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Astec Industries: 1Q Earnings Snapshot

CHATTANOOGA, Tenn. (AP) _ Astec Industries Inc. (ASTE) on Tuesday reported first-quarter net income of $14.3 million.

The Chattanooga, Tennessee-based company said it had profit of 63 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.

The maker of equipment for building, paving and mining posted revenue of $325.8 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $338.7 million.

Astec Industries shares have climbed 42 percent since the beginning of the year. The stock has decreased 26 percent in the last 12 months.


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