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Ashtead Group fiscal Q2 profit climbs 33.4% YOY

Ashtead Group plc said its normalized net income for the fiscal second quarter ended Oct. 31 came to 29 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 30 pence per share.

EPS rose 34.1% year over year from 22 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £147.1 million, an increase of 33.4% from £110.3 million in the year-earlier period.

The normalized profit margin increased to 17.4% from 17.0% in the year-earlier period.

Total revenue climbed 30.2% on an annual basis to £844.6 million from £648.9 million, and total operating expenses increased 29.0% year over year to £583.6 million from £452.4 million.

Reported net income grew 32.0% on an annual basis to £154.3 million, or 31 pence per share, from £116.9 million, or 23 pence per share.