<p>Ashtead Group plc（(GB:AHT)）已舉行其第二季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
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<p>Ashtead Group plc 最近的財報電話會議呈現出一種平衡的情緒，突出了令人印象深刻的財務成就和顯著的挑戰。公司報告了自由現金流和股東回報的顯著增長，但也面臨着安靜的颶風季節和英國的重組等障礙。積極的指標表明未來可能的增長，但利潤壓力和市場條件的複雜性仍然是令人擔憂的問題。</p>
<h2>強勁的自由現金流增長</h2>
<p>Ashtead Group plc 報告稱，在資本支出用於車隊和業務擴展後，自由現金流同比增長了驚人的 164%，達到 11 億美元。這一顯著增長凸顯了公司的強大財務健康狀況和對其運營的戰略投資。</p>
<h2>股東回報和新回購計劃</h2>
<p>公司通過分紅和股票回購向股東返還了超過 10 億美元，並宣佈了一項新的 15 億美元回購計劃。這一舉措反映了 Ashtead 對提升股東價值和對其財務穩定性的信心。</p>
<h2>大型項目活動和市場份額增長</h2>
<p>Ashtead 報告稱在大型項目中活動強勁，區域和國家戰略客户的市場份額不斷增加。這一增長表明公司在市場中的成功定位和競爭優勢。</p>
<h2>創紀錄的自由現金流指引</h2>
<p>公司重申了其自由現金流的指引，預計財政年度的自由現金流將在 22 億美元至 25 億美元之間。這一樂觀的展望突顯了 Ashtead 在維持其財務勢頭方面的信心。</p>
<h2>積極的領先指標</h2>
<p>如 Dodge 動量指數等指標保持高位，表明非住宅建築未來可能增長。這些積極的跡象指向 Ashtead 在擴大市場存在方面的潛在機會。</p>
<h2>安靜的颶風季節的影響</h2>
<p>由於非常安靜的颶風季節，收入增長受到影響，颶風對收入的貢獻顯著低於去年。這一因素對 Ashtead 的收入預期構成了挑戰。</p>
<h2>英國市場挑戰和重組</h2>
<p>英國市場面臨挑戰，租賃收入下降 2%，導致採取重組措施，如位置整合和退出非核心業務。記錄了一項 3700 萬美元的重組費用，表明公司在優化運營方面的戰略轉變。</p>
<h2>持續的利潤壓力</h2>
<p>由於車隊中較大部分設備已過保修期，內部維修成本上升，加之二手設備處置收益降低，利潤受到壓力。這些因素突顯了 Ashtead 需要解決的運營挑戰。</p>
<h2>建築終端市場的複雜性</h2>
<p>建築終端市場仍然複雜，當地非住宅建築市場有所減緩。這種變動性為 Ashtead 在應對市場動態時帶來了挑戰和機遇。</p>
<h2>前瞻性指引</h2>
<p>在財報電話會議中，Ashtead Group 重申了其強大的財務狀況和未來增長前景。儘管颶風季節安靜，公司在 2026 財年上半年報告了 2% 的租賃收入增長，第二季度的基礎增長為 3%。公司保持樂觀，引用積極的領先指標，並維持全年租賃收入增長、資本支出和自由現金流在 22 億美元至 25 億美元之間的指引。</p>
<p>總之，Ashtead Group plc 的財報電話會議反映出一種平衡的情緒，自由現金流增長和股東回報方面取得了顯著成就。然而，安靜的颶風季節和英國重組等挑戰也被強調。公司對未來增長保持樂觀，得益於積極的領先指標和重申的指引。</p>

