Astec Industries: 4Q Earnings Snapshot
CHATTANOOGA, Tenn. (AP) _ Astec Industries Inc. (ASTE) on Monday reported fourth-quarter net income of $15.4 million, after reporting a loss in the same period a year earlier.
The Chattanooga, Tennessee-based company said it had profit of 67 cents per share. Earnings, adjusted for non-recurring gains, were 56 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The maker of equipment for building, paving and mining posted revenue of $238.9 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $273.2 million.
For the year, the company reported profit of $46.9 million, or $2.05 per share. Revenue was reported as $1.02 billion.
Astec Industries shares have climbed 17% since the beginning of the year. The stock has increased 76% in the last 12 months.