(RTTNews) – Ashtead Group (AHT.L), a British industrial tools rental agency, reported Tuesday decrease revenue in its first quarter, whereas EBITDA elevated with increased revenues. Trying forward, the corporate stated it has began the yr effectively and expects full-year outcomes shall be in keeping with expectations.
For the primary quarter, revenue earlier than tax was $544 million, down 7 p.c from final yr’s $585 million. Earnings per share was down 10 p.c to 92.4 cents from prior yr’s 102.3 cents.
Adjusted revenue earlier than taxation was $573 million, in comparison with prior yr’s $615 million. Adjusted earnings per share have been 97.4 cents, in comparison with 107.5 cents a yr in the past.
EBITDA, nevertheless, grew 5 p.c from final yr to $1.29 billion.
Income was $2.75 billion, up 2 p.c from $2.70 billion a yr earlier. Rental income went up 7 p.c to $2.54 billion from final yr’s $2.38 billion.
Ashtead’s chief government, Brendan Horgan, stated, “We’re able of power, with the operational flexibility and monetary capability to capitalise on the structural development alternatives we see for the enterprise. We have now began the yr effectively and anticipate full-year outcomes shall be in keeping with our expectations. The Board appears to the longer term with confidence.”
For extra earnings information, earnings calendar, and earnings for shares, go to rttnews.com.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
