdings PLC (LSE:AT) has acquired underwater rentals businesses Seatronics and J2, for £63 million in cash. The deal is funded by a £70 million increase in Ashtead's revolving credit facility.

Ashtead Technology's new acquisition expands subsea offering for renewables and offshore hydrocarbons

I maintain a buy rating for Ashtead Group stock due to sustained growth prospects and potential recovery in 2025 as macro conditions improve. ASHTF's Q1 FY25 results show strong revenue and EBITDA growth, driven by rental revenue growth. Near-term growth is supported by the end of industry strikes, while long-term growth is bolstered by increasing megaproject deals.

Ashtead Group: Expecting EBITDA To Continue Growing In The Coming Years

ASHTY Q1 revenues rise year over year, driven by an increase in mega projects and the strength in the Specialty business.

Ashtead Group Q1 Earnings Surpass Estimates, Revenues Rise Y/Y

Ashtead Group plc (OTCPK:ASHTF) Q1 2025 Earnings Conference Call September 1, 2024 5:00 AM ET Company Participants Brendan Horgan - CEO & Executive Director Michael Pratt - CFO & Director Conference Call Participants Annelies Vermeulen - Morgan Stanley Lush Mahendrarajah - JP Morgan Suhasini Varanasi - Goldman Sachs Rory Mckenzie - UBS Arnaud Lehmann - Bank of America Neil Tyler - Redburn Atlantic Karl Green - RBC Allen Wells - Jefferies William Kirkness - Bernstein SG Mark Howson - Dowgate Capital Katie Fleischer - KeyBanc Capital Markets Operator Hello, and welcome to the Analyst Call for Ashtead Group Plc Q1 Results. I'll shortly be handing you over to Brendan Horgan and Michael Pratt, who will take you through today's presentation.

Ashtead Group plc (ASHTF) Q1 2025 Earnings Call Transcript

News that construction equipment contractor Ashtead Group PLC (LSE:AHT) is bringing in WestRock alumnus Alex Pease as chief financial officer suggests that the FTSE 100-listed group is closer than ever to announcing a departure from the London Stock Exchange. Pease, who led the finances at WestRock until its recent merger with Smurfitt Kappa, intends to stay put in Fort Mill, South Carolina, where he will join forces with Ashtead's chief executive Brendan Horgan.

Ashtead's US flight moves closer to reality

Construction equipment rental company Ashtead Group PLC (LSE:AHT) saw a 7% increase in rental revenue but declining profit before tax on a year-on-year basis in the first half. This was predominantly due to tighter margins in the US and Canada, only slightly offset by a margin improvement in the UK.

Ashtead hit by tighter US margins, but forward guidance reassures

Ashtead Technology Holdings PLC (AIM:AT.) reported strong growth in revenue and profit for the first half of the year, driven by high demand in offshore renewables and oil & gas sectors.

Ashtead Technology reports 61% revenue growth as offshore energy demand remains strong

Ashtead Group PLC (LSE:AHT), which reports results for the first quarter of its financial year next Tuesday, has seen its shares retreat around 12% from the two-and-a-half-year highs reached in April and May. Much of that share price slippage for the FTSE 100-listed, but US-focused construction equipment hire group was on the back of year-end results in June that were slightly shy of previous guidance the mark but delivered a disappointing outlook for the new fiscal year.

Ashtead approaches quarterly update with expectations lowered

Ashtead has been a highly rewarding stock, up 153% in the past five years and over 6,000% since 2010. Ashtead is a leading player in the equipment rentals business, with a strong presence in North America. Ashtead's performance remains strong, with growth strategies in place and potential for expansion into new markets.

Ashtead: Growth Story Looks Set To Continue

I remain buy rated on Ashtead stock. Share price fell recently due to customer bankruptcy concerns, but I don't think this is much of an issue. ASHTF benefits from industry consolidation, high construction demand, and strong balance sheet.

Ashtead Group: Long-Term Growth Outlook Remains Very Healthy

Ashtead Group plc (OTCPK:ASHTF) Q4 2024 Earnings Conference Call June 18, 2024 4:30 AM ET Company Participants Brendan Horgan - CEO & Executive Director Michael Pratt - CFO & Director Conference Call Participants James Rosenthal - Barclays Annelies Vermeulen - Morgan Stanley William Kirkness - Bernstein SG Lush Mahendrarajah - JP Morgan Suhasini Varanasi - Goldman Sachs Allen Wells - Jefferies Brendan Horgan Good. Good morning, everyone.

Ashtead Group plc (ASHTF) Q4 2024 Earnings Call Transcript

Shares in Ashtead Group PLC (LSE:AHT) are now down almost 4% on the back of this morning's fourth-quarter update. The results are "broadly in line with consensus", says analyst Edward Prest at Liberum.

Ashtead shares tumble; analysts claim outlook 'a little soft'

Ashtead Group PLC (LSE:AHT) (Ashtead Group PLC (LSE:AHT)) declared a 5% dividend hike after reporting lower revenue growth than expected and a drop in profit for the past 12 months. The FTSE 100-listed construction equipment group also kept schtum on the subject of a mooted potential move of its main listing from London to New York - though directors will be quizzed on the subject on the call later.

Ashtead profit shrinks as rental revenue grows less than expected

Ashtead Group PLC (LSE:AHT) (Ashtead Group PLC (LSE:AHT)) full-year results are due Tuesday with the plant hire giant mulling whether it, too, should shift its listing to the US. Like peer CRH, which has already made the switch, Ashtead is effectively a US business anyway but its departure would be another blow to London's standing.

News for Ashtead Group PLC Stock (ASHTY)