<p>Ashtead Group plc（(GB:AHT)）已举行其第二季度财报电话会议。请继续阅读会议的主要亮点。</p>
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<p>Ashtead Group plc 最近的财报电话会议呈现出一种平衡的情绪，突出了令人印象深刻的财务成就和显著的挑战。公司报告了自由现金流和股东回报的显著增长，但也面临着安静的飓风季节和英国的重组等障碍。积极的指标表明未来可能的增长，但利润压力和市场条件的复杂性仍然是令人担忧的问题。</p>
<h2>强劲的自由现金流增长</h2>
<p>Ashtead Group plc 报告称，在资本支出用于车队和业务扩展后，自由现金流同比增长了惊人的 164%，达到 11 亿美元。这一显著增长凸显了公司的强大财务健康状况和对其运营的战略投资。</p>
<h2>股东回报和新回购计划</h2>
<p>公司通过分红和股票回购向股东返还了超过 10 亿美元，并宣布了一项新的 15 亿美元回购计划。这一举措反映了 Ashtead 对提升股东价值和对其财务稳定性的信心。</p>
<h2>大型项目活动和市场份额增长</h2>
<p>Ashtead 报告称在大型项目中活动强劲，区域和国家战略客户的市场份额不断增加。这一增长表明公司在市场中的成功定位和竞争优势。</p>
<h2>创纪录的自由现金流指引</h2>
<p>公司重申了其自由现金流的指引，预计财政年度的自由现金流将在 22 亿美元至 25 亿美元之间。这一乐观的展望突显了 Ashtead 在维持其财务势头方面的信心。</p>
<h2>积极的领先指标</h2>
<p>如 Dodge 动量指数等指标保持高位，表明非住宅建筑未来可能增长。这些积极的迹象指向 Ashtead 在扩大市场存在方面的潜在机会。</p>
<h2>安静的飓风季节的影响</h2>
<p>由于非常安静的飓风季节，收入增长受到影响，飓风对收入的贡献显著低于去年。这一因素对 Ashtead 的收入预期构成了挑战。</p>
<h2>英国市场挑战和重组</h2>
<p>英国市场面临挑战，租赁收入下降 2%，导致采取重组措施，如位置整合和退出非核心业务。记录了一项 3700 万美元的重组费用，表明公司在优化运营方面的战略转变。</p>
<h2>持续的利润压力</h2>
<p>由于车队中较大部分设备已过保修期，内部维修成本上升，加之二手设备处置收益降低，利润受到压力。这些因素突显了 Ashtead 需要解决的运营挑战。</p>
<h2>建筑终端市场的复杂性</h2>
<p>建筑终端市场仍然复杂，当地非住宅建筑市场有所减缓。这种变动性为 Ashtead 在应对市场动态时带来了挑战和机遇。</p>
<h2>前瞻性指引</h2>
<p>在财报电话会议中，Ashtead Group 重申了其强大的财务状况和未来增长前景。尽管飓风季节安静，公司在 2026 财年上半年报告了 2% 的租赁收入增长，第二季度的基础增长为 3%。公司保持乐观，引用积极的领先指标，并维持全年租赁收入增长、资本支出和自由现金流在 22 亿美元至 25 亿美元之间的指引。</p>
<p>总之，Ashtead Group plc 的财报电话会议反映出一种平衡的情绪，自由现金流增长和股东回报方面取得了显著成就。然而，安静的飓风季节和英国重组等挑战也被强调。公司对未来增长保持乐观，得益于积极的领先指标和重申的指引。</p>

ASHTY

<p>Ashtead Group 的第二季度财报电话会议强调了自由现金流和股东回报的显著增长，尽管面临如飓风季节平静和英国重组等挑战。公司报告自由现金流增长了 164%，宣布了一项 15 亿美元的回购计划，并预计本财年的自由现金流将在 22 亿至 25 亿美元之间。积极的指标表明未来增长，但利润压力和市场状况的复杂性仍然是令人担忧的问题</p>

<p>Ashtead Group plc ((GB:AHT)) has held its Q2 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>Ashtead Group plc（(GB:AHT)）已举行其第二季度财报电话会议。请继续阅读会议的主要亮点。</p>
</div><h3>Claim 50% Off TipRanks Premium and Invest with Confidence</h3>
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<li>Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions</li>
<li>Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential</li>
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<li>解锁对冲基金级别的数据和强大的投资工具，帮助您做出更聪明、更精准的决策</li>
<li>通过最新的新闻和分析保持市场领先，使您的投资组合始终处于最大潜力的状态</li>
</ul>
</div><p>The recent earnings call for Ashtead Group plc presented a balanced sentiment, highlighting both impressive financial achievements and notable challenges. The company reported significant growth in free cash flow and shareholder returns, yet faced hurdles such as a quiet hurricane season and restructuring in the U.K. Positive indicators suggest potential future growth, but margin pressures and mixed market conditions remain concerns.</p>
