Ashtead Technology Cuts Annual Profit Forecast
Ashtead Technology shares fell 15 percent after the firm cut its annual revenue and profit forecasts. Project postponements in the Middle East, Europe, and the Americas drove the downgrade.
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ASHTEAD TECHNOLOGY HOLDINGS shares fell 15% on Thursday morning after the United Kingdom subsea equipment rental firm lowered its full-year earnings outlook. The downgrade reflects delayed offshore projects across Europe, the Americas, and the Middle East. Investors punished the stock as project postponements threaten the firm's fiscal 2026 consensus targets.
