Ashtead Share Discussion Threads

[disc0dave45] 07/3/2023 15:08

Edit: guess Mr P opened his gob at 15:00 not 15:30 given how markets have reacted.

[disc0dave45] 07/3/2023 14:43

Good afternoon Mr bThanks for the chart.Given another beat I thought £60 close could be on the cards but doesn't look like it......everyone waiting possibly for Mr P at 15:30?.Time for walkies :)

[bracke] 07/3/2023 12:59

Good results and the obligatory gap up.

AHT laughs in the face of gaps. Best chance of a fill is if Mr Powell frightens the market which he appears reluctant to do and the market probably wouldn't believe him if he tried.

So onward and upward to fill the gaps above or maybe a retrace before doing so?

AHT DAILY

[disc0dave45] 07/3/2023 10:02

Nice job AHT :)

[perfido] 07/3/2023 08:06

I think I’ve spotted another gap 😂

[fenners66] 07/3/2023 07:38

However, as expected, debt increased as we continued to invest in bolt-ons and returned capital to shareholders. During the period, we spent $243m (GBP204m) on share buybacks (2022: $307m (GBP224m)

net debt at 31 January 2023 was $6,536m (2022: $5,031m)

Only flies in the ointment are after all that capital expenditure free cash flow is only forecast at $300m
and interest cost has almost doubled
($103.6m) was ($56.5m)

Since capital allocation is detailed as expansionary then progressive dividend , let them pay a large increase in dividend before any buybacks.

[mirabeau] 07/3/2023 07:32

CPI another Ashtead

[fenners66] 07/3/2023 07:31

"Rental only revenue growth has been driven by both volume and rate improvement in what continues to be a good rate environment. Rental revenue increased 27% to $5,669m (2022: $4,468m)."

[fenners66] 07/3/2023 07:30

in the US "Organic growth (same-store and greenfields) was 19%"

[fenners66] 07/3/2023 07:28

"US rental capital expenditure is $3.0 - 3.3bn. This should enable mid-teens rental revenue growth in the US. "

[perfido] 07/3/2023 07:28

Nine month highlights (3)


-- Strong third quarter performance with ongoing momentum in robust end markets
-- Group revenue up 25%(1) ; US rental revenue up 27%
-- Adjusted(2) earnings per share increased 30% to 304.2c (2022: 235.1c)
-- 120 locations added in North America
-- $2.6bn of capital invested in the business (2022: $1.7bn)
-- $970m spent on 38 bolt-on acquisitions (2022: $938m)
-- Net debt to EBITDA leverage(1,3) of 1.6 times (2022: 1.5 times)
-- We now expect full year results ahead of our previous expectations

Rock on AHT!

[fenners66] 07/3/2023 07:27

"We now expect full year results ahead of our previous expectations"

Always nice to read

[disc0dave45] 06/3/2023 13:35

Some news articles are citing a labour shortage in US construction, which for plant rental could be a positive as well as a negative - the bull case is that construction projects will take longer to deliver thus extending the plant rental duration, the best case is that if labour isn't available on day one then the construction programme will be delayed thus delaying commencement of plant hire.Hopefully AHT will be able to confirm if the labour shortage is a headwind or a tailwind.

[perfido] 03/3/2023 17:00

Hi disc0

Fully agree, there is a distinct possibility that given the right results, we could see AHT rebase in a higher range in due course, once the dust has settled IMHO.

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[disc0dave45] 03/3/2023 16:16

Yep thanks Mr b for your pretty charts :)Would guess if Q3 confirms in line then it will be "buy the rumour sell the results", if another ahead then new ath hopefully.

[perfido] 03/3/2023 16:11

Thanks again bracke for the latest graph.

It will be interesting to see where the price range is established after the Q3 results are declared and the froth subsides, and any short term holders have taken profits/exited?
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[bracke] 03/3/2023 15:11

I have added a couple of lines to the RSI. It will be see that there is scope for further upside.

I will not be surprised it the share price does break above 5760 on an intra day basis. Whether it will hold above that level I don't know.

AHT DAILY

[perfido] 03/3/2023 14:53

Thanks for the graphs bracke..

[bracke] 03/3/2023 11:34

SP rising to the recent high at 5760. Will this be 'buy the rumour, sell the result'
or will the results and forecast be good enough to take it over resistance and out of the main channel (green) on towards the gaps above and an all time high.

AHT DAILY




AHT WEEKLY

[perfido] 03/3/2023 09:05

Thanks disc0

Things are looking up this morning, we seem to be in a rising channel 😊

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[disc0dave45] 02/3/2023 12:42

Good afternoon perfidoI see HSS has forecast year end adjusted EBITDA to be slightly ahead of expectations. Hopefully bodes well for Sunbelt UK even if it's only less than 10% now of AHT's revenue.Fingers crossed based on recent positive numbers within the sector that they issue another beat.

[perfido] 01/3/2023 08:51

Good morning disc0,

Thanks for the HEES post, a good read and most encouraging. 😊

Looking forward to AHT 3Q23 results next week...

(Edit: see RNS 28/02/23 above if anyone needs more details)
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[disc0dave45] 28/2/2023 16:38

Thanks Perfido.Did mean to post up last week's exceptional Q4 results for HEES, but forgot.Rev +25.6%, total equipment rental Rev +35.3%, Net income +235% (despite a marginal increase in tax rate), EBITDA +56.1%.The CEO 2023 outlook: Mr. Barber explained the Company's optimism for 2023, stating, "Favorable trends have emerged in the equipment rental industry and represent a promising outlook. We expect the robust business environment to persist through the year as strong project backlogs and accelerating federally funded programs escalate spending, particularly in the non-residential and industrial end markets. We believe these positive trends are sustainable, due in part to a rise in federal programs addressing improvements in infrastructure that require extended periods to complete. In addition, we expect further growth in rental penetration to drive new demand for equipment as the combination of unfavorable fiscal conditions, including rising interest rates, and lingering delays in equipment deliverability encourage a shift by certain customers away from the ownership of equipment. These multiple catalysts for increased rental demand should maintain healthy equipment utilization and contribute to an attractive pricing environment characterized by modest sequential quarterly rate improvement."

[perfido] 28/2/2023 10:45

AHT 3Q results due shortly, 7th March, might this liven the board up?

Q4 and year end results follow on 13th June...
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[perfido] 26/2/2023 07:33

Latest Berkshire Hathaway newsletter makes interesting reading 😊
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