<div class="lb-trans"><p>Ashtead Group plc 最近的财报电话会议呈现出一种平衡的情绪，突出了令人印象深刻的财务成就和显著的挑战。公司报告了自由现金流和股东回报的显著增长，但也面临着安静的飓风季节和英国的重组等障碍。积极的指标表明未来可能的增长，但利润压力和市场条件的复杂性仍然是令人担忧的问题。</p>
</div><h2>Strong Free Cash Flow Growth</h2>
<div class="lb-trans"><h2>强劲的自由现金流增长</h2>
</div><p>Ashtead Group plc reported a remarkable 164% year-over-year growth in free cash flow after capital expenditures for fleet and business expansion, reaching $1.1 billion. This substantial increase underscores the company’s robust financial health and strategic investment in its operations.</p>
<div class="lb-trans"><p>Ashtead Group plc 报告称，在资本支出用于车队和业务扩展后，自由现金流同比增长了惊人的 164%，达到 11 亿美元。这一显著增长凸显了公司的强大财务健康状况和对其运营的战略投资。</p>
</div><h2>Shareholder Returns and New Buyback Program</h2>
<div class="lb-trans"><h2>股东回报和新回购计划</h2>
</div><p>The company returned over $1 billion to shareholders through dividends and share buybacks, announcing a new $1.5 billion buyback program. This move reflects Ashtead’s commitment to enhancing shareholder value and confidence in its financial stability.</p>
<div class="lb-trans"><p>公司通过分红和股票回购向股东返还了超过 10 亿美元，并宣布了一项新的 15 亿美元回购计划。这一举措反映了 Ashtead 对提升股东价值和对其财务稳定性的信心。</p>
</div><h2>Mega Project Activity and Market Share Gains</h2>
<div class="lb-trans"><h2>大型项目活动和市场份额增长</h2>
</div><p>Ashtead reported strong activity in mega projects, with increasing market share among regional and national strategic customers. This growth indicates the company’s successful positioning and competitive edge in the market.</p>
<div class="lb-trans"><p>Ashtead 报告称在大型项目中活动强劲，区域和国家战略客户的市场份额不断增加。这一增长表明公司在市场中的成功定位和竞争优势。</p>
</div><h2>Record Free Cash Flow Guidance</h2>
<div class="lb-trans"><h2>创纪录的自由现金流指引</h2>
</div><p>The company reaffirmed its guidance for free cash flow, projecting it to be between $2.2 billion and $2.5 billion for the fiscal year. This optimistic outlook highlights Ashtead’s confidence in sustaining its financial momentum.</p>
<div class="lb-trans"><p>公司重申了其自由现金流的指引，预计财政年度的自由现金流将在 22 亿美元至 25 亿美元之间。这一乐观的展望突显了 Ashtead 在维持其财务势头方面的信心。</p>
</div><h2>Positive Leading Indicators</h2>
<div class="lb-trans"><h2>积极的领先指标</h2>
</div><p>Indicators such as the Dodge Momentum Index remain high, suggesting future growth in nonresidential construction. These positive signs point to potential opportunities for Ashtead in expanding its market presence.</p>
<div class="lb-trans"><p>如 Dodge 动量指数等指标保持高位，表明非住宅建筑未来可能增长。这些积极的迹象指向 Ashtead 在扩大市场存在方面的潜在机会。</p>
</div><h2>Impact of Quiet Hurricane Season</h2>
<div class="lb-trans"><h2>安静的飓风季节的影响</h2>
</div><p>Revenue growth was impacted by a very quiet hurricane season, with hurricanes contributing significantly less to revenue compared to the previous year. This factor posed a challenge to Ashtead’s revenue expectations.</p>
