Ashtead Group (LON:AHT) reported on Tuesday fourth quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Ashtead Group announced earnings per share of £0.2 on revenue of £1.04B. Analysts polled by anticipated EPS of £0.33 on revenue of £1.08B.
Ashtead Group shares are up 8% from the beginning of the year , still down 8.89% from its 52 week high of £2,879.00 set on June 16. They are outperforming the TR UK 50 which is down 18.31% year to date.
Ashtead Group shares gained 8.52% in intra-day trade following the report.
Ashtead Group follows other major Services sector earnings this month
Ashtead Group's report follows an earnings missed by Compass on May 19, who reported EPS of £0.36 on revenue of £12.48B, compared to forecasts EPS of £44.55 on revenue of £12,977M.
Burberry Group had missed expectations on May 22 with fourth quarter EPS of £-0.07 on revenue of £1.35B, compared to forecast for EPS of £0.46 on revenue of £1,537M.
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