Astec Industries: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

CHATTANOOGA, Tenn. (AP) _ Astec Industries Inc. (ASTE) on Wednesday reported third-quarter earnings of $1.6 million.

The Chattanooga, Tennessee-based company said it had profit of 7 cents per share. Earnings, adjusted for one-time gains and costs, were 20 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The maker of equipment for building, paving and mining posted revenue of $231.4 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $228 million.

Astec Industries shares have increased 31% since the beginning of the year. The stock has risen 50% 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