Astec Industries: Q2 Earnings Snapshot

August 2, 2022 GMT

CHATTANOOGA, Tenn. (AP) _ Astec Industries Inc. (ASTE) on Tuesday reported a second-quarter loss of $3.9 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Chattanooga, Tennessee-based company said it had a loss of 17 cents. Earnings, adjusted for non-recurring costs, were 19 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The maker of equipment for building, paving and mining posted revenue of $318.2 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $309.5 million.

Astec Industries shares have fallen 29% since the beginning of the year. The stock has declined 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ASTE at https://www.zacks.com/ap/ASTE