Astec Industries: 3Q Earnings Snapshot
CHATTANOOGA, Tenn. (AP) _ Astec Industries Inc. (ASTE) on Tuesday reported third-quarter earnings of $3 million.
The Chattanooga, Tennessee-based company said it had net income of 13 cents per share. Earnings, adjusted for restructuring costs, were 17 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The maker of equipment for building, paving and mining posted revenue of $255.8 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $263 million.
Astec Industries shares have increased almost 10% since the beginning of the year. The stock has declined 2% in the last 12 months.