ASHTY

<p>Ashtead Group 的第二季度財報電話會議強調了自由現金流和股東回報的顯著增長，儘管面臨如颶風季節平靜和英國重組等挑戰。公司報告自由現金流增長了 164%，宣佈了一項 15 億美元的回購計劃，並預計本財年的自由現金流將在 22 億至 25 億美元之間。積極的指標表明未來增長，但利潤壓力和市場狀況的複雜性仍然是令人擔憂的問題</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)）已舉行其第二季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
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<li>解鎖對沖基金級別的數據和強大的投資工具，幫助您做出更聰明、更精準的決策</li>
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</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 最近的財報電話會議呈現出一種平衡的情緒，突出了令人印象深刻的財務成就和顯著的挑戰。公司報告了自由現金流和股東回報的顯著增長，但也面臨着安靜的颶風季節和英國的重組等障礙。積極的指標表明未來可能的增長，但利潤壓力和市場條件的複雜性仍然是令人擔憂的問題。</p>
</div><h2>Strong Free Cash Flow Growth</h2>
<div class="lb-trans"><h2>強勁的自由現金流增長</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 報告稱，在資本支出用於車隊和業務擴展後，自由現金流同比增長了驚人的 164%，達到 11 億美元。這一顯著增長凸顯了公司的強大財務健康狀況和對其運營的戰略投資。</p>
</div><h2>Shareholder Returns and New Buyback Program</h2>
<div class="lb-trans"><h2>股東回報和新回購計劃</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>公司通過分紅和股票回購向股東返還了超過 10 億美元，並宣佈了一項新的 15 億美元回購計劃。這一舉措反映了 Ashtead 對提升股東價值和對其財務穩定性的信心。</p>
</div><h2>Mega Project Activity and Market Share Gains</h2>
<div class="lb-trans"><h2>大型項目活動和市場份額增長</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 報告稱在大型項目中活動強勁，區域和國家戰略客户的市場份額不斷增加。這一增長表明公司在市場中的成功定位和競爭優勢。</p>
</div><h2>Record Free Cash Flow Guidance</h2>
<div class="lb-trans"><h2>創紀錄的自由現金流指引</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>公司重申了其自由現金流的指引，預計財政年度的自由現金流將在 22 億美元至 25 億美元之間。這一樂觀的展望突顯了 Ashtead 在維持其財務勢頭方面的信心。</p>
</div><h2>Positive Leading Indicators</h2>
<div class="lb-trans"><h2>積極的領先指標</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 動量指數等指標保持高位，表明非住宅建築未來可能增長。這些積極的跡象指向 Ashtead 在擴大市場存在方面的潛在機會。</p>
</div><h2>Impact of Quiet Hurricane Season</h2>
<div class="lb-trans"><h2>安靜的颶風季節的影響</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>由於非常安靜的颶風季節，收入增長受到影響，颶風對收入的貢獻顯著低於去年。這一因素對 Ashtead 的收入預期構成了挑戰。</p>
</div><h2>U.K. Market Challenges and Restructuring</h2>
<div class="lb-trans"><h2>英國市場挑戰和重組</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>英國市場面臨挑戰，租賃收入下降 2%，導致採取重組措施，如位置整合和退出非核心業務。記錄了一項 3700 萬美元的重組費用，表明公司在優化運營方面的戰略轉變。</p>
</div><h2>Continued Margin Pressure</h2>
<div class="lb-trans"><h2>持續的利潤壓力</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>由於車隊中較大部分設備已過保修期，內部維修成本上升，加之二手設備處置收益降低，利潤受到壓力。這些因素突顯了 Ashtead 需要解決的運營挑戰。</p>
</div><h2>Mixed Construction End Markets</h2>
<div class="lb-trans"><h2>建築終端市場的複雜性</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>建築終端市場仍然複雜，當地非住宅建築市場有所減緩。這種變動性為 Ashtead 在應對市場動態時帶來了挑戰和機遇。</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>在財報電話會議中，Ashtead Group 重申了其強大的財務狀況和未來增長前景。儘管颶風季節安靜，公司在 2026 財年上半年報告了 2% 的租賃收入增長，第二季度的基礎增長為 3%。公司保持樂觀，引用積極的領先指標，並維持全年租賃收入增長、資本支出和自由現金流在 22 億美元至 25 億美元之間的指引。</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>總之，Ashtead Group plc 的財報電話會議反映出一種平衡的情緒，自由現金流增長和股東回報方面取得了顯著成就。然而，安靜的颶風季節和英國重組等挑戰也被強調。公司對未來增長保持樂觀，得益於積極的領先指標和重申的指引。</p>
</div>

Ashtead Group 的財報電話會議突顯了其增長與挑戰