<div class="lb-trans"><p>由于非常安静的飓风季节，收入增长受到影响，飓风对收入的贡献显著低于去年。这一因素对 Ashtead 的收入预期构成了挑战。</p>
</div><h2>U.K. Market Challenges and Restructuring</h2>
<div class="lb-trans"><h2>英国市场挑战和重组</h2>
</div><p>The U.K. market faced challenges, with rental revenue down by 2%, leading to restructuring actions such as location consolidation and exiting noncore lines. A $37 million charge related to restructuring was recorded, indicating a strategic shift to optimize operations.</p>
<div class="lb-trans"><p>英国市场面临挑战，租赁收入下降 2%，导致采取重组措施，如位置整合和退出非核心业务。记录了一项 3700 万美元的重组费用，表明公司在优化运营方面的战略转变。</p>
</div><h2>Continued Margin Pressure</h2>
<div class="lb-trans"><h2>持续的利润压力</h2>
</div><p>Margins were pressured by higher internal repair costs as a larger portion of the fleet is out of warranty, along with lower gains on disposals of used equipment. These factors highlight operational challenges that Ashtead needs to address.</p>
<div class="lb-trans"><p>由于车队中较大部分设备已过保修期，内部维修成本上升，加之二手设备处置收益降低，利润受到压力。这些因素突显了 Ashtead 需要解决的运营挑战。</p>
</div><h2>Mixed Construction End Markets</h2>
<div class="lb-trans"><h2>建筑终端市场的复杂性</h2>
</div><p>The construction end markets remain mixed, with a moderated local nonresidential construction market. This variability presents both challenges and opportunities for Ashtead in navigating market dynamics.</p>
<div class="lb-trans"><p>建筑终端市场仍然复杂，当地非住宅建筑市场有所减缓。这种变动性为 Ashtead 在应对市场动态时带来了挑战和机遇。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指引</h2>
</div><p>Ashtead Group reaffirmed its strong financial position and future growth prospects during the earnings call. Despite a quiet hurricane season, the company reported a 2% rental revenue growth for the first half of fiscal year 2026, with underlying growth at 3% in the second quarter. The company remains optimistic, citing positive leading indicators and maintaining its full-year guidance for rental revenue growth, capital expenditure, and free cash flow between $2.2 billion and $2.5 billion.</p>
<div class="lb-trans"><p>在财报电话会议中，Ashtead Group 重申了其强大的财务状况和未来增长前景。尽管飓风季节安静，公司在 2026 财年上半年报告了 2% 的租赁收入增长，第二季度的基础增长为 3%。公司保持乐观，引用积极的领先指标，并维持全年租赁收入增长、资本支出和自由现金流在 22 亿美元至 25 亿美元之间的指引。</p>
</div><p>In summary, the earnings call for Ashtead Group plc reflected a balanced sentiment, with significant achievements in free cash flow growth and shareholder returns. However, challenges such as the quiet hurricane season and U.K. restructuring were also highlighted. The company remains optimistic about future growth, supported by positive leading indicators and reaffirmed guidance.</p>
<div class="lb-trans"><p>总之，Ashtead Group plc 的财报电话会议反映出一种平衡的情绪，自由现金流增长和股东回报方面取得了显著成就。然而，安静的飓风季节和英国重组等挑战也被强调。公司对未来增长保持乐观，得益于积极的领先指标和重申的指引。</p>
</div>

Ashtead Group 的财报电话会议突显了其增长与挑战