Ashtead – Not Immune From Supply Struggles
Ashtead Group plc (LON:AHT)’s first quarter revenue rose 21% to $1.9bn, reflecting a 22% jump in Rental revenue, which makes up 90% of the group total. Compared to pre-pandemic levels, Rental revenue was up 12%. Q2 2021 hedge fund letters, conferences and more Operating profits rose 53% to $477m. Ashtead now expects full year Rental revenue to rise 13 – 16%, up from 6%-9%, as Canada and the UK are surpassing expectations. The shares rose 2.9% following the announcement. A Look At Ashtead's Numbers ____ “Ashtead is a textbook cyclical company. Renting out industrial and construction equipment m...